Fort Thomas, Covington Alexandria Absorption RatesReal Estate BlogsUpdated on Apr 22, 2011 View more like this | Visit FORT THOMAS, KY | Contact Exit Realty Tri State |
What is Absorption Rate (Months of Housing Supply)?
The definition of Absorption Rate (Months of Housing Supply) is: The number of units of property that will be leased or sold in a market over a specific time period. The Absorption Rate (Months of Housing Supply) is an accurate portrayal of actual time on the market. Days on Market reported on the MLS can easily be manipulated by canceling, withdrawing, allowing to expire, then re-listing with a fresh count being logged for days on market. The Absorption Rate of a geographic region as a whole means nothing. Each neighborhood has specific qualities that need to be identified when determining an accurate assessment of the Absorption Rate that pertains to your property. Examples: type of property, price range, neighborhood, time frame. I will use 3 examples of single family residential property values ranging from $100,000 to $200,000 over the past 12 months, citing the current 3 month period vs. the previous 7 to 12 month. This range is pretty typical for the 1st time home buyer.
Fort Thomas $100,000 to $200,000 is currently 7.39 months. 13 sales over the past 3 months with 32 active listings. Prior 7 to 12 months was 5.71 months.
Covington $100,000 to $200,000 is currently 45 months. 3 sales over the past 3 months with 45 active listings. Prior 7 to 12 months was 13.14 months
Alexandria $100,000 to $200,000 is currently 12.81 months. 11 sales over the past 3 months with 47 active listings. Prior 7 to 12 months was 10.32 months.
As you can see a geographic region would not be a good swatch. Quite a difference in these market neighborhoods. The healthiest marketing time is typically 4 to 6 months.
Fort Thomas has a mild fever, Alexandria has flu-like symptoms and Covington has taken a turn for the worse, and is need of immediate medical attention!
Enjoy the Day!
Eric J. Barth 859-912-2104
The definition of Absorption Rate (Months of Housing Supply) is: The number of units of property that will be leased or sold in a market over a specific time period. The Absorption Rate (Months of Housing Supply) is an accurate portrayal of actual time on the market. Days on Market reported on the MLS can easily be manipulated by canceling, withdrawing, allowing to expire, then re-listing with a fresh count being logged for days on market. The Absorption Rate of a geographic region as a whole means nothing. Each neighborhood has specific qualities that need to be identified when determining an accurate assessment of the Absorption Rate that pertains to your property. Examples: type of property, price range, neighborhood, time frame. I will use 3 examples of single family residential property values ranging from $100,000 to $200,000 over the past 12 months, citing the current 3 month period vs. the previous 7 to 12 month. This range is pretty typical for the 1st time home buyer.
Fort Thomas $100,000 to $200,000 is currently 7.39 months. 13 sales over the past 3 months with 32 active listings. Prior 7 to 12 months was 5.71 months.
Covington $100,000 to $200,000 is currently 45 months. 3 sales over the past 3 months with 45 active listings. Prior 7 to 12 months was 13.14 months
Alexandria $100,000 to $200,000 is currently 12.81 months. 11 sales over the past 3 months with 47 active listings. Prior 7 to 12 months was 10.32 months.
As you can see a geographic region would not be a good swatch. Quite a difference in these market neighborhoods. The healthiest marketing time is typically 4 to 6 months.
Fort Thomas has a mild fever, Alexandria has flu-like symptoms and Covington has taken a turn for the worse, and is need of immediate medical attention!
Enjoy the Day!
Eric J. Barth 859-912-2104
Fort Thomas, Covington Alexandria Absorption Rates
Fort Thomas, KY 41075
