Absorption Rates for Bellingham – 6-15-09

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 $534,203     Days on the market 116

Median List Price $400,000      Days on the market 74

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week	Months to sell Current Inventory
Up to $199,999	32	6.1	5	5.2
200,000-299,999	126	28.4	7	4.5
300,000-399,999	101	15.8	5	6.4
400,000-499,999	82	7.8	3	10.5
500,000-599,999	59	3.5	2	16.9
600,000-699,999	29	2.1	3	13.8
700,000-799,999	23	.7	0	32.8
800,000-899,999	16	.8	0	20
900,000-999,999	12	0.5	0	24
1,000,000-1,999,999	39	0.6		65
2,000,000+	6	.1	0	60
Totals	527	67.1	26	7.9

It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.