Absorption Rates for Bellingham – 3-1-10

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 $490,110  Days on the market 114

Median List Price $385,000     Days on the market 56

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 3/30 3.0 111%
200,000-299,999 119 32.9 7/62 3.6 52%
300,000-399,999 106 17.3 7/22 6.1 21%
400,000-499,999 71 7.6 0/4 9.3 7%
500,000-599,999 43 3.8 1/5 10.5 12%
600,000-699,999 22 2.3 2/5 9.6 23%
700,000-799,999 15 1.4 2/2 10.8 13%
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 28 .8 0/0 27.8 0%
2,000,000+ 4 .1 1/1 40 25%
Totals 454 75.8 23/122 6.0 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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