Absorption Rates for Bellingham – 7-20-09

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 $520,612 Days on the market 117
Median List Price $399,900 Days on the market 79
Price Range Active Listings Monthly Absorption Rate Pending Past week Months to sell Current Inventory Pending Ratio 
           
Up to $199,999 28 6.1 6/35 4.5  125%
200,000-299,999 138 28.4 9/69 4.9  50%
300,000-399,999 111 15.8 7/37 7.0  30%
400,000-499,999 88 7.8 2/20 11.2  25%
500,000-599,999 58 3.5 2/10 16.5 17.2%
600,000-699,999 33 2.1 1/4 15.7  12.1%
700,000-799,999 23 .7 0/2 32.8 8.7% 
800,000-899,999 17 .8 0/0 21.3  0%
900,000-999,999 13 0.5 0/1 26  7.6%
1,000,000-1,999,999 36 0.6 3/6 60  16.7%
2,000,000+ 5 .1 0/1 50  20%
Totals 550 67.1 30/185 8.2  33.6%
It still looks like a buyers market under $300.000 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