June Inventory Levels
Home inventory levels
are figured out by taking the number of homes on the market in a given zip code
and dividing it by the number of homes sold in that zip code for the last 30
days. The answer will give you the
absorption rate. Or the number of months
it would take to sell the existing inventory at the current rate if no other
homes came on the market.
Note: These numbers are not seasonally adjusted and I do not
include properties under contract in the calculation.
Sellers Market 1-6 Months
Normal
Market 6-8 Months
Buyer’s Market 8+ Months
|
City
|
Zip
|
July,
2007
|
Jan,
2008
|
April 23, 2008
|
May 28, 2008
|
June
28, 2008
|
|
Draper
|
84020
|
9.5
|
20.2
|
20.4
|
13.6
|
14.2
|
|
Midvale
|
84047
|
3.2
|
9.2
|
9.3
|
6.6
|
7.5
|
|
Riverton
|
84065
|
8
|
24.3
|
8.8
|
14.3
|
12.8
|
|
Sandy
|
84070
|
4.6
|
13.6
|
16.8
|
9.8
|
9.7
|
|
West Jordan
|
84088
|
7.9
|
12.2
|
7.9
|
9
|
9.3
|
|
Sandy
|
84092
|
7.4
|
17.3
|
11.4
|
14.9
|
11.6
|
|
Sandy
|
84093
|
15.4
|
7.5
|
17.3
|
11
|
8.2
|
|
Sandy
|
84094
|
3.1
|
15.8
|
6.3
|
9.5
|
9.2
|
|
South Jordan
|
84095
|
8.6
|
21.6
|
10.7
|
12.9
|
16.7
|
|
Salt Lake City
|
84101
|
11
|
10.4
|
10.8
|
46.5
|
19.1
|
|
Salt Lake City
|
84102
|
4
|
13.3
|
13.4
|
6.2
|
12.4
|
|
Salt
Lake City/Aves
|
84103
|
6.8
|
25.7
|
14.8
|
14.6
|
9.4
|
|
Salt Lake City
|
84104
|
2.7
|
7
|
3.4
|
6.1
|
8.9
|
|
Salt Lake City
|
84105
|
5.5
|
19.7
|
6.2
|
4.7
|
3.7
|
|
Salt Lake City
|
84106
|
7.5
|
12
|
5.7
|
7
|
7.2
|
|
Murray
|
84107
|
3.9
|
12.2
|
7.5
|
7.4
|
8.0
|
|
Salt Lake City
|
84108
|
6
|
14.2
|
7.9
|
11.5
|
9.6
|
|
Salt Lake City
|
84109
|
5.9
|
14.3
|
17.5
|
18.3
|
7.8
|
|
Salt Lake City
|
84111
|
6.5
|
17.3
|
14
|
8.3
|
7.1
|
|
South Salt Lake
|
84115
|
3.5
|
10.9
|
6.3
|
13.7
|
6.1
|
|
Salt Lake City
|
84116
|
2.3
|
11.3
|
6.4
|
8
|
7.1
|
|
Holladay
|
84117
|
4.6
|
22.7
|
11.8
|
10.3
|
17.13
|
|
Taylorsville/Kearns
|
84118
|
3.3
|
10.2
|
6.8
|
6.2
|
6.5
|
|
West Valley
City
|
84120
|
3.4
|
14.6
|
6.6
|
5.5
|
6.6
|
|
Cottonwood
|
84121
|
12.6
|
22.1
|
10.6
|
10.8
|
9.4
|
|
Taylorsville/Murray
|
84123
|
3.1
|
19.5
|
3.66
|
3.5
|
4.5
|
|
Holladay
|
84124
|
5.9
|
13.8
|
14.5
|
7.4
|
18
|
Because of the way the numbers above are calculated, it is a
great indicator of what the market has been like in the last 30 days as well as
how many homes are on the market.
It looks like
inventory levels are staying level during the usually busy spring and summer
buying season. Zips with high average
home prices and areas are seeing high inventory like Holladay
for example. Also, homes with lots of
new inventory levels have high overall absorption rates if you look at Draper
and Riverton. But overall this weeks
numbers look good with no big surprises and nice even inventory levels from
month to month.
;)
;)
