Absorption Rates For the 7 County Metro Area

211_kleenex Absorption rates are a  calculation of how long it will take for all the homes on the market to be sold, or absorbed, based on how many homes are on the market and how many were purchased in the last 30 days.

I thought the box of kleenex would go well with this post for a couple of reasons that I won’t get into.  If you know someone who has their home on the market please give them a big hug.

Homes sales are always slower during the holidays and they generally pick up in January and February.  This year with the cold and snowy weather is also slowing things down.

The numbers used for calculating absorption rates are from the regional MLS, which is deemed reliable but not guaranteed, and should not be confused with MLSonline, which is a real estate company, not the MLS.

To view absorption rates and other numbers from prior months please see Local Market Conditions & Home prices.

Anoka County –  14.3 Months 

Carver County –  14.7 Months 

Dakota  County  – 12.6 Months 

Hennepin  County  – 10.82 Months 

Ramsey County – 10.9 Months

Scott County – 14.6  Months 

Washington – 13.7  Months

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6 Replies to “Absorption Rates For the 7 County Metro Area”

  1. Patient Buyer says:

    Here is an interesting question:

    Has the number of listings pulled off over the holidays exceeded or lagged the slowness in sales due to weather. I regularly use the coldwell site to view the metro area, and I’ve seen the total number of listing go from about 56,000 to around 48,000 from about august to now.

    I am sure some was due to sales, some due to listings pulled for the winter, and some for other reasons.

    Is 48,000 listings a lot of year-end “carry-over”? I don’t know.

    My guess is that the carry-over inventory will be re-joined by any pulled listings, plus the normal new inventory that we get in the late winter/spring. Maybe some will decide not to sell for an extended time. I know a retired couple who have abandoned all plans to sell, since they can’t get their ask.

    I there historic absorption rates? Is the rate now better or worse than over the summer?

    Inquiring minds want to know.

    Patient Buyer
    🙂

  2. Whoo-Hoo! Ram-see! Ram-see!
    (sorry, I thought this was a contest)

    Seriously, you do have enough of this data over time that you can start making graphs of each county – or I can if I take the time to. It would be very interesting.

    The interesting thing to me is that the suburban counties do appear to be constantly getting worse but the inner core appears to be more or less holding on. I think there is a real trend developing here.

  3. Erik – I can make a graph, good idea, I’ll call it the Hare chart. 🙂 The Metro area is small enough so that we are all impacted by what happens in the burbs. There is one thing we always notice and that is when sales slow down or speed up it starts at the core and moves out. The further out you go right now the slower the longer the market times are.

  4. Patient buyer, you can look at historic data by clicking on the link in my post. Yes absorption rates are always higher this time of year than they are in the spring. I showed some blips in one of my listings VS. Sales charts caused by weather. Sales go down when the weather is cold and snowy and listings dip slightly too. I want to do some digging because this year there are so many canceled and expired listings that I think some have just gone off the market without being sold and that is lowering our inventory. Our inventory has been going down each month while the number of sales seem to be fairly level.

  5. Most apropos graphic I’ve seen all week!

  6. Maybe Its Just Because Im Looking For ATownhouse

    Granted, I really should have bought something when the market was much better. Back when they were giving out those mortgages to just about anybody. Thats an accounting method that would have worked well with my credit history.
    There are a numb…

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