Absorption Rates for Bellingham – 9-14-09

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 $520,512    Days on the market 118

Median List Price $389,000       Days on the market 77

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 31 7.0 5/40 4.4 129%
200,000-299,999 151 29.0 14/84 5.2 56%
300,000-399,999 106 16.8 3/27 6.3 25%
400,000-499,999 81 7.0 4/13 11.5 16%
500,000-599,999 50 3.8 0/7 13.2 14%
600,000-699,999 36 1.5 2/3 24 8%
700,000-799,999 21 .8 1/2 26.3 10%
800,000-899,999 19 .5 0/1 38 5%
900,000-999,999 8 .5 0/0 16 0%
1,000,000-1,999,999 33 .8 0/2 41.3 6%
2,000,000+ 8 .1 0/1 80 0%
Totals 544 67.9 29/182 8.0 32%

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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