Housing Absorption Rates Rochester MN |
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|
$150 - $200k |
$200 - $300k |
$300 - $400k |
$400 - $500k |
$500 - $750k |
$750 - 1 Million |
1 Million + |
|
|
|
|
|
|
|
|
Jan-08 |
4.4 Months |
6.9 Months |
9.2 Months |
12.0 Months |
13.8 Months |
7.5 Months |
7.2 Months |
Feb-08 |
4.6 Months |
6.9 Months |
9.5 Months |
12.2 Months |
13.4 Months |
7.5 Months |
7.2 Months |
| Mar-08 | 6.3 Months |
7.7 Months |
11.2 Months |
12.4 Months |
17.2 Months |
10.3 Months |
6.0 Months |
| April-08 | 5.3 Months |
6.8 Months |
9.6 Months |
11.3 Months |
16.0 Months |
11.1 Months |
9.6 Months |
Absorption rate is the analysis of supply and demand for housing relative to a price range. It answers the question, how long would it take to sell off the current housing inventory if another house did not come on the market? The National Association of REALTORS states that an absorption rate of less then 6 months starts to favor the Seller and an absorption rate greater then 6 months starts to favor the buyer. Rising or declining price trends can be predicted based on absorption rate numbers. The higher the absorption rate, the more downward pressure on prices due to an over supply of housing inventory. The lower the absorption rate, prices will tend to rise due to a tighter supply of housing inventory.
Data supplied from the Southeast Minnesota Association of REALTORS Multiple Listing Service (MLS) and compiled by Shawn Buryska, CRS, GRI, ESA – Coldwell Banker Burnet Realty, Rochester Minnesota 55901
Data parameters: Property type - Residential; Type of Property - Single Family; List Price - See table above; City - Rochester; Dates - 12 months back from the end of the last month
Featured Listing
1802 16th St NW
Rochester MN 55901
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Ranch
3 Bedroom
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Recent Real Estate News
2008-05-08
Rochester MN Real Estate Market Update (April 28 to May 4, 2008)
There are currently 1172 residential properties for sale in Rochester, Minnesota with an average list price of $234,262 and 156 days on the market.
Last week, April 28 to May 4, 2008, there were 1223 homes for sale; average list price of these properties... read more