Absorption Rates for Bellingham – 1-26-09

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 $533,950   Days on the market 140

Median List Price $395,000    Days on the market 115

Price Range

Active Listings

Monthly Absorption Rate

Pending Past week

Months to sell Current Inventory

 

 

 

 

 

 

 

Up to $199,999

26

4.3

6

6.0

 

200,000-299,999

108

32.8

7

3.3

 

300,000-399,999

95

17.4

4

5.5

 

400,000-499,999

65

9.5

1

6.8

 

500,000-599,999

27

3.5

0

7.7

 

600,000-699,999

35

2.6

0

13.5

 

700,000-799,999

16

1.0

0

16.0

 

800,000-899,999

14

0.8

0

17.5  

900,000-999,999

13

0.8

0

16.2

 

1,000,000-1,999,999

33

0.8

1

41.3

 

2,000,000+

5

.1

0

50.0

 

Totals

437

73.8

19

5.9

 

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

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