Absorption Rates for Bellingham – 2-22-10

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 $485,179   Days on the market 117

Median List Price $385,000     Days on the market 70

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 26 9.1 3/31 2.9 119%
200,000-299,999 125 32.6 13/67 3.8 54%
300,000-399,999 105 17.1 8/22 6.1 21%
400,000-499,999 71 7.3 0/5 9.7 7%
500,000-599,999 42 4.0 0/4 10.5 10%
600,000-699,999 25 2.2 0/5 11.4 20%
700,000-799,999 18 1.3 1/1 13.8 6%
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 26 .9 0/0 27.8 0%
2,000,000+ 4 .1 0/0 40 0%
Totals 462 75.1 24/122 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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