Cincinnati Real Estate

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Kathy S. Koops GRI

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How Fast are Cincinnati Homes and Condos Selling?

filed under: Real Estate posted on September 25th, 2015

Home Sales And Absorption RatesHow fast are Cincinnati area homes and condos selling is reflected in the number of properties that sell each month.  Lots of times when properties are selling quickly the “days on market” should be very low.  To be blunt there’s no perfect way to predict days on market for each listing.  Another way to look at how fast area properties are selling is called “absorption rate”.  Many relocation companies and realtors use “absorption rate” to get a better handle on inventory supply and demand.   Loosely defined, absorption rate is how long it will take the real estate market to absorb or sell all the house in a given amount of time.

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Based on data from the Multiple Listing Service of Greater Cincinnati the absorption rate for the Butler, Clermont, Hamilton and Warren Counties for single family homes is 5.8  months and for condos 6.8 months.  This means that at the current rate it will take that many months for all the properties to sell.  The number will rise and fall as new listings come on the market and listings and homes and condos sell.  The chart below shows the number of months it will take for all the currently listed homes and condos to sell.

  Single Family Homes Condos
Anderson 3 2
Cincinnati 6 3
Colerain 3 3
Fairfield 3 6
Green Twp 4 4
Lebanon 3 1
Mason 3 2
Oakley 1 2
West Chester 3 3

Absoprtion rate is just one way to look at how fast area homes and condos are selling.  Your area may be higher or lower than the county numbers and it’s important that you have all the information when you decide to sell or adjust your prices.

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