Adams Township Market Update
Homes priced under $199,999
December 2009 to May 2010
The past three months have been great when compared to the three previous months in Adams Township.
I love facts, figures and statistics! I feel it is important to look at statistics to see where our market has been, where it is going and what price ranges and areas have changed the most and why. Maybe there is a new company moving employees into the area, possibly a company moving out of the area, etc.
One of the things that I look at is the absorption rate.
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 is a look at the absorption rate in this price range and area for the last 6 months:
Dec 2009 - 25 months of inventory
Jan 2010 - 25 months of inventory
Feb 2010 - 22 months of inventory
March 6.8 months of inventory
April 4.2 months of inventory
May 7.7 months of inventory
Some May stats:
Average active price is $159,000
Average sold price is $180,000
Sold to list price difference % - 96%
Average days on the market - 225
If you had your home on the market last year and have taken it off, now is the time to get it back on. Call a Real Estate Professional today!
* Reports published June 2010, based on data available at the end of May 2010. All reports presented are based on data supplied by the WPML. (via TrendGraphics).