It's a wet and coldish day here in Cleveland Heights right now... a bit of rain drizzling down on the snow, creating an icy patch of tundra across lawns and under-plowed driveways.  The birds are flitting about, looking for food.  I just threw the last of my bird seed out for them in my backyard.

I had a busy day yesterday with listing appointments, and more listing appointments today.  What I am noticing is that the broad absorption rate in most cities on Cleveland's east side is around 16%... almost uniformly.  But when you look more closely at smaller segments of the market, say 4 bedroom homes, or homes priced between $200,000 and $250,000, the absorption rate climbs to about 27%... almost uniformly across cities. 

What that suggests to me is that there are really two markets at play right now... those properties that are desirable, priced right, and in great condition.  And then there are those other properties creating real drag on the market because they are overpriced, not so desirable, and in lesser condition than the competition.

Today's market is really about price, first and foremost.  Buyers want more for the same, or the same for less... a value driven market.  If a home is not a value, compared to the competition, then it's just clutter.