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Survey of Market Absorption of Apartments (SOMA)



Annual 2005 Absorptions:

Table 6. Absorption Rates for Condominium Apartments Completed by Asking
              Price, Number of Bedrooms, and Geographic Area: 2004

(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                   60,800        100          72          85          92          96

PRICE CLASS

Less than $125,000          9,200         15          67          85          90          95
$125,000 to $149,999        5,500          9          67          77          95          97
$150,000 to $199,999        8,700         14          75          91          95          96
$200,000 to $249,999        5,100          8          78          87          91          94
$250,000 to $299,999        4,600          8          69          85          93          96
$300,000 or more           27,700         46          74          84          91          96
Median asking price      $270,400         (X)         (X)         (X)         (X)         (X)

BEDROOMS

No bedroom                    500          1          73          90          97          98
1 bedroom                   8,100         13          68          82          89          95
2 bedrooms                 35,800         59          71          85          93          96
3 bedrooms or more         16,400         27          77          87          92          96

REGION

Northeast                   6,900         11          71          83          98          99
Midwest                     9,000         15          62          81          89          92
South                      30,200         50          75          86          93          96
West                       14,700         24          76          86          91          96

AREA

Inside metropolitan areas  49,700         82          70          83          92          96
 In central cities         31,100         51          69          82          92          95
 Not in central cities     18,600         31          71          85          92          96
Outside metropolitan areas 11,100         18          84          92          94          97

X Not applicable.

SOURCE:  U.S. Census Bureau, Survey of Market Absorption

Go to Annual 2005 Absorptions:
Contact George Boyd at 301-763-3199 or mail to george.t.boyd@census.gov for further information on the Survey of Market Absorption of Apartments Data.

Source: U.S. Census Bureau, Social, Economic, and Housing Statistics Division