Absorption Rates for Bellingham – 6-01-09

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 $536,061     Days on the market 118

Median List Price $409,000        Days on the market 76

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week	Months to sell Current Inventory
Up to $199,999	30	6.1	2	4.9
200,000-299,999	118	28.4	14	4.2
300,000-399,999	83	15.8	11	5.3
400,000-499,999	71	7.8	5	9.1
500,000-599,999	63	3.5	5	18
600,000-699,999	35	2.1	0	16.6
700,000-799,999	20	.7	0	28.5
800,000-899,999	17	.8	1	21
900,000-999,999	10	0.5	0	20
1,000,000-1,999,999	46	0.6	1	76.7
2,000,000+	7	.1	0	70
Totals	525	67.1	38	7.8

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