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Selling A Home in Springfield MO? What The Heck Are Absorption Rates And Why Should I Care?

By
Real Estate Agent with Southwest Missouri Realty

Statistics are boring sometimes, but they can give you a lot of useful information. I did stay awake in stats class in college!

One of the most important statistics when considering selling your home in Springfield is the current absorption rate. This is calculated in either months or weeks and tells how quickly homes on the market are selling. Keep in mind the absorption rate can vary by price range, sq. footage of your home, even by neighborhood.

Typically more than 26 weeks inventory of homes indicates a buyer's market. Less than 26 weeks inventory indicates a seller's market. Somewhere in the middle is a balanced market.

The absorption rate can give you an idea of how long it should take your home to sell if priced and marketed correctly. Of course there are exceptions but its a good starting point. Here is an example graph of the absorption rate for Springfield. Springfield Missouri Real Estate Absorption Rates

If you would like for us to figure the absorption rate for your neighborhood in Springfield, Ozark, Nixa, or surrounding communities just give us a call. We're here to help.

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About The Authors:  Betty Knowles is a full-time REALTOR® with Southwest Missouri Realty in Springfield, MO She also served as President of Women’s Council Of REALTORS® in Southwest Missouri.  Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.  

John Knowles is likewise a REALTOR® with Southwest Missouri Realty and a member of the Greater Springfield Board of REALTORS®.  John is also a FAA part 107 certified drone pilot to get those amazing shots and videos of our properties! 

 

Together this dynamic team makes up TeamKnowles REALTORS®, Spouses Selling Houses!  They are dedicated to doing what it takes to sell your home in the greater Springfield real estate market, or help you purchase a home that fits your particular needs. Give TeamKnowles a call today; you’ll be glad you did!

 

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www.teamknowles.com 

Coldwell Banker Vanguard REALTORS Springfield MissouriSouthwest Missouri Realty

                           Office 417-582-2200

Comments (3)

Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

Great info for your buyers. It looks like your market is pretty balanced and doing well. Many people dont know these things.

Nov 09, 2009 10:48 PM
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Great post -- nice way to explain absorption rates.  The graphs are great.

Nov 10, 2009 01:01 AM
Betty Knowles
Southwest Missouri Realty - Springfield, MO
Ready to sell? Call Betty!

Laura and Kathy, thanks for the comments. Here in Springfield the lower to mid priced homes are starting to show improvement.

Nov 10, 2009 02:06 AM