Here’s a Quick Way to Calculate the Real Estate Absorption Rate…
Absorption rate is a measure of how many ‘months worth of homes’ are currently on the market. This is calculated by establishing how many purchases were made in the past 6 months within a given set of parameters. Next, we find how many homes are currently on the market with the same set of parameters. By dividing the number of current listings by the number of Buyers per month, we arrive at the absorption rate. Dakota County has the second lowest rate, 6.9 months. Absorption rates are like Golf Scores, the lower the better, if you are a home seller!
If we could stop any more listings from coming onto the market in that specific set of parameters, it would take 6.9 months to sell the listings in Dakota County, given the current rate of purchases made by Buyers.
I find it interesting how the absorption rate can vary, based on different sets of criteria. For example, today in Lakeville, using the criteria of all Two Story Style Homes in Lakeville MN, the absorption rate is 6.6 months. However, when the criteria is changed to be two Story Style Homes in Lakeville, MN with 3500+ finished square feet, the absorption rate is just 4.83.
This isn’t so surprising because it reflects the idea that buyers are purchasing the best values on the market and square footage is one measure of a home’s value.
The National Association defines a balanced market as 5 months worth of inventory! Higher than 5 months indicates a buyer’s market and lower than 5 months indicates a Seller’s market.
Using this absorption rate, and how it varies with changed in criteria, really helps illustrate where Buyers are Buying. Data showing which style of homes, neighborhood, or ages of homes buyers seem to prefer is priceless information for Sellers competing in this marketplace. We can calculate the current absorption rate for your home, just send an email with your Home’s City, Style, Year Built and Square Footage and we will run some absorption rate comparisons for you! We are always happy to help.
Anoka County…………..7.2 months
Carver County………….8.6 months
Dakota County………….6.9 months
Hennepin County………5.1 months
Ramsey County…………8.2 months
Scott County…………….7.9 months
Washington County……8.6 month
Comments are closed
Your Real Estate Expert
Read Our Reviews
It was so nice to work with good people like the Petrashek family. From our first contact, their understanding, patience and promptness in answering our many questions was so appreciated. This was our first experience in selling a home and the Petrashek's made it a very satisfying experience. We will recommend them to all our Minnesota friends.
Sheryl was such a pleasure to work with while selling our house and buying a new home. It is clear that she loves what she does and she is very knowledgeable about the market. She gave us some tips about putting our house on the market early in the spring to get a jump start and she was completely right - our house sold in just one day! She made what could have been a completely stressful experience smooth and enjoyable. She was always quick to respond to any questions and always made us feel like we were her most important clients. We highly recommend Sheryl!
Sheryl was such a joy to work with when selling our first home! She made the process very smooth and my husband and I knew we could trust her with every detail. She was upfront and honest so we had very real expectations when listing our home. She exceeds the competitors in marketing and knowledge of the market. We always knew Sheryl was on our side and in every situation she represented us with integrity and professionalism. We would refer all of our family and friends to her and we will definitely be customers of hers again. We had an offer on our home in 3 days and sold our home more quickly than we imagined! Sheryl and her team are wonderful!
Sheryl leveraged her strong knowledge of the real estate marketplace and her negotiation skills to obtain a lucrative price for the home we recently sold and assist us in the purchase of our new home. She took care to ensure that all aspects of the sale and purchase processes kept progressing on a timely basis and handled obstacles skillfully to support our best interest. I would highly recommend Sheryl’s services to anyone and everyone in need of a professional who gets the job done!
Sheryl is a very caring agent.She will do everything she can to help you. She also found us a home. She is the best you can find. Thanks for everything. By the way Bo is great too.
Sheryl - You represent the essence of what we feel a realtor should be. Your commitment to the sale of our home was always present as we felt completely assured that everything was under control. Your knowledge in the market and explanations to our questions were always communicated in a prompt response weather it was directly from you or one of your assistants in your office. Thank you for making us feel as though we were your only client even though we were aware of how perpetually busy you were. We have and will continue to recommend you to everyone we know!! Blessings!
I recently sold my home and used Sheryl and her team as my realtor. Before the transaction was even complete I was already recommending her to my family and friends. She has such a broad understanding of the market and has a passion for what she does. I really appreciated the one on one time she spent with me to explain the market conditions, my home’s value and all of the options available to me. Sheryl is my realtor for life!
After accepting a promotional opportunity in another state, I had no choice but to put my house on the market during the late fall which was by no means ideal. With very few people looking to buy during that time, you can imagine my angst. Sheryl however kept us very informed along the way telling not to panic and gave me great advice on when I should slightly drop the price a bit or when to hold tight. During the winter months when I was no longer in my home, she also made sure to physically check out my house each week to be sure the furnace was still working and no pipes issues. Another huge weight off my shoulders. She also knows her stuff in regards to marketing. She literally spent one afternoon helping me arrange my furniture to make sure my house photographed well for the online photos. She also uses a professional photographer, so the pictures were great!
We did a google search of realtors in our area and that's how we met Sheryl. We knew after our first phone call to her that we wanted her to be our realtor. Sheryl is incredibly patient and good at explaining what to expect in the home selling/buying process. When looking at homes, she took the time to educate us on the pros and cons of each home. She knew what we wanted when we often didn't know what we wanted ourselves. We also had the pleasure of meeting her husband Bo who was equally a joy to meet. We wanted to see a home on short notice and Bo stepped in for Sheryl. Her whole team is wonderful and they were always there to answer our questions. We really enjoyed looking at homes with Sheryl and will miss doing that now that she found us our home. We will definitely suggest her to anyone we know looking to buy/sell a home.
I am beyond delighted with the services I received from Sheryl, and her team! Sheryl’s marketing strategies for the sale of my townhome were incredibly well thought and professional, and as a result, my townhome sold very quickly. In a competitive market, Sheryl ensured that I was able to see new homes as soon as possible during my search for a new home. Sheryl, and her team, remained in constant contact, and they were always there to answer any questions that I had, or schedule a showing at the drop of a hat. The selling, and buying, processes were beyond smooth and I couldn’t be more grateful for the services I received. Sheryl’s years of experience, marketing strategies, and communication made the selling, and buying, processes painless and easy. I would highly recommend Sheryl’s services for your selling and buying needs. Thanks for everything to Sheryl, and team!
Sheryl and Bo are a great team and put together an outstanding marketing plan for our home. The result was seven showings and multiple offers in three days on the market and a sale for more than our asking price. The follow through on the details has been outstanding. We would highly recommend them to anyone looking for a great agent.
Sheryl has been great throughout the entire process of finding and negotiating the purchase of our new home. We feel as though we have always been her top priority. Her responsiveness to our questions and concerns and her dedication to our project has been outstanding. Her knowledge of the local area and the constructions methods and terminology is impressive beyond compare. She has made the entire experience very pleasant and painless. We will highly recommend her to anyone planning to buy a home.
Sheryl was referred to us for our unique home buying experience. Her understanding our of needs ensured that our initial property purchase would ultimately allow us to fulfill on our home building goals. Sheryl market knowledge with property visits were always spot on and informative. She always had her information prepared and outlined to provide the best options a property had to offer. Sheryl's candor navigating those options was very much appreciated, as she always kept our long term goals in site. Sheryl is an "all-in" agent. She will ensure that your expectations - start to finish - will be met, and that your home buying experience will be a pleasant one!
Sheryl is absolutely wonderful! In this economy I thought selling our home would be next to impossible but Sheryl made it so easy! Sheryl will go that extra mile for you. She is extremely knowledgeable and offered great advice and recommendations to get our home ready for showings. She is not only very professional but very likeable and friendly. I highly recommend Sheryl and look forward to working with her to buy my next home!
We went thru much effort to find a realtor that provided a real value added to the process. The recommendation from Greg Bjorkland led to us interviewing you. We were very impressed by the type and degree of analysis done to determine the market for our home; for the multiple channels to the marketplace that you used; your team approach that covered all the time sensitive bases needed to get us to closing; and probably most of all; your really profound ability and insight in analyzing and handling sensitive issues and negotiations. Barb & I found ourselves saying about 6 different times throughout this experience how incredibly grateful we were that we had Sheryl on the job. And I don't hesitate to say that I've never said that about any realtor before. Thank you again!
Working with Sheryl & Bo Petrashek along with her team in the selling of our townhome in Burnsville and our home purchase in Apple Valley far exceeded our expectations on many levels. From our first meeting she put us at ease answering all of our questions. As I'm sure she would tell ya there were many. Also being easily accessible and just over all great having her in our corner working for us. To be honest now that we close this Thursday, the only downfall is that we will actually miss her. If the need ever arises where you're in the market to buy or sell I would highly recommend Sheryl and her team. I know she will always be my go to should we need an agent.
I first met Sheryl in 2006 when we sold our first home. She impressed me immediately. She’s knowledgeable, experienced and savvy in real estate. Sheryl calmly explains the process because it can be overwhelming and stressful, at least for me. Her “customer service level” is understanding as she returns calls or emails in a timely manner or her “team” does. My husband and I would give Sheryl Petrashek and 5 star A+ rating and would recommend her without hesitation. I have given my entire family her name for their future real estate needs! THANK YOU SHERYL FOR EVERYTHING!
Hard worker doesn't even begin to describe Sheryl's drive to go above and beyond the call of duty. She is extremely knowledgeable and without a doubt has her client's best interest in mind. Would choose her again and again and would highly recommend!!
Sheryl and her team are fantastic. They were there every step of the way for us. We sold our house in 4 days for the asking price. We would recommend Sheryl to anyone.
Sheryl is in the process of helping us to prepare and understand the current market. Her knowledge of the real estate trends and in depth analysis allows us to maximize the sale of our home. Along with her being patient, helpful, enthusiastic and the most understanding person to work with! We look forward on working with her!!
I am so glad I got to work with Sheryl and Remax Results. Sheryl was open, totally flexible to my schedule, and very good at keeping me updated and informed about homes available. After helping me finally find the perfect place the entire team did a great job of guiding me through the process and preparing me for an easy and successful closing. Honestly, I don’t think finding and buying a home has ever been easier. Thanks
Sheryl was very knowledgeable and took the time to listen to our needs with the sale of our home. She kept us informed of the current market and future trends that may have an impact on our sale. she took a lot of pressure off by keeping us always informed as we were not present for most of the process. I highly recommend Sheryl to anyone selling or purchasing of a home. If you listen to Sheryl's advice on staging your home and the current market you will have a very good chance of selling your home.
This is a second time that I worked with Sheryl in purchasing my home and all I can say that both times I felt like I was her only client. I had specific need for a particular floor plan and she was amazing at finding exactly want I needed/wanted. She puts time and effort to make her clients fully satisfied. She is extremely knowledgable and gives great advice.
I can't say enough about Sheryl and her services. I'm completely impressed and satisfied with the handling of the sale of my home. Sheryl's honesty and integrity shines through from the beginning to the end of the process of selling my home. She did a fantastic job marketing my home and delivered exactly what I wanted/needed to sell my condo. Sheryl and her office made selling flawless and very easy.
Sheryl is very knowledgable . Keeps up with market trends and advises you accordingly. Easy to work with. Does a great job working with you to get your house ready to place on market. Answers phone calls promptly and calls you on the progress of the sale.
Wonderful experience and a great realtor with no pressure sales! Always willing to make things happen!
Sheryl worked with my husband and me to sell our house at a difficult location. Sheryl tried many approaches and we successfully sold our house. I really feel it was because of Sheryl's thorough and consistant effort with showings, open houses, and marketing that made the difference. Sheryl is a great agent and partner in this process. She also helped us find our next home!
We had our townhouse on the market for over 7 months with another realtor and had no offers. Sheryl was recommended to us by a friend, so we decided to switch and give her a try. Within two weeks of working with Sheryl, we had an offer and sold our townhouse. She also found us a wonderful new home to purchase. Sheryl and her team made the whole process seamless and effort free. If you want great results, Sheryl is the realtor for you. Thank you!
Sheryl was very knowledgeable. She was always quick with answers to questions and right on top of the whole process. I would recommend Sheryl to anyone needing a real estate agent.
Working with Sheryl has been great. She's extremely knowledgeable about all aspects of the buying and selling process and is able to give expert advise. She and her staff are very organized and do a wonderful job of keeping us informed of all the moving parts. We appreciate the work of Sheryl and all the others who have helped us with this process.
Brian and I chose to work with Sheryl because of the wonderful experience we had with her when we purchased our current home. Sheryl guided us through every aspect of selling our current home and buying our new home. She gave us advice on staging our home and responded to our questions quickly. Overall, we had a wonderful experience working with Sheryl.
Sheryl was very instrumental in both the purchase of our new home and sale of our old home at the price(s) we wanted. She is very knowledgeable about properties and their values. Whenever I needed to talk to her she would always respond. Not only is she a great Realtor but a better person you won't find. You won't regret having Sheryl as your listing agent. She gets thing done.
Amazing Agent that worked very hard to get me the condo I wanted at a great price :) Would definitely recommend Sheryl Petrashek and her team!
We are very happy that we could meet high experienced professional when we started searching of our new / first home. We are property virgins and when we met Sheryl we had a lot of questions and worries. Sheryl could provide us the best support and help. She was keeping under strong control every step of our deal. She gave us all necessary information and documents in time and without delay. We received a real support from Sheryl when we had to arrange an international money transfer and we can say that this step of our deal has been done in accordance with all regulations and without problems. We want to tell Sheryl thank you so much because we’ve got a high quality service from her personally and from her team. We had a strong feeling that we were a VIP customer when we were working with Sheryl.
Sheryl Petrashek listed two condo properties for us. We found Sheryl to be a professional who used her strong marketing, communication, and reporting skills to sell our properties. However, what really separated Sheryl from the rest was her willingness to do whatever task was necessary to make the deal happen. She truly exhibits a “can do” attitude, and she takes the “full service realtor” concept to an entirely new level.
Sheryl Petrashek is a fantastic realtor! I have bought and sold several homes thru Sheryl for quite a few years and know that she does an exceptional job and goes above and beyond what any realtor would do. I recently once again listed my home thru Sheryl and as I knew from before she would be there and help thru every step of the process. Sheryl is not only a great listener and will help you find exactly the home you are looking for she also understands the market and knows how to navigate every part of buying and selling a home. Sheryl and her great office staff makes buying and selling a home seem flawless and very easy.
I would highly recommend Sheryl. She originally helped us find our first home back in 2012. We thought she was so terrific that we decided to use her again to sell our current home and find us our next home. She goes way above and beyond what any other realtor would do. She always responded back immediately to any questions we had, filled us in on everything and made sure we understood the next steps. She showed us many homes and never made us feel like we were inconviencing her. You can tell she truly loves her job and she is great at it! She helped us find our dream home yet again. Will definitely work with her again if we need to move.
We worked with Sheryl this summer to sell our house. She was wonderful and easy to work with through the whole process. We relocated out of state and had a quick closing date and Sheryl did a great job of managing the home sale despite the tight schedule and us being out of state. We never felt uncomfortable with how the home sale was going. She in particular went above and beyond to help us meet all the negotiation items (radon system, plumbing improvements, etc..) before a very short closing date. We highly recommend Sheryl.
We had a lot of real estate agents to choose from and we are so happy we decided to work with Sheryl and Bo. We were starting to feel a little hopeless that we would find the perfect house for us within our budget, but Sheryl and Bo were determined to find the right house for us and they did! There was an issue with the appraisal coming in low, so Sheryl did her research and wrote an excellent rebuttal to the appraiser and she was able to get the the appraisal increased so there weren't any issues with financing. Their communication was top notch - our calls, texts, and emails were always returned very quickly. We would highly recommend working with Sheryl and Bo!
Sheryl and Laura were awesome to work with in selling my home. They were ultra-communicative from the word go and provided some excellent tips in staging my townhouse for sale. Their market assessment was honest and well-thought out and the online presence they provided helped get the house sold right away. Thanks so much Sheryl!!!!
Sheryl asked me if I would write one or two sentences to recommend her...well it might be a paragraph. Sheryl is the best realtor ever! I bought a foreclosed townhouse which I love. But during the process the title company on the seller's side had major delays finding my title. Sheryl was so excellent, very experienced and always took the time to explain the technicalities to me, she was persistent in getting me my title, very nice and patient, incredibly intelligent and I had complete trust in her. And it paid off, a huge THANK YOU to Sheryl! I now am living in my dream house!
Sheryl has been able and willing to think far outside of the box for solutions and willing to do whatever is necessary to make the process seamless and profitable for me. As a partner of mine put it after Sheryl went above and beyond her role for the umpteenth time “now THAT is a full-service agent!!
Sheryl was a great realtor to work with. She is incredibly knowledgeable about the market and worked with us to promote and sell our home. She is easy to work with and also has a great team working with her. We highly recommend Sheryl to anyone looking to sell their home or her assistance in buying a new home. She definitely takes great care of her clients.
Sheryl Petrashek is awesome to work with. Her knowledge of the market and expertise is top notch. She is meticulous, she knows what the buyers are looking for, and she has an awesome team of professionals who work hard to get your house ready for sale. She is a natural in her field. When we first listed our south metro house and began the process of the looking for a house to buy in Minneapolis, we originally were going to find an different agent who might know the city better. After working with Sheryl for the short time, we had no doubt we wanted her to represent us on the buying side. Her knowledge of older homes from style to how sound the construction is (or the quality of the remodel) is very valuable to us. We are so glad we have her representing us.
Sheryl is an awesome realtor to work with. After having bad experience with another agent we were skeptical to trust any, but she made us feel so comfortable and relaxed and we were forced to trust her and her judgments. Best quality about here is she is very proactive, in her absence assistant AMY does great job of keeping us up to date !!! Overall I will rate her 8 on 5 :-)
Sheryl has an amazing personality. She is always so happy and friendly. We really enjoyed working with her. When we went to meet her the first time we had no clue about the type of a house we wanted. We just said we want to buy a house. Then she explained to us that there are different styles of houses. She also showed us a map that covered all the areas we were interested in and the price range we liked. The first time we went to see houses she included different styles of houses so she could get an idea of what we liked. That visit taught us so much about houses. Then once we found what type of house we liked she found many more houses like that in so many areas. Thank you so much for finding us our dream home!
Sheryl was an amazing realtor for both the sale of our old house and the purchase of our new house. Sheryl and her team were great with taking care of all the details and the representing us with any issues that came up. Sheryl went above and beyond what I believe any other realtor would have done for us, and for that I would highly recommend her to anyone looking to sell or purchase a home. With Sheryl's knowledge and experience she puts the client first, which sets her apart from other real estate agents we had dealt with for our previous two homes. Thank you for your representation, without you I don't think our home purchase would have gone as good as it did!
Sheryl was fantastic! She helped us find a home that fit us perfectly! She was wonderful to work with and her passion for helping people find their home shines through! She made our move to the twin cities area very easy and comfortable!
We really enjoyed working with you. Thanks for always being so fun and flexible! You are a great realtor, you made the process fun and easy. Thanks a lot Sheryl!
Sheryl is very knowledgeable about real estate in general and really excels at getting your individual house sold. She was great at identifying exactly the type of buyer that would be looking at our house. From there she told us what updates to make – which ones would really be worth our time and money. She also had recommendations on who could do those updates. Sheryl is an exceptional realtor to work with, you will not be disappointed!