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 $473,622 Days on the market 107
Median List Price $360,000 Days on the market 78
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
95 |
5.9 |
2 |
3.7 |
|
200,000-300,000 |
200 |
43.2 |
5 |
4.6 |
|
300,000-400,000 |
183 |
33.0 |
2 |
5.5 |
|
400,000-500,000 |
96 |
14.1 |
12 |
6.8 |
|
500,000-600,000 |
50 |
6.2 |
3 |
8.1 |
|
600,000-700,000 |
44 |
2.8 |
0 |
15.7 |
|
700,000-800,000 |
24 |
2.7 |
0 |
8.8 |
|
800,000-900,000 |
19 |
2.2 |
0 |
8.6 |
|
900,000-1,000,000 |
13 |
.8 |
1 |
16.3 |
|
1,000,000-2,000,000 |
28 |
1.7 |
0 |
16.4 |
|
2,000,000+ |
7 |
.34 |
0 |
20.5 |
|
Totals |
667 |
110 |
13 |
6.1 |