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The number of homes on the market remains low and the lowest priced homes are selling the fastest. Homes are selling the fastest in Hennepin and Anoka Counties.
Absorption rates are a calculation of how long it will take for all the homes on the market to be sold, or absorbed, at the current rate of homes sales. Absorption rates can change quickly. I love numbers and these numbers are in months, the data used came from the RMLS, (MLS) and is deemed reliable but not guaranteed. Sadly there are no guarantees in life. These are for the seven county metro area which is like the 13 county metro area except smaller and are for the last 30 days.
Anoka County 5.7 Months
Carver County 9.7 Months
Dakota County 6.2 Months
Hennepin County 5.3 Months
Ramsey County 6.8 Months
Scott County 10 Months
Washington County 7.7 Months
For more numbers like these see local market conditions and remember real estate is local.
