Absorption Rates for Bellingham – 6-15-09

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 $534,203     Days on the market 116

Median List Price $400,000      Days on the market 74

Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory  
           
Up to $199,999 32 6.1 5 5.2  
200,000-299,999 126 28.4 7 4.5  
300,000-399,999 101 15.8 5 6.4  
400,000-499,999 82 7.8 3 10.5  
500,000-599,999 59 3.5 2 16.9  
600,000-699,999 29 2.1 3 13.8  
700,000-799,999 23 .7 0 32.8  
800,000-899,999 16 .8 0 20  
900,000-999,999 12 0.5 0 24  
1,000,000-1,999,999 39 0.6   65  
2,000,000+ 6 .1 0 60  
Totals 527 67.1 26 7.9  

It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.

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