Days on Market and Inventory Levels
Posted By Keith Davis on June 12, 2009
Many thanks to Debaser who requested to see Inventory Levels and Days on Market. I pulled these this morning for the Charlottesville and immediate area. So, you are seeing numbers for Albemarle, Charlottesville, Fluvanna, Greene, and Nelson only.
The numbers are what you would expect, each Spring, the number of properties on the market goes up and the DOM drops. In the Fall and Winter, there are fewer properties on the market, but they stay there longer. Part of this is that properties that sell in Fall frequently went on the market in the Spring, and have had some time to age, but there are fewer of them.
Hope this helps.
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Edit Note: In looking at this graph, now that it is posted, it is rather disappointingly blurred. Sorry about that, I have to use a different program with data that requires two axes. The DOM is the “Blue” that is below the green line most of the time.
Keith is a self diagnosed data geek. With an MBA from UNC (Kenan Flagler Business School) Keith finds himself always looking for empirical evidence to explain the market around us. He has worked representing buyers and sellers as well as local builders. His background is in start-up companies, from which he brings his desire to find new ways in which technology can improve the buying and selling process for his clients.He lives in the City of Charlottesville with his wife, Krista, and two young children.
Thanks Keith!
I think this graph clearly the stagnation in the area market.
The CAAR market reports are the only place I have been able to find pre-bubble data – I wonder if inventory, and to a lesser extent DOM, will drop back to 2005 or lower levels without any significant reduction in $/sq. ft?