Absorption Rates for Bellingham – 5-11-09

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 $528,533     Days on the market 117

Median List Price $399,900        Days on the market 70

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 26 6 5 4.3  
200,000-299,999 140 28.2 14 5.0  
300,000-399,999 97 16.3 7 6.0  
400,000-499,999 71 8.1 2 8.8  
500,000-599,999 54 3.5 0 15.4  
600,000-699,999 38 2.5 0 15.2  
700,000-799,999 23 .7 1 32.8  
800,000-899,999 17 .8 0 21.3  
900,000-999,999 10 0.5 0 20.0  
1,000,000-1,999,999 37 0.6 0 61.7  
2,000,000+ 7 .1 0 70.0  
Totals 520 67.1 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.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s