Niagara County Absorption Rates for August 2008

How is Absorption Rate Calculated?

Knowing Western New York’s Absorption Rate, helps to track trends in the WNY Real Estate Market. Absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a trend. To calculate Absorption rate in WNY you will need:

 

How many listings are currently on the market in a given area? In this instance listings are both active and pending homes.

1. How many listings sold last month?

Now that you know those numbers, you will need to:

• Add together the number of Active/Pending Listings = 1,000
• # of Sold Last Month 100 x 12 divided by 52 = 23.08
• # Sold of Active divided by the number of sold 1,000/23.08 = 43.33 weeks
• Absorption Rate = 10.08 months

 

While absorption rate may just be a guide, it is another valuable tool for buyers and sellers to better understand the real estate market and assist them to make informed decisions about Real Estate.

 

Niagara County Absorption Rates:

 

 

Lewiston – 31.40 weeks

Youngstown – 100 weeks

Cambria – 86.95 weeks

Wheatfield – 22.37 Weeks

Pendelton – 43.48 weeks

North Tonawanda – 14.04 weeks

Hartland – 28.99 weeks

Town of Niagara – 126.09 weeks

DeVeaux Section of Niagara Falls – 21.73 weeks

All of Niagara Falls – 26.34 weeks

Lockport – 25 weeks