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Real Estate in Nanaimo - Absorbtion rates
Real Estate in Nanaimo -  Absorbtion rates
I've spent some time this morning looking at current trends in real estate in Nanaimo. It's been a while since I calculated the absorption rates. This information helps me understand the real estate market in Nanaimo and where it is headed.
The definition of absorption rates is the number of weeks it takes to sell the current real estate inventory in Nanaimo at the present rate of sales.
The market has been a little slow for this time of the year so I thought it would be interesting to calculate the absorbtion rate to see how it compares to this time last year.  Every month VIREB (Vancouver Island Real Estate Board) supplies members with statistics on the past months activity in real estate in Nanaimo.  I will use the numbers I have received from them.
The absorption rate of single family homes and condos in Nanaimo in May.2011 in comparison to May 2010:
Single Family Homes
May 2010-  22.05 weeks to sell the amount of inventory that was on hand at that time
May 2011 - 26.64 weeks to sell the inventory that was currently on hand at the end of May
From the ... more

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