Absorption Rates for Bellingham – 2-10-09

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 $539,727   Days on the market 137

Median List Price $399,900    Days on the market 113

Price Range

Active Listings

Monthly Absorption Rate

Pending Past week

Months to sell Current Inventory

 

 

 

 

 

 

 

Up to $199,999

25

4.9

4

5.1

 

200,000-299,999

105

31.3

6

3.4

 

300,000-399,999

97

17.4

3

5.5

 

400,000-499,999

66

9.3

1

7.1

 

500,000-599,999

33

3.2

1

10.3

 

600,000-699,999

34

2.4

0

14.1

 

700,000-799,999

20

.9

1

22.2

 

800,000-899,999

13

.9

0

14.4  

900,000-999,999

10

0.8

1

12.5

 

1,000,000-1,999,999

34

0.8

1

42.5

 

2,000,000+

6

.1

0

60.0

 

Totals

443

72

21

6.2

 

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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