Middlesex Township - Market Update
$200,000 to $399,999 - December 2009 thru May 2010
The Middlesex Township area in Butler County has a good absorption rate ----- down from 7 months of inventory in Jan 2010 to 3 months of inventory in May of 2010.
As a Realtor, we looking at "absorption rates" when working on a marketing plan and most importantly when completing a "comparative market analysis" or "CMA". What is an absorption rate? It is:
The absorption rate is the rate that the current inventory gets absorbed (or sold) in a given month. A small number tells me that more homes are being sold than going on the market. A larger number tells me that more homes are coming on the market than being sold.
Here are some stats for the past 6 months (December 2009 thru May 2010) in Middlesex Twp (price range $200,000 to $399,999):
- The average active prices has been from $271,000 to $313,000
- The average sold price has been from $245,000 to $355,000
- The average sold to list price has been from 94% to 97%
- The average days on the market has varied from 169 to 239 days
* Reports were published June 2010, based on data available at the end of May 2010. All based on data supplied by the WPML.