As of December 2008, Winter Haven, Florida had roughly 1,161 properties for sale and a total of 1,267 listings in either active or pending status. Last month, 59 properties were sold at an average price of $126, 543 or median price of $120,000. Calculating the absorption rate isn’t an exact science, but it does provide us with a trend that merits our attention. Sellers in particular should keep watch of Winter Haven’s absorption rate as they establish a pricing basis for their homes.
Calculating Winter Haven, Florida’s Absorption Rate
As I referenced above, there are a total of 1,267 listings available (active and pending – not closed yet). Last month 59 properties sold and closed.
So, let’s do a bit of math:
I’ve calculated Winter Haven’s absorption rate as follows:
Step 1: 59 properties sold x 12 months = 708
Step 2: Take 708 and divide it by 52 weeks = 13.62.
Step 3: Divide 1,267 by 13.62 = 93 weeks to sell Winter Haven’s current housing inventory… that’s 23 months, folks!
Hear that Winter Haven Homebuyers?
Bring these absorption rate figures to your next seller negotiation and watch them squirm! If you’re looking for a home here in Winter Haven and need to be pre-qualified for a home loan, contact me at 863-604-3019, and I’ll get you situated.
Or, go ahead and apply for your Winter Haven home loan today!
Note: Home inventory information believed accurate but not guaranteed.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage broker, I’m your guy. Call me at 863-604-3019 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
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