Looking at the real estate market activity since June 1st, for Monona, Wisconsin.
What is the holding inventory or absorption rate in Monona right now? How long would it take to sell a home?
How we calculate the data:
- How many homes are selling in a month?
- Based on the current active inventory, how long would it take to sell?
So the average home sales in Monona is 6 a month.
- 18 total sales since June 1st.
There are 55 current active listings for sale in Monona. If we said no more listings are allowed to come on the market, with an average of 6 selling a month, it would take 9.16 months to absorb the existing inventory.
This means Monona is a transitional/equal market and probably one of the more balanced real estate markets in Dane County right now. We had mentioned in the Monona Trending Report Blog that the Monona real estate market looked fairly healthy. The one thing that might scares us a bit though is the 1 pending, or homes that have an accepted offer to purchase (a future sale). But honestly, that could just be Realtors not turning their paperwork in on time.
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Filed under: Dane County Real Estate, Market stats, Monona Real Estate, real estate, real estate trends
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