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Waterfront Sales Are Improving and Here Are the Numbers to Support the Notion

Waterfront Sales - Posted On 02/17/2016 09:52 AM, Last Updated 02/17/2016 10:35 AM

Well, we talk about it a lot and how the market has partially recovered (unit sales up but prices below pre-recession median sale prices) and the latest absorption data supports the notion of good times ahead. Absorption rate is simply the number of months required to exhaust the current inventory (listings). Please note that the absorption rates have fallen in each of the price categories except over a million. Bottom line, inventory is moving faster. Buyers are here and sellers are receptive. After all, it takes two to tango. Enjoy the day.

    Vilas & Oneida County
On-Water Homes $300,000 and Under
Number Currently Listed 365325Absorption Rate: 18.6Months2015
Number of Sales Last 12 Months236315Absorption Rate: 12.4Months2016
On-Water Homes $300,001 to $500,000
Number Currently Listed 227221Absorption Rate: 22.0Months2015
Number of Sales Last 12 Months124159Absorption Rate: 16.7Months2016
On-Water Homes $500,001 to $750,000
Number Currently Listed 9174Absorption Rate: 24.8Months2015
Number of Sales Last 12 Months4442Absorption Rate: 21.1Months2016
On-Water Homes $750,001 to $1,000,000
Number Currently Listed 5046Absorption Rate: 60.0Months2015
Number of Sales Last 12 Months1017Absorption Rate: 32.5Months2016
On-Water Homes $1,000,001 and Up
Number Currently Listed 2940Absorption Rate: 29.0Months2015
Number of Sales Last 12 Months124Absorption Rate: 120.0Months2016
Special thank you to Denise Goldsworthy and Bob Merz of RE/MAX Property Pros for supplying this data. 

Keywords: Inventory Absorption Rates Waterfront

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