Today’s Show Topic- Absorption Rate
What Is Absorption Rate in Real Estate and Why Is It Important?
Absorption rate is the rate at which homes sell in a given area during a given time period. Absorption rate is calculated by dividing the number of sales in a given month by the number of available homes for sale. It is the inverse of months of supply.
Naperville Current Inventory as of today
300K- 128 Units sold in 6 months. 21.33 sold per month. 62 Units or 2.9 months Supply
300-400K 373 Units sold in 6 months 62.16 sold per month. 169 Units or 2.7 months Supply
400-500K 369Units sold in 6 months 61.50 sold per month. 194 Units or 3.1 months Supply
500-750K 252Units sold in 6 months 42.00 sold per month. 291 Units or 7.0 months Supply
750-$1M 54 Units sold in 6 months 9.00 sold per month. 118 Units or 13.1 months Supply
$1M + 17 Units sold in 6 months 2.83 sold per month. 108 Units or 38.1 months Supply
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30 year real estate veteran and distinguished Real Estate broker Scott Gerami has enthusiastically served clients in the Greater Chicago area since 1987. Consistently ranked as a top producer with Re/Max Professionals Select,Scott’s accolades include, Hall of Fame Award, Presidents Club, Platinum Club Award, Lifetime Achievement Award, Diamond Number One Expert and two time Technology Innovator Award winner. Scott’s passion for all things technology has taken his listings to new heights with the use of aerial photography by drone.