Hello, and welcome to my blog post. If you have not heard the term "Absorption Rate", then you may not have your home(s) priced correctly to sell.
Absorption rate is simply the time needed to sell a home based on inventory available and recent sales. Let me further explain:
Let's assume there are 100 homes sold each month and there are 1200 homes currently on the market. Given this example it will take 12 months (1200/100=12) to sell all the homes. How does this affect you as a seller?
Pricing your home correctly is the key. To price correctly your home would need to be in the lower 50% of inventory to sell at the current rate. If you need to sell faster, you should price in the lower 25%.
The above numbers are for example purposes only. Please contact me directly to learn about current absorption rates in your neighborhood. 615-207-8154 or Scott@MovingTennessee.com.
Comments (5)Subscribe to CommentsComment