Absorption Rates for Bellingham – 7-27-09

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.

The Pending Ratio is  the number of homes currently under contract compared to the number of homes available for sale .

This is a very interesting way to look at the market, as of today:

Average List Price $523,910    Days on the market 115

Median List Price $399,900       Days on the market 76

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 28 6.3 5/36 4.4 129%
200,000-299,999 140 29.5 14/71 4.7 50%
300,000-399,999 111 16.9 8/38 6.5 34%
400,000-499,999 91 7.1 2/19 12.8 21%
500,000-599,999 53 3.6 5/13 14.7 25%
600,000-699,999 36 1.6 0/4 22.5 11%
700,000-799,999 24 .8 1/3 30 13%
800,000-899,999 18 .7 0/0 25.7 0%
900,000-999,999 12 0.4 1/2 30 17%
1,000,000-1,999,999 34 0.5 1/5 68 15%
2,000,000+ 7 .1 1/1 70 14%
Totals 554 67.5 38/172 8.2 31.9%

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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