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 $470,233 Days on the market 124
Median List Price $361,300 Days on the market 99
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
15 |
5.5 |
0 |
2.7 |
|
200,000-300,000 |
165 |
40.7 |
3 |
4.1 |
|
300,000-400,000 |
135 |
31.1 |
4 |
4.3 |
|
400,000-500,000 |
89 |
13.7 |
0 |
6.2 |
|
500,000-600,000 |
37 |
5.9 |
1 |
6.2 |
|
600,000-700,000 |
27 |
2.8 |
0 |
9.6 |
|
700,000-800,000 |
20 |
2.5 |
0 |
8.0 |
|
800,000-900,000 |
17 |
1.9 |
0 |
89 |
|
900,000-1,000,000 |
10 |
.8 |
0 |
10 |
|
1,000,000-2,000,000 |
23 |
1.5 |
0 |
15.3 |
|
2,000,000+ |
5 |
.34 |
0 |
16.6 |
|
Totals |
539 |
105 |
8 |
5.1 |