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 $462,722Days on the market 109
Median List Price $359,00 Days on the market 85
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
22 |
5.8 |
1 |
3.8 |
|
200,000-300,000 |
198 |
42.1 |
7 |
4.7 |
|
300,000-400,000 |
166 |
32.6 |
1 |
5.1 |
|
400,000-500,000 |
93 |
14.3 |
1 |
6.5 |
|
500,000-600,000 |
45 |
6.0 |
2 |
7.5 |
|
600,000-700,000 |
37 |
2.9 |
1 |
12.6 |
|
700,000-800,000 |
22 |
2.76 |
0 |
8.5 |
|
800,000-900,000 |
21 |
2.0 |
0 |
10.5 |
|
900,000-1,000,000 |
11 |
.8 |
0 |
13.8 |
|
1,000,000-2,000,000 |
25 |
1.5 |
0 |
16.6 |
|
2,000,000+ |
5 |
.34 |
0 |
16.6 |
|
Totals |
639 |
108 |
14 |
5.9 |