I do love numbers, and these are in months, the data used came from the RMLS, (MLS) and is deemed reliable but not guaranteed. It doesn't come with a warranty either. This covers what is referred to as the 7 county metro area not to be confused with the 13 county metro are which covers the same area, plus six more counties.
The paper towels are to help absorb any excess inventory. The absorption rates have gone up for the last two months, partly due to a seasonal variation that we see every year.
- Anoka County 10 Months
- Carver County 13 Months
- Dakota County 10 Months
- Hennepin County 9 Months
- Ramsey County 9 Months
- Scott County 12 Months
- Washington County 12 Months
I checked back to last year and found that Anoka, Hennepin and Ramsey Counties have faster absorption rated this year than last the rest of the counties have slower absorption rates. The inventory of homes on the market is down from last year. That means that there are fewer buyers and fewer sellers than there were in 2007.
For absorption rates form prior months and related numbers go to Local market conditions & home prices.