Absorption Rates for Bellingham – 3-16-09

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 $527,001 Days on the market 126

Median List Price $399,000 Days on the market 77

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 26 5.1 4 5.1  
200,000-299,999 127 30.5 19 4.1  
300,000-399,999 100 16.7 10 6.0  
400,000-499,999 67 8.7 4 7.7  
500,000-599,999 44 3.1 4 14.2  
600,000-699,999 33 2.3 1 14.3  
700,000-799,999 27 .9 0 30.0  
800,000-899,999 14 .9 0 15.6  
900,000-999,999 10 0.5 0 20  
1,000,000-1,999,999 34 0.8 0 42.5  
2,000,000+ 6 .1 0 60.0  
Totals 488 69.5 42 7.0  

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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