Absorption Rates for Bellingham – 6-29-09

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.

The Pending Ratio is  the number of homes currently under contract compared to the number of homes available for sale .

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

Average List Price $523,713 Days on the market 116

Median List Price $399,950  Days on the market 73

Price Range	Active Listings	Monthly Absorption Rate	Pending Past week/Total	Months to sell Current Inventory	Pending Ratio
Up to $199,999	33	6.1	4/34	5.4	103%
200,000-299,999	134	28.4	10/71	4.7	53%
300,000-399,999	105	15.8	6/32	6.6	30.5%
400,000-499,999	88	7.8	5/20	11.2	23%
500,000-599,999	57	3.5	3/11	16.3	19%
600,000-699,999	32	2.1	3/6	15.2	19%
700,000-799,999	20	.7	0/2	28.6	10%
800,000-899,999	17	.8	1/2	21.3	12%
900,000-999,999	14	0.5	0/0	28	0%
1,000,000-1,999,999	36	0.6	1/4	60	10%
2,000,000+	6	.1	0/1	60	20%
Totals	543	67.1	33/184	8.1	33.9%

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