Hampton Roads Real Estate Absorption Rates

Absorption Months to absorb current inventory at current sales rate. Mar-10

Newport Smithfield/ York/ South North

News Isle of Wight Poquoson Va. Beach Va. Beach

150-200 7.4 11.2 7.4 7.5 12.0 10.1 12.5 9.0 6.8 6.8

201-250 6.4 11.6 11.8 8.6 12.4 14.2 7.5 8.4 6.1 9.1

251-300 9.4 14.8 13.0 13.0 22.9 20.5 11.1 9.9 6.1 8.8

301-350 13.5 16.5 8.6 16.6 20.0 19.3 9.2 13.2 9.5 9.5

351-400 18.1 25.8 14.8 27.0 27.0 14.3 21.1 18.8 9.2 12.9

401-450 13.0 21.0 7.2 28.5 * 16.4 23.1 14.6 14.9 11.8

451-500 15.7 19.4 54.0 * 3.0 32.4 21.3 15.9 16.2 26.5

501-550 24.0 81.0 * 36.0 24.0 10.0 12.9 22.0 23.5 14.8

551-600 38.0 36.0 18.0 12.0 * 10.8 26.0 12.0 40.7 28.0

601-700 93.0 22.0 30.0 36.0 * 54.0 28.8 34.5 63.4 25.4

701-800 21.6 25.0 48.0 8.0 * * 20.0 15.0 20.4 18.5

801-900 * 78.0 * * * 8.0 * 24.0 114.0 21.0

901-1000 * 72.0 * * * * 12.0 6.0 * 26.3

1001+ * 144.0 * * * 30.0 * 7.2 58.0 30.3

* No Sold Properties

Current Inventory as of 3/31/2010

Newport Smithfield/ York/ South North

News Isle of Wight Poquoson Va. Beach Va. Beach

150-200 353 495 254 313 265 32 150 66 406 246

201-250 286 249 209 250 149 64 141 83 413 207

251-300 270 163 117 139 80 65 185 84 272 159

301-350 274 99 36 58 20 58 118 66 167 113

351-400 292 86 37 36 9 38 81 75 135 138

401-450 150 49 6 19 13 30 50 51 107 63

451-500 97 42 9 8 1 27 32 37 70 75

501-550 44 27 5 6 4 5 15 22 47 47

551-600 38 36 6 2 3 9 13 30 61 56

601-700 31 44 5 6 4 9 24 23 74 93

701-800 18 25 8 2 1 4 10 10 34 68

801-900 13 13 2 1 1 5 13 8 19 56

901-1000 3 12 2 1 0 4 2 2 10 35

1001+ 10 24 4 8 1 5 15 6 35 145

Chesapeake

Price Range ($000's) Chesapeake Norfolk

Price Range ($000's) Suffolk

Suffolk

Norfolk

Portsmouth

PortsmouthHampton

Hampton

Price Range Active Listings Sold Properties Transactions Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 2580 1850 308.3 8.4

201-250 2051 1492 248.7 8.2

251-300 1534 924 154.0 10.0

301-350 1009 512 85.3 11.8

351-400 927 357 59.5 15.6

401-450 538 212 35.3 15.2

451-500 398 124 20.7 19.3

501-550 222 62 10.3 21.5

551-600 254 59 9.8 25.8

601-700 313 55 9.2 34.1

701-800 180 51 8.5 21.2

801-900 131 20 3.3 39.3

901-1000 71 12 2.0 35.5

1001+ 253 31 5.2 49.0

Total Absorption Rate All Areas for March 2010

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 353 288 48.0 7.4

201-250 286 267 44.5 6.4

251-300 270 172 28.7 9.4

301-350 274 122 20.3 13.5

351-400 292 97 16.2 18.1

401-450 150 69 11.5 13.0

451-500 97 37 6.2 15.7

501-550 44 11 1.8 24.0

551-600 38 6 1.0 38.0

601-700 31 2 0.3 93.0

701-800 18 5 0.8 21.6

801-900 13 0 0.0

901-1000 3 0 0.0

1001+ 10 0 0.0

Chesapeake (Area 31, 32, and 33)

Absorption Rates March 2010

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 495 266 44.3 11.2

201-250 249 129 21.5 11.6

251-300 163 66 11.0 14.8

301-350 99 36 6.0 16.5

351-400 86 20 3.3 25.8

401-450 49 14 2.3 21.0

451-500 42 13 2.2 19.4

501-550 27 2 0.3 81.0

551-600 36 6 1.0 36.0

601-700 44 12 2.0 22.0

701-800 25 6 1.0 25.0

801-900 13 1 0.2 78.0

901-1000 12 1 0.2 72.0

1001+ 24 1 0.2 144.0

Norfolk (Area 11, 12, and 13)

90.0Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 254 206 34.3 7.4

201-250 209 106 17.7 11.8

251-300 117 54 9.0 13.0

301-350 36 25 4.2 8.6

351-400 37 15 2.5 14.8

401-450 6 5 0.8 7.2

451-500 9 1 0.2 54.0

501-550 5 0 0.0

551-600 6 2 0.3 18.0

601-700 5 1 0.2 30.0

701-800 8 1 0.2 48.0

801-900 2 0 0.0

901-1000 2 0 0.01001+ 4 0 0.0

Hampton (Areas 101-105)

150-200 201-250 251-300 301-350 351-400 401-450 451-500 501-550 551-600 601-700

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 313 249 41.5 7.5

201-250 250 175 29.2 8.6

251-300 139 64 10.7 13.0

301-350 58 21 3.5 16.6

351-400 36 8 1.3 27.0

401-450 19 4 0.7 28.5

451-500 8 0 0.0

501-550 6 1 0.2 36.0

551-600 2 1 0.2 12.0

601-700 6 1 0.2 36.0

701-800 2 0 0.0

801-900 1 0 0.0

901-1000 1 0 0.01001+ 8 0 0.0

Newport News (Areas 106-110)

150-200 201-250 251-300 301-350 351-400 401-450 451-500 501-550 551-600 601-700

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 265 133 22.2 12.0

201-250 149 72 12.0 12.4

251-300 80 21 3.5 22.9

301-350 20 6 1.0 20.0

351-400 9 2 0.3 27.0

401-450 13 0 0.0

451-500 1 2 0.3 3.0

501-550 4 1 0.2 24.0

551-600 3 0 0.0

601-700 4 0 0.0

701-800 1 0 0.0

801-900 1 0 0.0

901-1000 0 0 0.01001+ 1 0 0.0

Portsmouth ( Area 21, 22)

($000's) 10/1/09-3/31/10 Per Month

150-200 32 19 3.2 10.1

201-250 64 27 4.5 14.2

251-300 65 19 3.2 20.5

301-350 58 18 3.0 19.3

351-400 38 16 2.7 14.3

401-450 30 11 1.8 16.4

451-500 27 5 0.8 32.4

501-550 5 3 0.5 10.0

551-600 9 5 0.8 10.8

601-700 9 1 0.2 54.0

701-800 4 0 0.0

801-900 5 0 0.0

901-1000 4 0 0.01001+ 5 1 0.2 30.0

Smithfield-Isle of Wight (Areas 64-66)

($000's) 10/1/09-3/31/10 Per Month

150-200 150 72 12.0 12.5

201-250 141 113 18.8 7.5

251-300 185 100 16.7 11.1

301-350 118 77 12.8 9.2

351-400 81 23 3.8 21.1

401-450 50 13 2.2 23.1

451-500 32 9 1.5 21.3

501-550 15 7 1.2 12.9

551-600 13 3 0.5 26.0

601-700 24 5 0.8 28.8

701-800 10 3 0.5 20.0

801-900 13 0 0.0

901-1000 2 1 0.2 12.01001+ 15 0 0.0

Suffolk (Areas 61-63)

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 66 44 7.3 9.0

201-250 83 59 9.8 8.4

251-300 84 51 8.5 9.9

301-350 66 30 5.0 13.2

351-400 75 24 4.0 18.8

401-450 51 21 3.5 14.6

451-500 37 14 2.3 15.9

501-550 22 6 1.0 22.0

551-600 30 15 2.5 12.0

601-700 23 4 0.7 34.5

701-800 10 4 0.7 15.0

801-900 8 2 0.3 24.0

901-1000 2 2 0.3 6.01001+ 6 5 0.8 7.2

York, Poquoson ( Area 111-113 )

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 406 356 59.3 6.8

201-250 413 407 67.8 6.1

251-300 272 268 44.7 6.1

301-350 167 106 17.7 9.5

351-400 135 88 14.7 9.2

401-450 107 43 7.2 14.9

451-500 70 26 4.3 16.2

501-550 47 12 2.0 23.5

551-600 61 9 1.5 40.7

601-700 74 7 1.2 63.4

701-800 34 10 1.7 20.4

801-900 19 1 0.2 114.0

901-1000 10 0 0.0

1001-2000 29 3 0.5 58.02001+ 6 0 0.0

South Virginia Beach ( Areas 44-48)Absorption Rates March 2010

Months to Absorb

($000's) 10/1/09-3/31/10 Per Month

150-200 246 217 36.2 6.8

201-250 207 137 22.8 9.1

251-300 159 109 18.2 8.8

301-350 113 71 11.8 9.5

351-400 138 64 10.7 12.9

401-450 63 32 5.3 11.8

451-500 75 17 2.8 26.5

501-550 47 19 3.2 14.8

551-600 56 12 2.0 28.0

601-700 93 22 3.7 25.4

701-800 68 22 3.7 18.5

801-900 56 16 2.7 21.0

901-1000 35 8 1.3 26.3

1001-2000 106 21 3.5 30.32001+ 39 4 0.7 58.5

North Virginia Beach ( Areas 41-43)

Hampton Roads Real Estate Absorption Rates

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