Absorption Rates for Bellingham – 3-30-09

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 $527,251  Days on the market 125

Median List Price $399,000 Days on the market 72

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 28 5.1 2 5.5  
200,000-299,999 131 30.5 7 4.3  
300,000-399,999 102 16.7 8 6.1  
400,000-499,999 69 8.7 1 7.9  
500,000-599,999 45 3.1 0 14.5  
600,000-699,999 34 2.3 0 14.8  
700,000-799,999 25 .9 0 27.7  
800,000-899,999 15 .9 0 16.7  
900,000-999,999 11 0.5 0 22  
1,000,000-1,999,999 36 0.8 0 45.0  
2,000,000+ 6 .1 0 60.0  
Totals 502 69.5 18 7.2  

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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