Absorption Rates for Bellingham – 4-13-09

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 $524,378  Days on the market 121

Median List Price $395,000 Days on the market 70

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 28 5.2 2 5.4  
200,000-299,999 130 28.8 9 4.5  
300,000-399,999 99 16.7 8 6.1  
400,000-499,999 57 8.7 4 6.6  
500,000-599,999 47 3.4 0 13.8  
600,000-699,999 33 2.5 0 13.2  
700,000-799,999 24 .7 1 34.2  
800,000-899,999 16 .9 1 17.8  
900,000-999,999 11 0.4 0 27.5  
1,000,000-1,999,999 35 0.7 0 50.0  
2,000,000+ 5 .1 0 50.0  
Totals 485 67.7 27 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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