Knowing how much inventory is on the market is an important statistic to know when considering the price of your home. These figures are for residential home sales.

The absorption rate is how fast homes are selling on a monthly basis. Inventory is how long it would take homes to sell at that rate assuming that nothing new came on the market.

Salem:
90 day absorption rate: 169
30 day absorption rate: 178
Inventory: 9.8 months

Salem’s inventory has been holding steady around the 9-10 month mark for several months. Still well within a buyer’s market, but inventories aren’t increasing.

Keizer:
90 day absorption rate: 26.3
30 day absorption rate: 24
Inventory: 11.1 months

Inventory has dropped slightly for Keizer.

Silverton:
90 day absorption rate: 8.6
30 day absorption rate: 9
Inventory: 14.4 months

Silverton’s inventory was at a high of 24 months toward the beginning of this year, and has been declining nicely. Sales have increased slightly offset with sellers taking their homes off the market is helping to stabilize this market. Still has a ways to go, but on the right track.

Stayton:
90 day absorption rate: 4.3
30 day absorption rate: 4
Inventory: 15.5 months

Remaining on the high side, Stayton is slower to recover than some of the other metro towns.

Aumsville:
90 day absorption rate: 5
30 day absorption rate: 4
Inventory: 7.5 months

Aumsville inventories are remaining steady around 7 months which puts it just over a neutral market.

Turner:
90 day absorption rate: 3.3
30 day absorption rate: 3
Inventory: 7.6 months

Turner had a mild jump in inventory as homeowners put homes on the market for the selling season.

Jefferson:
90 day absorption rate: 3.3
30 day absorption rate: 2
Inventory: 16 months

This is a huge bump up in inventory which was only at 5 months for the last report.

Independence:
90 day absorption rate: 6
30 day absorption rate: 7
Inventory: 8.9 months

Independence has seen a nice drop into the single digits.

Monmouth:
90 day absorption rate: 5.7
30 day absorption rate: 11
Inventory: 5.1 months

Monmouth had a nice drop into a neutral market. With it’s reasonable prices and proximity to Salem, this market is currently in a normal market.

Dallas:
90 day absorption rate: 13.3
30 day absorption rate: 10
Inventory: 16.8 months

Dallas inventories jumped up. Several new homes were placed on the market which probably caused this jump this month.

For June’s inventory reports…

(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)

Related posts:

  1. Salem Metro Area Home Inventories
  2. Absorption Rates and Inventories for the Salem Oregon Metro Area June 2008
  3. Absorption Rates and Inventories on Home Prices in Salem Oregon
  4. Coffee and Stats: July 2008 Salem Region Market Conditions
  5. Coffee and Stats: July 2008 Real Estate Market Update for Salem Oreon