Absorption Rates for Bellingham – 8-10-09

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 $523,523    Days on the market 113

Median List Price $399,900       Days on the market 73

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 33 6.8 4/33 4.8 100%
200,000-299,999 150 29.0 13/66 5.2 44%
300,000-399,999 112 16.9 5/29 6.6 26%
400,000-499,999 84 6.8 3/18 12.3 21%
500,000-599,999 54 3.3 3/13 16.4 24%
600,000-699,999 40 1.8 0/2 21.6 5%
700,000-799,999 19 .8 0/2 23.8 11%
800,000-899,999 18 .7 1/1 25.7 6%
900,000-999,999 11 0.4 0/2 27.5 18%
1,000,000-1,999,999 36 0.7 0/3 51.4 9%
2,000,000+ 8 .1 0/0 80 0%
Totals 565 67.3 25/172 8.4 31%

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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