Absorption Rates for Bellingham – 3-3-09

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 $531,622  Days on the market 128

Median List Price $399,450    Days on the market 93

Price Range

Active Listings

Monthly Absorption Rate

Pending Past week

Months to sell Current Inventory

 

 

 

 

 

 

 

Up to $199,999

25

5.1

5

4.9

 

200,000-299,999

121

30.5

7

4.0

 

300,000-399,999

99

16.7

3

5.9

 

400,000-499,999

68

8.7

2

7.8

 

500,000-599,999

40

3.1

5

12.9

 

600,000-699,999

31

2.3

0

13.4

 

700,000-799,999

28

.9

0

31.1

 

800,000-899,999

11

.9

0

12.2  

900,000-999,999

11

0.5

0

22

 

1,000,000-1,999,999

36

0.8

0

45

 

2,000,000+

5

.1

0

50.0

 

Totals

476

69.5

22

6.8

 

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

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