What is Absorption Rate?
Absorption rate tells us how many months worth of inventory is currently on the market. If we are selling 3 homes per month and there are 15 homes on the market then we have enough homes available for the next 5 months.
Because real estate is very local you can not look at Cincinnati at as a whole you have to look at each individual community for an accurate picture.
Six months ago in the Milford/Miami Township Market we had over 11 months worth of inventory available. As of November 30, 2007 we have 7.7 months worth of inventory.
If you are a seller in today’s market you have to be smart about where you position your home in the market. Look at your competition and position your home in the best condition or the best price or both. Remember that buyers comparision shop and will buy the home that will give them the most for the money. The same as you will when you become an active buyer in today’s market.
If you have any questions about today’s market and how you can position your home to cause a Sold sign to appear, please contact any of the experienced professsionals in the Milford Office.
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