Good? Bad? Is it getting better? The answer is yes.
Some areas are selling quickly, some aren’t and price points matter.
Realtors, banks and relocation companies usually analyze “absorption rates” in order to determine how much inventory is currently available within the area.
The formula is fairly simple:
The National Association of Realtors (NAR), as well as state and local real estate associations also publish absorption rates for public consumption. By NAR standards our market is favoring sellers in most areas. However, not every area in Greater Cincinnati is a seller’s paradise
It’s important to remember the absorption rate can be different for neighborhoods and even price ranges within a neighborhood. The table below highlights single-family home “absorption rates” in Butler County. Look at the rate by county, then township and then by price and township. You can see why it’s important to understand how your specific neighborhood is selling (or not selling)
|Butler County||Liberty Township||Liberty Township
Homes Priced $500,000 +
Buyers are struggling to find a home they can afford and are struggling with bidding wars. Sellers have the advantage (in most areas) but need to stay on top of shifting marketplace.
For detailed numbers about your neighborhood, contact me.