In my continuing efforts to stay ahead, I've relaunched my blog on a new platfrom. The only change will be the new address, http://astoriarealestate.wordpress.com/.

What's an absorption rate you ask? Absorption rates are another way of looking at supply and demand in our market, or how long it will take for the market to "absorb" the inventory. Most Real Estate Professionals will calculate absorption rates in months, however I like to use weeks. To me it's easier to wrap your head around 7 weeks instead of 1.7 months, but either way the number has the same meaning. What do they matter to the consumer? If you were selling your home, and the absorption rate indicated a much higher supply in your area than other parts of the County, then you'll need to make your home stand out even more to capture the few Buyers out there. For Buyers, it becomes less critical unless they're undecided on which area they will purchase a home. The higher the supply, the more inventory and the more likely they'll be able to satisfy all their criteria and likely have an improved bargaining position. I calculated absorption rates for most of Clatsop County, and included residential homes for sale only.

For reference, many experts have said that a 6 month or in this case 24 week supply is a balanced market. I'll also caution you that in a small market such as ours here on the Oregon Coast, taking small snapshots can be misleading at times.

Absorption Rates, in # of weeks.

Astoria: 70.08

Gearhart: 82.25

Warrenton/Hammond: 50.62

Seaside: 326.59

Cannon Beach: 108.70

Clatsop County Overall: 91.87

Courtesy of Clatsop MLS

This nice home features a.......... street.


courtesy of Clatsop MLS

I received this cruise ship schedule for those coming to port in Astoria. While the flood of folks coming off the ship and invading our small town can cause some small inconvenience for us locals, the economic benefits FAR outweigh the minor troubles. While a ship is in port, down town Astoria is buzzing and there's not an empty table at any eatery in town.

There's a house back there some place.

Courtesy of Clatsop MLS.

A quick look at the real estate market here in N. Clatsop County, more specifically Astoria, Oregon. I believe we're looking at the market continuing to improve as we move into spring, likely the rate will be dependant on what rates do.

In the last 30 days, the area of Astoria:

Active- 85

Sold- 4

Under Contract- 10

Back on Market- 4

Expired- 20