Steve’s Stats for August 2010
Posted on August 6, 2010 by JA/LEX Real Estate in Shippensburg real estate Shippensburg realtors Shippensburg relocationSteve’s Stats for August 2010
Brought to you by: JALEX Real Estate Services
JALEX Real Estate Services is raising the bar for Shippensburg, Pa real estate sales and service. JALEX Real Estate Services offers you a monthly Shippensburg area real estate market conditions report based on data taken from our local real estate multiple listing service. We will use the Shippensburg area absorption rate in this report to identify the type of market conditions which exist currently in the Shippensburg, Pa area. The absorption Rate is defined as a number that shows the rate at which the inventory of homes for sale are being sold. A declining figure indicates people the inventory is decreasing as more homes are being sold than are coming onto the market. A rising absorption rate implies that there are more homes coming onto the market than there are buyers willing to buy at the market prices.
The absorption rate lets you know how well the market is absorbing the current inventory of listings. The ultimate question the absorption rate answers is, “Is the current inventory level shrinking or growing?”
Number of active Shippensburg real estate listings in the Shippensburg school district as of August 1, 2010 = 212
Number of Shippensburg homes sold since May 1, 2010 (3 month period) = 49
Absorbtion rate = Number of homes sold / Period (3 months) = 16.33
Month’s supply of homes = Number of active listings (220) / Absorption rate (16.33) = 12.98
Six month’s supply is considered a balanced market. Numbers over 6 equal a “buyer’s market”. Numbers below six generally indicate a “seller’s market”.
Using these calculations you can focus on absorption in a particular neighborhood or price range as well. Showing clients the Absorption level can give them the information they need to price their homes for sale in the Shippensburg area real estate market. As with any commodity, price in real estate is mostly a matter of supply and demand.
JALEX Real Estate Services continues to lead the Shippensburg real estate market despite what others are saying. In the past 3 months since May 1st there have been 49 homes sold in Shippensburg school district. JALEX Real Estate Services has been involved in 17 of those real estate settlements! That is a 34% share of the Shippensburg area real estate market. We are pleased that our efforts and hard work is paying off for our buyers and our sellers!
However, tomorrow is another day. We realize that others are competing with us and taking our best marketing ideas and not only copying them but working to make them better. That means we have to work even harder to be the innovator, offering more and better services for less! And making our listing information available to the entire real estate market both agents and consumers rather than holding on to it tightly. The only real reason for a real estate agency to hold on tightly to listing information is for fear of becoming obsolete. A market leader will face such a concern with new policies, fresh ideas or a new approach. A market leader will adapt and provide the consumer with a new value! JALEX Real Estate Services is the market leader in Shippensburg real estate. It is clear in the numbers and it is clear in the fact that our competitors are adopting our ideas. Our goal has always been to provide escellence in the local Shippensburg real estate industry and we will continue to work to do so.
Let us know how we can be of service to you…
