City: Red Lodge
Type: Vacant Land
Date: January 31, 2009
Total inventory: 225
|
Period (Data Observed) |
Number of Units Sold |
Equivalent Yearly Sales Projection |
Absorption Rate |
|
Last Year |
40 |
40 |
5 years 8 months |
|
Last 6 months |
15 |
30 |
7 years 6 months |
|
Last quarter |
8 |
32 |
7 years |
|
Last month |
4 |
48 |
4 years 8 months |
For an explanation of absorption rate and how it is calculated, see last month's post:
City of Red Lodge Market Statistics for Vacant Land at Year End 2008
Please note that the absorption rate is not a guarantee of the time it would actually take to sell a property.
I also have the absorption rate statistics broken down by price range for Residential and by acreage for Vacant Land. Feel free to contact me if you are interested to get an estimate (based on the inventory and the latest trends) of how long it would take before all the current inventory of properties in a specific price range in Red Lodge is sold.
Gerry Khatchikian, ASA, TRC (4 languages spoken: English, French, Spanish, Armenian)
Realtor Associate
ASA: Associate of the Society of Actuaries TRC: Transnational Referral Certification
All photos and/or written content produced by Gerry Khatchikian. All rights reserved and may not be reproduced or reprinted without express written permission of Gerry Khatchikian, Realtor Associate.
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