A man runs up and says, "I need to sell my home fast! How how long will my house be on the market?"
You know what? It's really not that hard to figure out. I can actually give you a pretty good idea of how long it'll take to sell your home in Newton, IA ... at every price range on the market. It's called a Home Market Absorption Rate and here's how we do it.
On the 1st of each month I download (in every price range) how many homes are currently for sale in Newton, IA from $10,000 up to $500,000. I then go back and look at how many houses actually sell per month in each of those price ranges using a rolling 3 month sold average that helps answer the question, "How long will my house be on the market before it sells?"
Now that isn't to say your house is going to be on the market that long. What it does say is you need a Realtor to help you position your home correctly on the market, and look at the competition on the market as well, to see where we want to position your home if you want to sell your home fast.
For a free Home Market Valuation, contact me today!
Home Market Absorption Rate - Newton, IA 50208
Dec '18 Report
I've included the Nov '18 data here too so we can do some comparisons and see if we discover any current up or down trends in the home market in Newton, Iowa.
My summary for the month:
Overall from last month to this, active houses on the market stayed the same at 84 houses for sale in Newton, Iowa. Not surprising with the holidays but sales slowed down in December, the 3 month average of solds dropped from 29.33 houses selling per month to now 23 houses selling per month. This means for January 2019 with 84 houses on the market, we have a 3.65 month inventory of homes in Newton, IA at the current home buy rate, up from 2.86 months of inventory in November.
Home market demand in the $250-300,000 range stays extremely slow in Newton, Iowa. Only one or two houses have sold in that range in the last 3 months and there's 11 houses active on the market right now at that price point in Newton. However it looks like there may be an opportunity for a luxury home build in Newton, all houses over $300,000 have now been sold!
Dec '18 Home Market Absorption Rate - Newton, IA 50208
Nov '18 Home Market Absorption Rate - Newton, IA 50208
What will next month hold in the Newton housing market? Stay tuned to see!
120 N 2nd Ave W
Newton, Iowa 50208
Home Market Information Source
I gather & download data to calculate the Newton IA Home Market Absorption Rate by using RPR, The Realtors Property Resource. It's an exclusive REALTORS club available to licensed real estate agents that collects information from all the Multiple Listing Services (MLS) around Iowa and keeps track of every property that's ever been on the market. It shows each property from the day it was listed, to the day it was sold ... and what it sold for. It's a valuable tool for real estate agents like myself to use in helping determine current market values of homes.