Well
its time to head back to school and back to work so I thought I would share
what’s
happening in the Real Estate market in Clovis NM this month.
Things are pretty
steady but its still a buyer’s market.
Some
quick stats:
Active
residential listings in Clovis as of 8/26/13: 363
Active
res. listings in NE Clovis: 169
Homes
that sold/closed in all of Clovis in the last month: 39
Homes
that sold in NE Clovis in the last month: 25
Market
Absorption Rate for all of Clovis: 9.3
That's
the number of months it should take, based on current rates of sale, to sell
all 363 residential listings IF
no other properties came on the market in the meantime.
Market
Absorption Rate for NE Clovis: 6.8
The
conventional wisdom is that 3-4 months absorption rates indicate a sellers'
market, 6 months indicates a fairly balanced market, and 9-12 months (or worse)
is the sign of a true buyers' market.
So
Clovis has a lot of homes on the market right now and it’s a great time to buy.
Just to give you something to compare to back in late April of 2009 we had 275
homes on the market and they had just sold 55 homes the month before so a 5
month absorption rate.
Also
if you are like me and wonder when a good time to buy or sell is, here are how
many homes sold each month for the past 6 months in Clovis.
Jan
–Feb 26 sold
Feb
-Mar 42 sold
Mar
-Apr 58 sold
Apr
-May 57 sold
May-Jun
46
sold
Jun
– July 45 sold
And
to compare this year to last year…. 41 homes sold in the same July-August time
frame that had 39 sold this year so not much change.
