2.2, 3.4 and 3.7 months. These numbers reflect the total absorption rates for New Hanover, Pender and Brunswick Counties respectively in the 4th Quarter of 2019. What is an absorption rate? It is the calculation of available homes to the number of sold homes in a 12-month period. That rate reflects, by months, the home supply that is available. Once that rate falls below 4 months, it is considered a “Sellers’ Market” and that means one thing: we need more inventory! Homes are selling fast and are receiving multiple offers! If you thought January and February were not active months to sell your home, you are missing out! The Keith Beatty Team put 42 properties under contract and closed 35 in the month of January alone. Congrats Team! In fact, for the past 6 years, The Keith Beatty Team has sold MORE than 1 home per day…that’s 2,284 homes closed in 2,190 days!
Our Featured Community, Pacific Place, is really shaping up. The entrance is getting landscaped and the interested customer calls are rolling in! Blanton Custom Homes will be building these quality brick homes off of Greenville Loop Road and we are taking contracts now for the first group of homes to be completed in late summer of 2020. Also be on the lookout soon for the announcement of a new Townhome/Duplex-style community in Surf City, featuring a community pool and phenomenal views of the marsh and Intracoastal Waterway!
In addition, Keith, Valerie, Bill and Brandon visited New Jersey February 8-9th at the Ideal-Living Resort and Retirement Show. They manned our booth and chatted with lots of folks looking to make the move south to warmer climates and lower taxes! I hope you visited if you were in the area! If you or someone you know would like to attend one of these shows, let us know. The next one will be in the DC/ Northern Virginia area and we’d love to see you there!
Have a wonderful February and remember that Good People Make All The Difference in life when buying or selling your home!
Keith and Drew