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In the last six months Fairway, in the $500K price and under, has had 37 homes sold/closed as of December 23, 2018. This ratio of homes sold to time is called the absorption rate. The most recent absorption rate averaged over the last six months is 6.1 homes per month. Currently there are six homes for sale in Fariway under $500k. If the most recent absorption rate continues it would take just a month to sell all of the homes for sale, assuming that all homes sell, and that no additional homes came on the market.In general terms a market is considered balanced when the supply of homes equals 5.5 to 6.5 months of inventory compared to demand or absorption rate. The lower the month’s supply of home is, the seller tends to see an advantage in price or terms. The higher the months supply of homes the more advantage there is to the buyer in terms of price or terms.Fairway KS, in the under $500K price range, is in a very strong sellers’s market in terms of supply and recent demand. This is tempered as well by high demand for the this price range in general in Northern Johnson County as well as a diminishing supply of homes as buyer, builders, and investors buy, tear down, and rebuild something larger, naturally in a much higher price range.