In the spirit of sharing… this was just too important to not share with you
Do you know what absorption rate is? In real estate, it is basically this:
The length of time it would take to sell every home that is currently available for sale, as long as no one else puts their home up for sale.
Why is it important? It is ONE of the ways we determine how healthy (or not) the real estate market is. It’s a tool for knowing how we should price your home in order to get it sold in today’s real estate market.
I was looking at Post Falls homes – checking out what their “absorption rate” currently was. Needless to say, I was VERY happy to see that with January’s closings tracked, the absorption rate for Post Falls dropped to 9.5 months for the first time in YEARS. Post Falls is UNDER 10 months. That’s great! That’s lower than at any point in 2011.
Here’s the thing… here is the absorption rate break down for our local market:
0-5 Months – Seller’s Market
5-7 Months – Balanced Market
7+ Months – Buyer’s Market
We are progressing more and more into a healthy, balanced market. It’s been a long time coming. I’m ready, how about you?
What does all of this mean? It means that if you own a home and want to make your next move in this crazy real estate market – CALL US. Just make your move. We’ll show you how you can take advantage of all of this.
Call Chuck 208-819-2964
Chuck & Christina Ethridge
208-819-2964
