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Anderson Twp Real Estate Market – May 2020

by | Jun 1, 2020 | Market News, Real Estate

New Listings: 92

vs. last month: +41.54%

vs. last year: -25.20%

Avg. Sale Price: $330,941

vs. last month: -1.56%

vs. last year: +6.62%

Avg. Days On Market: 22.90

vs. last month: -18.79%

vs. last year: -15.93%

Absorption Rate: 24.96%

vs. market equilibrium: +8.29%

(based on data from Cincinnati MLS)

In May 2020, New Listings were up over 40% vs. last month but down over 25% vs. last year. Avg. Sale Price was down slightly vs. last month but up quite a bit vs. last year. Avg. Days On Market was down considerably vs. last month and vs. last year.

The absorption rate is a lesser known figure to the general public, but it may be the most important one. It factors in active & pending listings (current inventory), along with the average number of listings sold per month over the past 6 months. The resulting figure is the percentage of current inventory sold each month. Our current absorption rate of 24.96% can also be expressed as a 4 months’ supply of homes. This rate is 8.29% higher than the market equilibrium rate of 16.67%, or a 6 months’ supply of homes. When the absorption rate is higher than 16.67%, the market conditions favor sellers. When it’s lower than 16.67%, buyers have the upper hand.