Absorption Rates for Bellingham – 2-16-010

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 $480,799    Days on the market 118

Median List Price $379,900      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 27 9.1 7/32 3.0 119%
200,000-299,999 126 32.6 14/63 3.9 50%
300,000-399,999 110 17.1 3/18 6.4 16%
400,000-499,999 69 7.3 1/5 9.5 7%
500,000-599,999 41 4.0 1/4 10.3 10%
600,000-699,999 23 2.2 0/5 10.5 21%
700,000-799,999 19 1.3 0/1 14.6 5%
800,000-899,999 13 .8 0/0 16.3 0%
900,000-999,999 6 .4 0/0 15.0 0%
1,000,000-1,999,999 25 .9 0/0 27.8 0%
2,000,000+ 4 .1 0/0 40 0%
Totals 463 75.1 29/122 6.2 27%

It looks like a buyers market under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.

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