Absorption Rates for Bellingham – 3-23-09

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 $528,329 Days on the market 125

Median List Price $399,900 Days on the market 75

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  
200,000-299,999 126 30.5 10 4.1  
300,000-399,999 101 16.7 7 6.0  
400,000-499,999 69 8.7 0 7.9  
500,000-599,999 43 3.1 2 13.8  
600,000-699,999 37 2.3 0 16.1  
700,000-799,999 25 .9 0 27.7  
800,000-899,999 15 .9 0 16.7  
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 492 69.5 24 7.1  

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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