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 $495,630 Days on the market 116
Median List Price $379,000 Days on the market 76
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
17 |
5.3 |
0 |
3.2 |
|
200,000-300,000 |
165 |
40.4 |
2 |
4.1 |
|
300,000-400,000 |
117 |
29.8 |
3 |
3.9 |
|
400,000-500,000 |
96 |
13.3 |
2 |
7.2 |
|
500,000-600,000 |
44 |
5.5 |
1 |
8.0 |
|
600,000-700,000 |
39 |
2.8 |
0 |
13.9 |
|
700,000-800,000 |
26 |
2.4 |
0 |
10.8 |
|
800,000-900,000 |
14 |
1.9 |
2 |
7.3 |
|
900,000-1,000,000 |
7 |
.8 |
1 |
8.8 |
|
1,000,000-2,000,000 |
27 |
1.4 |
0 |
19.2 |
|
2,000,000+ |
7 |
.25 |
0 |
28.0 |
|
Totals |
557 |
102 |
11 |
5.5 |