Absorption Rates for Bellingham – 1-11-09

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 $470,556     Days on the market 135

Median List Price $378,500      Days on the market 97

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 30 9.1 2/24 3.3 80%
200,000-299,999 106 32.0 7/50 3.3 47%
300,000-399,999 95 17.9 2/8 5.3 8.4%
400,000-499,999 57 7.3 1/7 7.8 13.2%
500,000-599,999 40 4.1 0/2 9.8 5%
600,000-699,999 24 2.0 1/3 12.5 8%
700,000-799,999 18 1.3 1/1 13.8 5%
800,000-899,999 6 .8 0/0 7.5 0%
900,000-999,999 4 .4 0/0 10.0 0%
1,000,000-1,999,999 21 .8 0/1 26.3 5%
2,000,000+ 3 .1 0/0 30 0%
Totals 402 75.9 14/96 5.3 24%

It looks like a buyers market under $400.000 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