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 absorbtion rate, how long it will take to sell the current inventory at the said absortion rate.
This is a very interesting way to look at the market, as of today:
Average List Price $535,964 Days on the market 112
Median List Price $395,000 Days on the market 88
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $199,999 |
33 |
3.8 |
1 |
8.6 |
|
200,000-299,999 |
158 |
34.0 |
12 |
4.6 |
|
300,000-399,999 |
125 |
19.1 |
11 |
6.5 |
|
400,000-499,999 |
83 |
10.8 |
3 |
7.7 |
|
500,000-599,999 |
45 |
3.9 |
0 |
11.5 |
|
600,000-699,999 |
43 |
3.3 |
0 |
14.3 |
|
700,000-799,999 |
26 |
1.4 |
0 |
18.5 |
|
800,000-899,999 |
19 |
1.1 |
0 |
17.2 |
|
900,000-999,999 |
16 |
1.0 |
0 |
16 |
|
1,000,000-1,999,999 |
44 |
.8 |
0 |
55 |
|
2,000,000+ |
8 |
.1 |
0 |
80 |
|
Totals |
600 |
79.3 |
27 |
7.6 |