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New Listings: 578

vs. last week: -15.25%

vs. last month: +29.89%

vs. last year: -26.56%

Avg. Sale Price: $227,770

vs. last week: -6.69%

vs. last month: -5.63%

vs. last year: +2.78%

Avg. Days On Market: 26.03

vs. last week: +3.33%

vs. last month: -12.21%

vs. last year: -19.01%

Absorption Rate: 26.75%

vs. market equilibrium: +10.08%

vs. last week: -0.80%

(based on data from Cincinnati MLS)

Weekly figures are not the best measure of market conditions, because they only measure 7 days at a time. However, they do indicate market direction and fluctuation.

Comparing this week’s figures to last week and last month doesn’t show a consistent trend. However, comparing these figures to last year shows New Listings down more than 25%, Avg. Sale Price up nearly 3%, and Avg. Days On Market down nearly 20% – all of which indicate a tighter market than 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 26.75% can also be expressed as a 3.74 months’ supply of homes. This rate is 10.08% 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.