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New Listings: 664

vs. last week: +14.88%

vs. last month: +27.20

vs. last year: -13.20%

Avg. Sale Price: $236,617

vs. last week: +3.88%

vs. last month: -7.11%

vs. last year: +3.44%

Avg. Days On Market: 25.15

vs. last week: -3.38%

vs. last month: -9.37%

vs. last year: -7.30%

Absorption Rate: 25.92%

vs. market equilibrium: +9.25%

vs. last week: -0.83%

vs. last month: -2.20%

(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.

This week, New Listings are up considerably vs. last week and last month, but still down over 13% vs. last year. Avg. Sale Price is up 3.44% vs. last year and Avg. Days On Market down over 7%. These figures suggest that although inventory is increasing, it’s still in shorter supply 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 25.92% can also be expressed as a 3.86 months’ supply of homes. This rate is 9.25% 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.