Brecksville Ohio Real Estate Market Conditions Report - May 2010
By Chris Olsen, Broker Owner Cleveland Ohio Real Estate
(Olsen Ziegler Realty)
May 2010 real estate market statistics report for the Brecksville, Ohio community in Northeast Ohio. Absorption Rates and Months Housing Supply These two terms are one piece of the puzzle to help real estate agents, appraisers, home sellers and buyers alike make sense out of the real estate market. This is a little-known, but effective tool, if used in proper context, to help a home seller or buyer understand the market conditions for the home they wish to sell or buy. The easiest way to define these two terms is with an example: Absorption Rates (AR)- The rate at which homes are selling (ie. absorbed), over a specific time period, typically 12 months. This is beneficial in determining supply and demand trends for the local market. Months Housing Supply (MHS) - How long it will take, i...