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Market Report: Absorption Rates for North Albany, OR Oct 2016

North Albany (Benton County)          
Price Range Active Listings as of 11/7/16 Sold Listings Last 6 Months Average Sold Per Month Months of Inventory Av. Days on Market Solds
$0 – $99,999 * * * * *
$100,000 – $149,999 * 1 * * 241
$150,000 – $199,999 * 8 1.33 * 66
$200,000 – $249,999 4 18 3.00 1.33 74
$250,000 – $299,999 3 27 4.50 0.67 63
$300,000 – $349,999 10 14 2.33 4.29 73
$350,000 – $399,999 7 23 3.83 1.83 70
$400,000 – $449,999 2 8 1.33 1.50 92
$450,000 – $499,999 2 4 0.67 3.00 129
$500,000 – $599,999 1 2 0.33 3.00 147
$600,000 – $699,999 2 1 0.17 12.00 361
$700,000 + 2 * * * *
  33 106   1.87 132

What is an Absorption Rate, and why does it matter?

The table above shows the rate at which the homes for sale are being sold. As the rate goes down, it indicates that the “inventory” (in this case, homes for sale in that area) is declining. More homes are being sold than are being listed. As the rate goes up, it implies that there are more homes coming on the market than there are buyers ready to purchase.

The Absorption Rate tells you how well the market is “absorbing” the current inventory of listings. This also tells you whether it is a better time to buy or sell. Hence the terms “Seller’s Market” and “Buyer’s Market”.

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