Absorption Rates for Bellingham – 4-13-10

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 $470,212 Days on the market 106

Median List Price $365,000     Days on the market 62

Price Range Active Listings Monthly Absorption Rate Pending Past week/Total Months to sell Current Inventory Pending Ratio
           
Up to $199,999 36 9.8 4/28 3.7 78%
200,000-299,999 172 3.8 17/66 5.1 38%
300,000-399,999 113 17.1 7/3 6.6 27%
400,000-499,999 88 7.6 3/11 7.3 13%
500,000-599,999 58 3.7 0/5 15.6 9%
600,000-699,999 27 2.2 0/5 12.3 19%
700,000-799,999 22 1.4 1/2 15.7 9%
800,000-899,999 10 .6 0/2 16.7 20%
900,000-999,999 6 .4 0/0 15 0%
1,000,000-1,999,999 29 .8 0/1 36.3 3%
2,000,000+ 4 .1 0/1 40 25%
Totals 565 77.2 32/140 7.3 26%

It still 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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