Absorption Rates for Bellingham – 1-12-09

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 $539,698 Days on the market 144

Median List Price $399,000 Days on the market 119

Price Range

Active Listings

Monthly Absorption Rate

Pending Past week

Months to sell Current Inventory

 

 

 

 

 

 

 

Up to $199,999

25

4.3

5

5.8

 

200,000-299,999

102

32.8

8

3.1

 

300,000-399,999

91

17.4

2

5.2

 

400,000-499,999

56

9.5

2

5.9

 

500,000-599,999

33

3.5

0

9.4

 

600,000-699,999

35

2.6

0

13.5

 

700,000-799,999

16

1.0

0

16.0

 

800,000-899,999

12

0.8

0

15.0  

900,000-999,999

13

0.8

0

16.2

 

1,000,000-1,999,999

32

0.8

1

40.0

 

2,000,000+

5

.1

0

50.0

 

Totals

420

73.8

18

5.7

 

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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