Knox County Ohio and the real estate market has been experiencing a serious home-buying boom over the last 6 months.
The graphic above highlights the SOLD vs Off Market statistics and this report shows possibly the highest percentage of homes SOLD compared to Expired / Withdrawn listings that I have seen during my 34 years of selling real estate in Knox County Ohio.
Each week throughout the year I complete a detailed housing market report relating specifically to available homes for sale, pending home sales and homes that have sold throughout Knox County Ohio. One of the key things I watch for is what is known as the absorption rate. The absorption rate gives you an idea of how many months of available inventory we have on the market at any given time and in each price range. Here are some interesting real estate statistics relating to the Knox County Ohio available housing inventory as of today:
- $0 to $49,999 has an average absorption rate of roughly a single month of available homes
- $50,000 to $100,000 - There are no homes available homes in this price range
- $100,000 to $149,999 has an average absorption rate of 1 month of available homes
- $150,000 to $199,999 has an average absorption rate of about 1/3 of a month of available homes
- 200,000 to 249,999 - There are no homes available homes in this price range
- $250,000 to $299,999 - There are no homes available homes in this price range
- $300,000 to $349,999 - There are no homes currently available in this price range
- $350,000 to $449,999 average absorption of rate of 1 months supply of available homes
- $450,000 to $499,999 average absorption of rate of 6 months supply of available homes
For reference, a balanced housing market typically will have an average absorption rate of 5 to 6 months of available homes for sale. The majority of price ranges listing above have absorption rates at 1 month or less making Knox County Ohio a seller's market in all price ranges except for the $450,000 to $499,999 range which is more of a balanced market.
If you are in the market for a Knox County Ohio home that is for sale feel free to click the link, view some listings and register to receive instant notifications featuring the newest real estate listings as they come on the market - CLICK HERE.
If you have questions relating to the Knox County Ohio housing market or if you are interested in buying or selling a Knox County Ohio home, give us a call at 740-397-7800 or send us an email at samsells@sammiller.com.
The Sam Miller Team of REMAX Stars Realty SamMillerSells.com
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