Absorption Rates for Bellingham – 2-3-09

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 $539,748   Days on the market 138

Median List Price $399,000    Days on the market 114

Price Range

Active Listings

Monthly Absorption Rate

Pending Past week

Months to sell Current Inventory

 

 

 

 

 

 

 

Up to $199,999

26

4.3

5

6.0

 

200,000-299,999

103

32.8

13

3.1

 

300,000-399,999

96

17.4

3

5.5

 

400,000-499,999

64

9.5

2

6.7

 

500,000-599,999

33

3.5

0

9.4

 

600,000-699,999

35

2.6

0

13.5

 

700,000-799,999

17

1.0

0

17.0

 

800,000-899,999

12

0.8

0

15.0  

900,000-999,999

12

0.8

1

15.0

 

1,000,000-1,999,999

33

0.8

0

41.3

 

2,000,000+

6

.1

0

60.0

 

Totals

438

73.8

23

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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