Current Absorption Rate for Gardner, KS Real Estate

Current Absorption Rate for Gardner, KS Real Estate

Absorption Rate


About Absorption Rate Report

There are 2 kinds of Absorption Rate as follows:

  1. Absorption Rate based on Closed Sales (%)
    Absorption Rate based on Closed Sales (%) = the number of properties sold divided by the number of properties for sale (in percentage).
    For instance, if there are 1,000 active listings and 100 of them sold in a given month, the rate of absorption would be 10%. 10% of the market is being sold in that given month.
  2. Absorption Rate based on Pended Sales (%)
    Absorption Rate based on Pended Sales (%) = the number of properties pended divided by the number of properties for sale (in percentage).

The Rate of Absorption measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed (sold or pended) each month. The Absorption Rate is presented as a percentage (%) of the current inventory. 

How to Use Months of Inventory Report? 

Refer to For Sale vs. Sold Report for the number of properties for sale, pended and sold that are used to calculate the Months of Inventory report. As a rule of thumb, an absorption rate of less than 16.67% indicates a strong buyer market while an absorption rate level greater than 33.33% indicates a seller’s market.

 
   
Gardner, Gardner KS, Gardner Kansas

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5 Year Trend for the Number of Homes For Sale, Sold, Under Contract and New Listings for Olathe, KS Real Estate

5 Year Trend for the Number of Homes For Sale, Sold, Under Contract and New Listings for Olathe, KS Real Estate

For Sale vs. Sold vs. Pended

About the For Sale vs. Sold Report
  • The For Sale numbers are the snapshot of the number of property for sale at the end of the month.
  • The Pended numbers represent the number of properties that went into the “pending” status in that month. 
  • The New Listing numbers represent the number of properties that are new listed in a particular month.
  • The Sold numbers represent the number of properties that are sold on a particular month.
What Does For Sale vs. Sold Report Do?
  • It helps determine the trend of market supply and demand.
  • It helps determine whether the current market is a seller or buyer market.
  • It helps determine the minimum length of the listing period.
  • It helps identify which price range the majority of the properties are in, within a given area.
  • It helps focus on where the buyer’s activities are and the market condition in those areas.
How to Use For Sale vs. Sold Report?
  • Use with Average Price Per Sqft Report to set competitive listing price.
  • Use current inventory level to determine market condition. The current inventory level is derived by dividing the monthly listing number by the monthly sold number which is shown in Months of Inventory graph. As a rule of thumb, an inventory level of less than three indicates a strong seller market while an inventory level greater than six indicates a buyer’s market.
  • A download trend of listing inventory and an upward trend of the number of properties sold indicates the seller is in a better negotiating position.
  • An upward trend of listing inventory and a downward trend of the number of properties sold indicates the buyer is in a better negotiating position.
You Should Know
  • The properties sold figures are derived from recorded transactions.
  • Current monthly sold figures might be adjusted upward on the next month’s report. This is to account for any closed transactions that are reported late.

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Instantly, find out the value of your home in Olathe, KS – Olathe, KS Real Estate

Are you curious about the Olathe, KS real estate market? Maybe even the current value of your home? As a ReeceNichols agent, I have a few resources I can share with you.
Olathe real estate, Olathe KS Real Estate, Olathe Kansas Real Estate
First, my ReeceNichols website has a tool that allows you to instantly see estimated home values at any time. This tool uses automated data modeling techniques to provide you 3 different value estimates to review. This is a great way to generally keep tabs on your home in Olathe, KS.
Since this home value tool is automated and cannot take the unique features of your home into account, when you’re ready for a more in depth and accurate look, let me put my expertise to work for you. I can personally prepare a comparative market analysis (CMA) to provide a more detailed home value by reviewing neighborhood trends, current and past sales and the overall condition of your home. These tools are at your disposal so please take full advantage of these powerful resources I have at ReeceNichols to help you stay informed during your home ownership journey.
Visit my ReeceNichols website to see this great feature in action. 
  

Thinking of selling a home in Olathe, KS in the future . . .
but wondering how the Garmin expansion, hike in interest rates, Sprint layoffs, change in home values, low real estate inventory, increase in relocation buyers and the holiday season will affect you?

Real Estate is local and these changes affect everyone differently. Want to know how it affects you?

Let’s talk . . .

Chris Dowell

Mobile: (913) 712-9313
Office: (913) 254-2470
ReeceNichols Olathe

View Olathe, KS homes for sale

Instantly find out the value of your Olathe, KS home

Serving Johnson County, KS including: Olathe, Gardner, Spring Hill, Edgerton, Overland Park, Leawood, Lenexa, De Soto, Shawnee, Prairie Village, Mission and Stilwell.

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Start Your Search of Olathe KS Real Estate – Thinking about buying Olathe, KS Real Estate? Start your search on my ReeceNichols Olathe real estate website for your Olathe, KS real estate

   Start Your Search of Olathe KS Real Estate

Thinking about buying Olathe, KS Real Estate?

Start your search on my ReeceNichols Olathe real estate website for your Olathe, KS real estate
Enter location, price minimum, price maximum, bedrooms and bathrooms. If you would like to add more options click the More Options Button. There is even more options on the bottom left on the drop down link.
Have fun searching for home and when you’re ready to sneak a peek at any homes you found online, call Chris to schedule your private “no obligation” appointment.





Thinking of buying or selling Olathe, KS real estate in the future . . .
but wondering how the Garmin expansion, hike in interest rates, Sprint layoffs, change in home values, low real estate inventory, increase in relocation buyers and the holiday season will affect you?

Real Estate is local and these changes affect everyone differently. Want to know how it affects you?

Let’s talk . . .

Chris Dowell

Mobile: (913) 712-9313
Office: (913) 254-2470
ReeceNichols Real Estate – Olathe

Serving Johnson County, KS including: Olathe KS real estate, Gardner, Spring Hill, Edgerton, Overland Park, Leawood, Lenexa, De Soto, Shawnee, Prairie Village, Mission and Stilwell.

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