Barb Averell

Adams Township Market Update

Homes priced under $199,999

December 2009 to May 2010

The past three months have been great when compared to the three previous months in Adams Township.

I love facts, figures and statistics! I feel it is important to look at statistics to see where our market has been, where it is going and what price ranges and areas have changed the most and why. Maybe there is a new company moving employees into the area, possibly a company moving out of the area, etc.

One of the things that I look at is the absorption rate.

The absorption rate is the rate that the current inventory gets absorbed (or sold) in a given month. A small number tells me that more homes are being sold than going on the market. A larger number tells me that more homes are coming on the market than being sold.

Here is a look at the absorption rate in this price range and area for the last 6 months:

• Dec 2009 - 25 months of inventory
• Jan 2010 - 25 months of inventory
• Feb 2010 - 22 months of inventory
• March 6.8 months of inventory
• April 4.2 months of inventory
• May 7.7 months of inventory

Some May stats:

• Average active price is $159,000
• Average sold price is $180,000
• Sold to list price difference % - 96%
• Average days on the market - 225

If you had your home on the market last year and have taken it off, now is the time to get it back on. Call a Real Estate Professional today!

* Reports published June 2010, based on data available at the end of May 2010. All reports presented are based on data supplied by the WPML. (via TrendGraphics).

Adams Township Market Update

$200,000 to $399,999 price range

December 2009 thru May 2010

The market is great in Adams Township! If you are looking to size down or up .... it is a great time to sell a home in Adams Township.

The absorption rate in December of 2009 was 64 months of inventory. There were 64 homes on the market and only one sold. Those numbers have drastically changed. Here is the "absorption rate" - "months of inventory" for the past 6 months:

• Dec 2009 - 6.4 months of inventory
• Jan 2010 - 64 months of inventory
• Feb 2010 - 20.7 months of inventory
• April 2010 - 7.3 months of inventory
• May 2010 - 6 months of inventory (most articles I've read state that a 5 or 6 month of inventory is considered a "healthy market".

Some May stats:

1. Average days on the market was 99
2. Sold to list price % difference was 97%
3. Average sold price $295,000
4. Average active price $309,000

* Reports published June 2010, based on data available at the end of May 2010. All reports presented are based on data supplied by the WPML. (via TrendGraphics).

Middlesex Township - Market Update

$200,000 to $399,999 - December 2009 thru May 2010

The Middlesex Township area in Butler County has a good absorption rate ----- down from 7 months of inventory in Jan 2010 to 3 months of inventory in May of 2010.

As a Realtor, we looking at "absorption rates" when working on a marketing plan and most importantly when completing a "comparative market analysis" or "CMA". What is an absorption rate? It is:

The absorption rate is the rate that the current inventory gets absorbed (or sold) in a given month. A small number tells me that more homes are being sold than going on the market. A larger number tells me that more homes are coming on the market than being sold.

Here are some stats for the past 6 months (December 2009 thru May 2010) in Middlesex Twp (price range $200,000 to $399,999):

1. The average active prices has been from $271,000 to $313,000
2. The average sold price has been from $245,000 to $355,000
3. The average sold to list price has been from 94% to 97%
4. The average days on the market has varied from 169 to 239 days

* Reports were published June 2010, based on data available at the end of May 2010. All based on data supplied by the WPML.

Absorption Rate drops to "2 months of inventory"

The absorption rate is what I like to look at to really get a feel for what is going on in the market. What is the absorption rate? The absorption rate is the rate that the current inventory gets absorbed (or sold) in a given month. A small number tells me that more homes are being sold than going on the market. A larger number tells me that more homes are coming on the market than being sold.

What is happening in Adams Township? Well, it appears that homes under $200,000 are in demand right now. In January of 2010 we had a 11 month housing supply which meant that based on that current months of sales and based on the current homes on the market, it would take 11 months to sell them.

In March, April and May .... activity looked better and better! The months of housing supply dropped from 6.5 months in March to 5.5 months in April and then 2 months in May! That tells me that now is the time to get your home on the market because you have LESS competition (less competing homes on the market).

In May:

1. The average active price was $155,000
2. The average sold price was $165,000
3. The average sold to list price difference was 98%
4. The average days on the market was 83

* All info from TrendGraphics and based on data at the end of May 2010. All data supplied to TrendGraphics by the West Penn Multi List.

Jackson Township - MARKET UPDATE

$200,000 - $399,999 - From Dec 2009 to May 2010

Jackson Township remains a good market to buy and sell real estate. Here are some facts about this particular market:

1. The average active listing price in this particular price range ranges from $279,000 to $357,000 in the past 6 months
2. The average sold price has been between $240,000 and $291,000
3. The percentage between what the home actually sold for vs the list price ranged from 92% to 97%
4. The average days on the market of the sold homes varied from 7 to 115 days on the market
5. There is currently a 5 months "housing supply" or "absorption rate". I have read different statistics but I often hear that a 5 to 6 months housing supply is a "healthy market".

If you have a home in Jackson Township and have considered selling, now is the time to contact a Real Estate Professional!

(Based on data from TrendGraphics. Based on data available at the end of May 2010. Data supplied by WPML.)