Salt Lake Real Estate Absorption Rate
November 14th, 2007 Categories: Real Estate News
Here is the Salt Lake Real Estate Absorption rate.
We have some segments that are doing well and others that are not moving.
To understand the Salt Lake Real Estate Absorption Rate, you simply divided the number of active listings by the number of homes that have sold in the previous month. For example the $120,000-139,999 range. There are 122 active listings and in the month of October there were 53 closings. Divide 122/53 and you get 2.3 months supply. Mean if no other homes came on the market it would take 2.3 months to absorb the current inventory.
The key is, the ones that are priced right are selling and the rest are not. See the graph for The Tale of Two Markets Based on the data from a prior post. The days on the market for priced correctly and that are in good condition is fairly short.
|
List Price Range |
# Listings Active |
# Listings Sold in October |
Months Supply |
||
|
$0 |
- |
$9,999 |
3 |
0 |
??? |
|
$10,000 |
- |
$19,999 |
4 |
0 |
??? |
|
$20,000 |
- |
$29,999 |
5 |
4 |
1.25 |
|
$30,000 |
- |
$39,999 |
6 |
4 |
1.50 |
|
$40,000 |
- |
$49,999 |
12 |
2 |
6.00 |
|
$50,000 |
- |
$59,999 |
8 |
3 |
2.67 |
|
$60,000 |
- |
$69,999 |
6 |
6 |
1.00 |
|
$70,000 |
- |
$79,999 |
12 |
3 |
4.00 |
|
$80,000 |
- |
$89,999 |
9 |
5 |
1.80 |
|
$90,000 |
- |
$99,999 |
12 |
4 |
3.00 |
|
$100,000 |
- |
$119,999 |
53 |
16 |
3.31 |
|
$120,000 |
- |
$139,999 |
122 |
53 |
2.30 |
|
$140,000 |
- |
$159,999 |
225 |
79 |
2.85 |
|
$160,000 |
- |
$179,999 |
399 |
87 |
4.59 |
|
$180,000 |
- |
$199,999 |
520 |
97 |
5.36 |
|
$200,000 |
- |
$249,999 |
1,226 |
207 |
5.92 |
|
$250,000 |
- |
$299,999 |
1,179 |
157 |
7.51 |
|
$300,000 |
- |
$349,999 |
854 |
91 |
9.38 |
|
$350,000 |
- |
$399,999 |
677 |
52 |
13.02 |
|
$400,000 |
- |
$449,999 |
462 |
25 |
18.48 |
|
$450,000 |
- |
$499,999 |
423 |
22 |
19.23 |
|
$500,000 |
- |
$599,999 |
560 |
27 |
20.74 |
|
$600,000 |
- |
$699,999 |
351 |
17 |
20.65 |
|
$700,000 |
- |
$799,999 |
228 |
7 |
32.57 |
|
$800,000 |
- |
$899,999 |
120 |
8 |
15.00 |
|
$900,000 |
- |
$999,999 |
99 |
3 |
33.00 |
|
$1,000,000 |
- |
$1,249,999 |
88 |
6 |
14.67 |
|
$1,250,000 |
- |
$1,499,999 |
76 |
0 |
??? |
|
$1,500,000 |
- |
$1,749,999 |
28 |
0 |
??? |
|
$1,750,000 |
- |
$1,999,999 |
41 |
1 |
41.00 |
|
$2,000,000 |
- |
$2,499,999 |
28 |
1 |
28.00 |
|
$2,500,000 |
- |
$2,999,999 |
18 |
1 |
18.00 |
|
$3,000,000 |
- |
$3,999,999 |
14 |
0 |
??? |
|
$4,000,000 |
- |
$4,999,999 |
5 |
0 |
??? |
|
$5,000,000 |
- | and over |
12 |
0 |
??? |
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