Absorption Rates for Bellingham – 11-9-09

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 $503,403    Days on the market 120

Median List Price $379,450       Days on the market 87

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 31 8.0 3/34 3.9 110%
200,000-299,999 137 30.3 10/74 4.5 54%
300,000-399,999 88 16.3 3/27 5.4 31%
400,000-499,999 65 6.7 2/11 9.7 17%
500,000-599,999 42 4.1 0/6 10.2 13%
600,000-699,999 33 1.7 0/5 19.4 17%
700,000-799,999 22 .8 0/3 27.5 13%
800,000-899,999 12 .6 0/2 20 13%
900,000-999,999 5 .4 0/0 12.5 0%
1,000,000-1,999,999 27 .8 1/3 33.8 11%
2,000,000+ 6 .1 0/0 60 0%
Totals 468 69.7 19/160 6.7 34%

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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