Only 96 days into the new year there are already 20 Crooked Creek homes either closed or under contract to close. With 33 sales in all of 2011 it sure looks like 2012 will be a record year. There are only 18 available listings which is also the lowest number we can recall. Typically this time of year we have 40-50 homes available.
The absorption rate – total homes under contract to close but not yet closed divided into the total number listed (active and pending)
It currently looks like this – 29 total listings (18 still active and 11 under contract) 11/29 = 38% absorption rate
The rules I use are less than 20% means prices are dropping, 20-40% prices are stable and over 40% prices are going up. We are awfully close to a possible rise in home values with a 38% current rate. From 2008 thru 2010 we saw absorption rates below 10% – they had been around 20% most of the past 18 months with a dramatic jump the past 60 days.
While there are a small number of additional homes about to be listed I also know of a bunch of buyers looking only in Crooked creek – just waiting for the right home to buy.
Be sure to sign up for listing alerts more immediate notice of new listings. For the best solution – call as we have our own inventory of homes we are about to list.
