Buyer's Market in Lakefront Homes
Price Ranges | # of Sales in 2007 | # of Homes Listed | No. Months of Inventory | Absorption Rate Per Month | Market Condition |
$0 - $149,999 | 46 | 17 | 4.43 | 3.83 | Sellers |
$150,000 - $199,999 | 93 | 50 | 6.45 | 7.75 | Neutral |
$200,000 - $249,999 | 102 | 83 | 9.76 | 8.50 | Buyers |
$250,000 - $299,999 | 97 | 95 | 11.75 | 8.08 | Buyers |
$300,000 - $349,999 | 73 | 70 | 11.51 | 6.08 | Buyers |
$350,000 - $399,999 | 53 | 93 | 21.06 | 4.42 | Buyers |
$400,000 - $449,999 | 40 | 32 | 9.60 | 3.33 | Buyers |
$450,000 - $499,999 | 27 | 37 | 16.44 | 2.25 | Buyers |
$500,000 - $549,999 | 10 | 23 | 27.60 | 0.83 | Buyers |
$550,000 - $599,999 | 15 | 29 | 23.20 | 1.25 | Buyers |
$600,000 - $649,999 | 13 | 19 | 17.54 | 1.08 | Buyers |
$650,000 - $699,999 | 9 | 17 | 22.67 | 0.75 | Buyers |
$700,000 - $749,999 | 9 | 10 | 13.33 | 0.75 | Buyers |
$750,000 - $799,999 | 6 | 19 | 38.00 | 0.50 | Buyers |
$800,000 - $849,999 | 4 | 9 | 27.00 | 0.33 | Buyers |
$850,000 - $899,999 | 10 | 8 | 9.60 | 0.83 | Buyers |
$900,000 - $949,000 | 1 | 3 | 36.00 | 0.08 | Buyers |
$950,000 - $999,999 | 3 | 15 | 60.00 | 0.25 | Buyers |
$1,000,000 - $1,249,999 | 12 | 14 | 14.00 | 1.00 | Buyers |
$1,250,000 - $1,499,999 | 5 | 17 | 40.80 | 0.42 | Buyers |
$1,500,000 - $1,749,999 | 1 | 13 | 156.00 | 0.08 | Buyers |
$1,750,000 - $1.999,999 | 0 | 9 | - | 0.00 | Buyers |
$2,000,000 - $2,499,999 | 1 | 8 | 96.00 | 0.08 | Buyers |
$2,500,000 - $2,999,999 | 2 | 10 | 60.00 | 0.17 | Buyers |
$3,000,000 - $3,999,999 | 5 | 8 | 19.20 | 0.42 | Buyers |
$4,000,000 + | 0 | 2 | - | 0.00 | Buyers |
| | | | | |
How to read this chart
Absorption rate per month is based on the full year of sales for 2007. The number of sales is divided by the number of months (12), which gives us the number of houses the market absorbs per month in any given price range.
Number months of inventory is how long it will take to deplete the current inventory based on the monthly absorption rate. This is a more accurate indicator of market performance than Days on the Market.
Current Market Condition is based on the inventory and the monthly absorption rate. An inventory of 6 months is a Neutral Market. Anything less than six months of inventory is considered a “Sellers” Market; anything more is considered a Buyer’s” Market. In a second home market, however, a Seller’s motivation and flexibility is rarely predicated on inventory alone. Please contact us for further market information.