Absorption rates have nothing to do with sun screen but they do tell us how many months it will take to "absorb" all the units for sale in Pelican Bay.  The formal definition of Absorption Rate is: The ratio of the number of properties in an area that have been sold against the number available. Used to show the volatility of a market.

As of April 8, 2009, Pelican Bay has a total of 443 properties for sale.  April 8, 2008 - April 8, 2009 saw 206 closed sales in Pelican Bay.  During this period of time, we had an average of 17 sales a month.  As of April 8th, we  have 443 units for sale. If we divide this number of units available for sale by the 17 sales a month, we have an inventory that could last for 26 months.  A "normal" market is said to have an inventory of 6 months.

My last blog entry talked about taking your home off the market if you really did not have to sell it.  I keep harping on this because I follow the market and I know our inventory will take at least 26 months to deplete.  Why place your home on the market if you really do not have to sell?  Even with all the beauty that Pelican Bay has to offer, we are still in a price driven market.  Roughly 66% of all listings are currently failing to sell in Pelican Bay.  A listing coming on the market today in Pelican Bay has less than a one in three chance of selling.

If you scroll down this blog, you'll see some opinion boxes on the left hand side.  It is interesting to note that people responding to the Home Seller question, Is your home sold because it is over priced?  44% of the 91 people who responded said "Probably!"  I am curious if these people really don't have to sell their homes or if their Realtor® has not been communicating with them about the market. 

We live in an incredibily wonderful area.  I have tremendous joy each time I introduce a new buyer to Pelican Bay and they purchase a home here.  I always hope they will enjoy this community as much as my husband, Don, and I enjoy it.  Not much beats having dinner down at the Sandpiper Restaurant on the beach and watching gorgeous sunsets.

Looking for a home in our unique beach community? Search here, once at the search page, you can search by development, save your search and I will send you out new listings to you daily.

Care to share a comment with us?  Just click on the comment link at the bottom of this blog entry.  Comments are always welcome.