Absorption Rates for Bellingham – 12-8-08

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 $529,893 Days on the market 126

Median List Price $399,000 Days on the market 110

Price Range

Active Listings

Monthly Absorption Rate

Pending Past week

Months to sell Current Inventory

 

 

 

 

 

 

 

Up to $199,999

22

4.0

3

5.5

 

200,000-299,999

128

33.8

6

3.8

 

300,000-399,999

104

18.5

3

5.6

 

400,000-499,999

71

10.1

2

7.0

 

500,000-599,999

40

3.8

0

10.5

 

600,000-699,999

42

2.9

0

14.5

 

700,000-799,999

21

1.3

0

16.1

 

800,000-899,999

16

1.1

0

14.5  

900,000-999,999

15

.9

0

16.7

 

1,000,000-1,999,999

32

.8

0

40.0

 

2,000,000+

5

.1

0

50.0

 

Totals

496

77.4

14

6.4

 

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

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