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Survey of Market Absorption of Apartments (SOMA)
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Annual 2003 Absorptions
Table 6. Absorption Rates for Condominium Apartments Completed by Asking
Price, Number of Bedrooms, and Geographic Area: 2002
(Privately financed, nonsubsidized apartments in buildings with 5 units or
more. Data regarding number of bedrooms and asking price are collected at the
initial interview, i.e., 3 months following completion. Details may not sum
to totals because of rounding. Medians and percents are computed using
unrounded data)
Percent Percent absorbed in:
of 3 6 9 12
Item Total Total months months months months
Total 36,100 100 74 87 92 95
PRICE CLASS
Less than $125,000 6,800 19 65 95 98 99
$150,000 to $199,999 6,100 17 79 93 97 98
$200,000 to $249,999 3,200 9 78 89 93 96
$250,000 to $299,999 2,800 8 83 91 94 95
$300,000 or more 12,000 33 68 80 87 90
Median asking price $199,400 (X) (X) (X) (X) (X)
BEDROOMS
No bedroom 800 2 45 71 85 92
1 bedroom 4,800 13 65 80 89 92
2 bedrooms 20,200 56 75 87 92 95
3 bedrooms or more 10,300 29 79 90 93 95
REGION
Northeast 3,500 10 72 86 93 96
Midwest 4,900 13 69 85 93 97
South 16,900 47 73 86 91 93
West 10,800 30 78 88 93 95
AREA
Inside metropolitan areas 30,400 84 70 84 91 94
In central cities 17,200 48 61 78 86 90
Not in central cities 13,200 37 82 93 96 98
Outside metropolitan areas 5,700 16 93 99 99 100
X Not applicable.
Go to Annual 2003 Absorptions
Contact Alan Friedman at 301-763-3199 or mail to alan.friedman@census.gov
for further information on the Survey of Market Absorption of Apartments Data.
Source: U.S. Census Bureau, Housing and Household Economic Statistics Division
Last Revised: November 15, 2004
