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:
Average List Price $476,529 Days on the market 105
Median List Price $369,000 Days on the market 75
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
Up to $150,000 |
2 |
.9 |
0 |
2.2 |
|
150,000-200,000 |
18 |
5.1 |
0 |
3.5 |
|
200,000-300,000 |
198 |
43.2 |
7 |
4.6 |
|
300,000-400,000 |
180 |
32.9 |
8 |
5.5 |
|
400,000-500,000 |
103 |
14.1 |
6 |
7.3 |
|
500,000-600,000 |
52 |
6.5 |
1 |
8.0 |
|
600,000-700,000 |
43 |
2.7 |
0 |
15.9 |
|
700,000-800,000 |
21 |
2.2 |
0 |
9.6 |
|
800,000-900,000 |
12 |
1.7 |
0 |
9.5 |
|
900,000-1,000,000 |
12 |
.8 |
1 |
15 |
|
1,000,000-2,000,000 |
29 |
1.7 |
0 |
17 |
|
2,000,000+ |
7 |
.34 |
0 |
20.5 |
|
Totals |
688 |
111 |
23 |
6.2 |