Absorptions Rates are very important in deciding whether to list your home or how to price your home.  I did a little research yesterday on my area and this is what I found in the City of Lynchburg, Va.

 

The criteria I used is Lynchburg, Va., price range $125,000-$180,000, Lynchburg School District for 3 and 6 months.

 

In the last 6 months 73 Homes have closed in Lynchburg, Va. in this criteria.

The average homes sold per month - 12

Current Active in MLS (Active, Pending, Sold, Withdrawn, Expired) 287

Month Supply of Inventory to be Absorbed IF NO OTHER HOMES COME ON THE MARKET - 24 months

% Probabiiity of Selling - 25%

 

In the last 3 months 36 Homes have closed in Lynchburg, Va. in this criteria.

The average homes sold per month - 12

Current Active MLS (Active, Pending, Sold, Withdrawn, Expired) - 160

Month Supply of Inventory to be absorbed IF NO OTHER HOMES COME ON THE MARKET - 13 months

7.5 % Chance of selling your home in 30 Days!

What do all these numbers mean?  It means that we have more then a 6 months supply of homes on the market which is an unbalanced market. There are not enough buyers to purchase the supply.

What does this mean for a seller?  If means you must price your home to sell, stage your home to sell and be patient.


Brenda Moore, Associate Broker

Licensed in the Commonwealth of Virginia

JOHN STEWART WALKER, INC.

434-258-7670 mobile

434-385-6655 office

www.facebook.com/BrendaMoore.AssociateBroker

Office Location

3211 Old Forest Road

Lynchburg, Va. 24501

 

1 Comments on What Are Your Chances of Selling?

OCT
27
2011
619,732 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Absorbtion rates are important. I like the way you use them to prepare your sellers to price and prepare the home properly, and then be patient. Hope your market activity picks up soon.
10:44am • #1


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Brenda D. Moore, Associate Broker JOHN STEWART WALKER, INC.

Lynchburg, VA

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Serving the Lynchburg, Va. Area

Address: 3211 Old Forest Road, Lynchburg, VA, 24501

Office Phone: (434) 385-6655

Cell Phone: (434) 258-7670

Email Me

For 11 years I have worked with buyers and sellers in the Lynchburg, Va. area and have found it to be a very rewarding career. My blog consist of stories about experiences in this career, family joys, books I have read and many more experiences in life.


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