The first two charts are for Mid City, area 68 in our MLS for all conditions and all property types and the bottom three are for single family homes in the Mid City area. Overall in Mid City and for single family properties you can see a build up of inventory and a decrease in the number of homes sold. The absorption rate has gone from 1.7 in July of 2015 to 6 in September of 2016…a slowing of the market and a shift from being a sellers to a buyers market.
With all of that said certain houses, in certain locations are still selling very quickly. Homes in the $300,000 range are selling very quickly.