With 9 homes on the market at this time we are looking at a 3 1/4 month supply. This measure of inventory is what is referred to as the absorption rate. It means that at the current rate of sales it would take 3 1/4 months to sell all of the inventory. When the absorption rate is between 5-6 months of supply you are experiencing a balanced market. Less than 5 and the scale tips into "Sellers Market" category.
Just west of Duncan and Clayton Rd in Champaign sits Westlake subdivision. A residential development consisting mainly of single-family homes and a scattering of duplex/zero-lot style properties. It's a convenient location in NW Champaign. Easy access to highways and interstates, close to Parkland College, Prairie Gardens and a short drive to the North Prospect shopping,... Continue Reading →