Absorption Rates for Bellingham – 5-28-09

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 $537,096     Days on the market 115

Median List Price $409,000        Days on the market 73

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 26 6 2 4.3  
200,000-299,999 136 28.2 13 4.8  
300,000-399,999 96 16.3 6 5.9  
400,000-499,999 78 8.1 3 9.6  
500,000-599,999 63 3.5 3 18  
600,000-699,999 35 2.5 1 14  
700,000-799,999 21 .7 0 30  
800,000-899,999 16 .8 1 20  
900,000-999,999 9 0.5 0 18  
1,000,000-1,999,999 41 0.6 0 68.3  
2,000,000+ 7 .1 0 70.0  
Totals 527 67.1 29 7.9  

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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