U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Survey of Market Absorption
Characteristics 2004: Table 6

        Table 6.  Condominium Apartments Completed and 3-Month Absorption Rate

        by Asking Price, Number of Bedrooms, and Geography: 2004



        (Privately financed, nonsubsidized condominium apartments in buildings

        with five 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

                                                                    absorbed         Median

                                                                     within          asking

		Characteristic                Number   Percent    3 months         price



	         Total                         58,900    100          73           $265,100



		ASKING PRICE



		Less than $125,000             9,300     16          67            (X)

		$125,000 to $149,999           5,600     10          67            (X)

		$150,000 to $199,999           8,700     15          75            (X)

		$200,000 to $249,999           4,600      8          78            (X)

		$250,000 to $299,999           4,000      7          65            (X)

		$300,000 or more              26,700     45          77            (X)



		BEDROOMS



		Fewer than 2 bedrooms          8,000     14          71           $257,100

		2 bedrooms                    34,900     59          72           $208,400

		3 bedrooms or more            16,100     27          77           $350,000+



		REGION

   

		Northeast                      6,900     12          71           $233,400

		Midwest                        8,900     15          62           $139,600

		South                         29,400     50          75           $300,000+

		West                          13,700     23          79           $234,600



		AREA



		Inside metropolitan areas     48,000     81          71           $250,700

		 In central cities            29,500     50          70           $300,000+

		 Not in central cities        18,500     31          72           $182,800

		Outside metropolitan areas    10,900     19          84           $300,000+







		(X) Not applicable.



		Source: U.S. Census Bureau, Survey of Market Absorption 2004

	


Go to Characteristics of Apartments Completed: 2004
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
Last Revised: September 30, 2011