Review the generic sample calculation and/or a customized calculation you prepared for your office market area. Follow the instructions below to update this slide with customized information for your office. Save the Sales Meeting Guide presentation to your C drive. Open the Sales Meeting Guide presentation from your C drive. Scroll down to the “Sample Market Absorption Rate” slide in the weekly training section of the presentation. Double-click on the slide to be able to make edits. Click in each section of the formula to edit text. Save the document to save edits.
Weichert, Princeton Office Offers analysis of the Princeton, NJ Condo & Townhouse Market
<ul><li>2007 v 2009 Market Review </li></ul><ul><li>Current Snapshot of the Condo & Townhouse Market </li></ul><ul><li>Inventory Trends </li></ul><ul><li>Absorption Rate Breakdown & Trends; </li></ul>Agenda
Year to Date Princeton Condo & Townhouse Snapshot, 2009 Towns YTD 2007 YTD 2008 YTD 2009 Settled Units 57 23 22 Average Settled Price $583,912 $513,914 $567,724 Total Settled Volume $33,283,000 $11,306,100 $13,057,650 Average Sold Price/ Original Price 97.7% 97.8% 97.7%
Princeton Borough & Township Market Snapshot, 8/11/09 Towns Active Listings Pending Sales in Last 30 Days Absorption Rate in Months New Listings in 30 Days Net Gain (Loss) to Market Listings Reduced in 30 Days % of Invent. Reduced Expired Listings W/drawn Listings Closed Listings Pton -Boro Condo/ Thouses 12 0 99 0 0 4 33% 0 1 0 Pton Twp: Condo/ Thouses 20 3 6.7 2 -1 4 20% 3 1 2
Princeton Boro. Condo/Townhouses Active Inventory
Sample Market Absorption Rate 107 current active listings 4 reported sales in last 30 days = 24.3 months absorption rate Anytown., NJ 5-6 Months Market Absorption Rate indicates a normal market.
Market Scale for Supply & Demand High Supply/Low Demand Low Supply/High Demand Normal Weichert has been studying market conditions for more than 3 decades and has found a direct correlation between market absorption and property values. As absorption rates increase beyond a normal market level of 5-6 months, property values depreciate annually. Market Absorption in Months 1 2 3 4 5 6 7 8 9 10 11 12 Normal