Brecksville Ohio Real Estate Market Inventory and Absorption Rate

By
Real Estate Agent with RE/MAX Trinity Brecksville Ohio

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Below you will see the inventory and absorption rate data for single family homes in Brecksville Ohio. The records for closed sales are only for the past 6 months.  The absorption rate is how many months it will take to sell your home as it relates to the amount of inventory and closed sales. If there have been 30 sales in the past 6 months, that equals 5 sales per month. If there are 50 available listings then it will take approximately 10 months to sell your home. These are averages and there are other factors that will come into play for every homeowner, such as the condition and specific location of your home, and most importantly, the price you choose. Also note that the absorption rate will typically be higher in the last quarter of the year and in the beginning of the first quarter of the year as sales slow down, thereby increasing the number of active listings on the market and subsequently increasing the absorption rate.

Inventory Analysis Prior 7 - 12 Months
(02/11/2009-08/09/2009)
Prior 4 - 6 Months
(08/10/2009-11/07/2009)
Current - 3 Months
(11/08/2009-02/06/2010)
Total # of Comparable Sales (Settled) 0 31 20
Absorption Rate (Total Sales/Months) 0.00 10.33 6.67
Total # of Comparable Active Listings ♦ 59 67 94
Months of Housing Supply (Listings/Absorption Rate) 0.00 6.49 14.09
Median Sale Price & List Price, DOM Prior 7 - 12 Months Prior 4 - 6 Months Current - 3 Months
Median Comparable Sale Price 0 225,000 214,500
Median Comparable Sales Days on Market 0 75 171
Median Comparable List Price (All) 290,700 290,950 322,450
Median Comparable Listings Days on Market (All) 186 151 129
Median Sale Price / Median List Price % 0.00% 95.79% 91.33%
♦The total number of all Comparable Active Listings is based on listings that were On Market on the end date of the specified time periods above.
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Tags:
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Rainer
146,688
Caren Wallace
Premier Property Group LLC - Tualatin, OR
Portland Caren Real Estate

Barb, great stats and it is good news to see that the inventory is getting smaller! Keep up the good work in letting your community know about their market!

Feb 08, 2010 10:20 PM #1
Rainmaker
1,048,784
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Barb nice work keeping everyone posted with the market stats for your area.

Feb 08, 2010 11:32 PM #2
Rainmaker
637,899
Joseph D. Federico
Donahue Real Estate Co. - Dedham, MA
Eastern Massachusetts Real Estate

Barb-nice work keeping everyone informed on what is going on in the Brecksville Ohio Real Estate market

Feb 09, 2010 12:30 AM #3
Rainmaker
558,018
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Barb...good presentation of the stats...hope this brings new marketing perspectives for an opportunistic market...Cherise

Feb 09, 2010 01:33 AM #4
Rainer
41,231
Mark L. Ostrovsky
Howard Hanna Real Estate Services - Beachwood, OH
Howard Hanna Real Estate Services

Love the presentation and the good news. Best wishes.

Feb 09, 2010 09:32 AM #5
Rainmaker
553,708
Barb Szabo, CRS
RE/MAX Trinity Brecksville Ohio - Cleveland, OH
E-pro Realtor, Cleveland Ohio Homes

Thanks everyone. Brecksville is a lovely place to live.

Feb 09, 2010 10:38 AM #6
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Rainmaker
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Barb Szabo, CRS

E-pro Realtor, Cleveland Ohio Homes
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