Glenview IL Real Estate Absorption Rate 2015

By
Real Estate Agent with Baird & Warner Real Estate

Knowing the absorption rate in your area is a great asset when looking to purchase or sell a home in Glenview.  The absorption rate is actually a formula that tells you how long the current inventory of homes would take to sell if no new homes came on the market.  

In other words, it's the rate at which the market absorbs or eliminates current inventory.  It determines this by the current rate of home purchases made by buyers.

The absorption rate categories look like this:


In Glenview, the absorption rate for various parameters looks like this for the past 12 months:

 

Glenview Real Estate Absorption Rate

Anything priced under $500,000 is selling out very rapidly - the absorption rate is less than 2 months! For all price ranges, Glenview has a healthy balanced market at 5.75 months turnover rate.  Same for homes priced between $500,000 and $1 million and all 4 bedroom homes.

However, if you are selling a luxury home in Glenviw, over $2,000,000, then it becomes a buyer's market with an 11.25 month absorption rate.  

If you would like more information about selling or buying a home in Glenview, please call me!  847-977-6024.  

Posted by

Margaret Goss - Winnetka and North Shore Real Estate Broker
Specializing in homes for sale in Winnetka, Wilmette, Kenilworth, Northfield, Glencoe, Glenview, Northbrook, and Evanston.

Looking for a knowledgeable Illinois Realtor?  Google me! 
 

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Illinois Cook County Glenview
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Margaret Goss 

This is such important information for the Glenview area for buyers and sellers, especially given how it varies depending on the price point and other factors. Looks like you inventory is similar to what we have seen in other areas, including ours, especially at the lower price points.

Jeff

Feb 23, 2015 07:50 AM #1
Rainmaker
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Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Margaret Goss ~ another awesome post! I am sure buyers and sellers in your area appreciate your market update and hopefully they know to call on you for any RE assistance

Feb 24, 2015 01:10 AM #2
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Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Margaret, your real estate market is red hot for homes under 500K, but are there many home that are offered in that price range in Glenview?

Is the Naval Air Station still active at Glenview?  My Dad served in WWII at Great Lakes and he had fond memories of the North Side while stationed there.

Feb 24, 2015 02:43 AM #3
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Margaret Goss

Chicago's North Shore & Winnetka Real Estate
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