Meet a guy who knows a lot about Racine real estate…. In his own words, "I have been in the real estate business for a really long time!" He is John Crimmings, Vice President and co-owner of First Weber Group Southern Wisconsin.
John shares his knowledge in a great post on his blog specific to Racine entitled "2009 Year in Review". You can read the whole article here. I can assure you, if Racine real estate interests you, you will find John’s blog useful. Even if Racine is not what you are looking for, there is information to learn.
For example, John explains "absorption rates" which basically means the number of months it takes to absorb all current real estate inventory in a particular community given the current sales activity level.
Below are some of John’s findings on Single Family Residential homes in Eastern Racine county:
2008 4th quarter: 13.6 months of inventory
2009 1st quarter: 17.2 months of inventory
2009 2nd quarter : 11.3 months of inventory
2009 3rd quarter: 9.7 months of inventory
2009 4th quarter: 8.4 months of inventory
We’re going in the right direction! "Normal" absorption is considered 6 months.
Nice writing, John!
If there is a specific city you would like absorption rates on, please send us a comment.