Life is Good in Kitsap
Helping People Buy and Sell Homes
Karen "KJ" Lange, Realtor:: :: Direct Line 360.649.5413:: :: www.lifeisgoodinkitsap.com
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October 2009 thru September 2010 Market Facts and Trends
The market is approaching "balanced." The inventory is about the same as it was in March of this year. We're at 8.9 months of inventory on hand which means if no more homes entered the marketplace, the current rate would take 8.9 months to use all the inventory. This is referred to as "absorption rate" for the market. We tend to think that when that rate is closer to 6 months, the market is balanced.
The market is approaching "balanced." The inventory is about the same as it was in March of this year. We're at 8.9 months of inventory on hand which means if no more homes entered the marketplace, the current rate would take 8.9 months to use all the inventory. This is referred to as "absorption rate" for the market. We tend to think that when that rate is closer to 6 months, the market is balanced.
Average "Days on Market" compared with "Sold Price in relation to Original List Price"
Inventory Based on Closed Sales
Some marketers use Month of Inventory based on "Pending" Sales. But not all Pending sales close, so we will simply use actual closed sales for this purpose.
