190 Active Listings
24 Homes Under Contract
6 Homes Sold week ending November 20, 2010
| Average Price Homes Sold w/e November 20 2010 | $153,879 |
| Highest Price Home Sold: | $223,375 |
| Lowest Price Home Sold: | $ 80,000 |
Highest number of days on market: 162 days
Lowest number of days on market: 22 days
This is a snapshot of the North Liberty IA real estate market, November 22, 2010. 1 single family homes, 3 zero lots and 2 condos sold in North Liberty last week.
The absorption rate for North Liberty is 5.0 months. That's the time it takes for the market to "absorb" homes.
The first step in calculating the absorption rate is to find out how many homes sold in the past 12 months and how many are currently on the market. 469 homes sold in the last 12 months in North Liberty IA and there are currently 190 showing as active listings.
469/190 = 2.4 - That means the inventory of homes in North Liberty turned 2.4 times in the last 12 months.
Now we take the 12 months and divide it by 2.4 to come up with the absorption rate.
12/2.4 = 5 months = 153 days
What this tells us that based on the current inventory the average time it takes a home to sell in North Liberty is 5.0 months. What the absorption rate does is give us an idea of what's going on in the market. It's not an exact science, it just gives us something to go on.
Last week's market update for North Liberty
North Liberty IA real estate market report October 2010
North Liberty IA real estate market report 3rd Quarter: July - September 2010
North Liberty IA real estate market report September 2010
North Liberty IA real estate market report August 2010
North Liberty IA real estate market report July 2010
Originally posted @ ichomesforsale.com
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