Absorption Rates for Bellingham – 4-27-09

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 $515,014  Days on the market 118

Median List Price $390,000 Days on the market 70

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 29 5.2 5 5.6  
200,000-299,999 141 28.8 14 4.9  
300,000-399,999 98 16.7 7 5.9  
400,000-499,999 67 8.7 2 7.7  
500,000-599,999 49 3.4 0 14.4  
600,000-699,999 40 2.5 0 14.8  
700,000-799,999 20 .7 1 28.5  
800,000-899,999 17 .9 0 18.8  
900,000-999,999 10 0.4 0 25.0  
1,000,000-1,999,999 37 0.7 0 52.9  
2,000,000+ 5 .1 0 50.0  
Totals 519 67.7 26 7.7  

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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