Absorption Rates for Bellingham – 5-11-09

Absorption rate is average number of homes sold per month over a particular period of time. The months to sell is a reflection of the absorption rate, how long it will take to sell the current inventory at the said absorption rate.

This is a very interesting way to look at the market, as of today:

Average List Price $528,533     Days on the market 117

Median List Price $399,900        Days on the market 70

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week	Months to sell Current Inventory
Up to $199,999	26	6	5	4.3
200,000-299,999	140	28.2	14	5.0
300,000-399,999	97	16.3	7	6.0
400,000-499,999	71	8.1	2	8.8
500,000-599,999	54	3.5	0	15.4
600,000-699,999	38	2.5	0	15.2
700,000-799,999	23	.7	1	32.8
800,000-899,999	17	.8	0	21.3
900,000-999,999	10	0.5	0	20.0
1,000,000-1,999,999	37	0.6	0	61.7
2,000,000+	7	.1	0	70.0
Totals	520	67.1	26	7.7

It still looks like a buyers market under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.