Shorewood

Absorption rates  tell you two big things: the type of market you’re in and about how long you might expect your home to need on the market to sell (If you don’t have an agent pricing and marketing you right to stay ahead of the curve …..but sometimes even if you do!) Many will tell you that the absorption rates in a normal market are 5-6 months, less time for a seller’s market and more time for a buyer’s market (like we’re in now.) The higher the months of absorption…..the more power a buyer is holding.

You can use absorption rates for big groups or little. Say, ALL homes  in Lockport [lots of results] OR 2 bedroom homes in Wilmington [not many results]. In any circumstance it gives you an idea of the market for the type of property you’re looking into.

Below you will see a chart of the number of homes sold in the past 12 months in various towns and how many per month that is. You will also see the current inventory and then the absorption rate. In this graph, blue stands for ice cold. Red, though the BEST of these groups, would be a stretch to identify as anything resembling hot. Even lukewarm might make me a liar. But you get the gist.

How fast do homes sell 'round here?

In case you don't want to sell quickly, please digest with ease.

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It’s election season and the Village of Shorewood is seeking to lower the village’s portion of their property taxes by 25% by approving a 1% sales tax increase.

HERE is a FAQ on Non-Home Rule Sales Tax Referendums.

What do you think about this?

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