Absorbtion Rates - Grant Wiebe's Kelowna Real Estate Video Blog
Grant Wiebe - Kelowna Realtor http://GrantWiebe.com 250.869.2279 Century 21 Assurance Realty
Real estate absorbtion rates tell us the amount of time it will take to absorb the current inventory (not taking into account future new inventory). In a buyers' market, this statistic should not be ignored. Why is this so important?Eg. If you want to sell within 3 months, and only 10 homes will sell in your neighborhood per month, you want to make sure your home is among at least the 30 most attractive homes (based on price, location, size, condition, etc) to give yourself a good chance of a sale. If the near future of the market is uncertain, you should be more aggressive.
Current absorption rates in the Kelowna area: Single Family Homes - 8 months of inventory on market, Townhomes - 11 months of inventory on market, Condos - 13 months of inventory on market
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