New Listings: 17

vs. last week: +- 0%

vs. last month: -5.56%

vs. last year: +13.33%

Avg. Sale Price: $394,373

vs. last week: +31.58%

vs. last month: +2.57%

vs. last year: +20.29%

Avg. Days On Market: 68.29

vs. last week: +307.70%

vs. last month: +277.71%

vs. last year: +698.71%

Absorption Rate: 24.91%

vs. market equilibrium: +8.24%

vs. last week: +0.22%

(based on data from Cincinnati MLS)

Weekly figures are not the best measure of market conditions, because they only measure 7 days at a time. However, they do indicate market direction and fluctuation.

This week, New Listings are unchanged vs. last week, down a bit vs. last month, and up considerably vs. last year. Avg. Sale Price and Avg. Days On Market figures this week are an outlier. Both are much higher than usual, most likely due to a high percentage of sold listings being higher-end listings that have been on the market for a long time.

The absorption rate is a lesser known figure to the general public, but it may be the most important one. It factors in active & pending listings (current inventory), along with the average number of listings sold per month over the past 6 months. The resulting figure is the percentage of current inventory sold each month. Our current absorption rate of 24,91% can also be expressed as a 4 months’ supply of homes. This rate is 8.24% higher than the market equilibrium rate of 16.67%, or a 6 months’ supply of homes. When the absorption rate is higher than 16.67%, the market conditions favor sellers. When it’s lower than 16.67%, buyers have the upper hand.