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 $495,843 Days on the market 109
Median List Price $387,250 Days on the market 68
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $199,999 |
18 |
5.3 |
0 |
3.4 |
|
200,000-299,999 |
170 |
40.6 |
5 |
4.2 |
|
300,000-399,999 |
122 |
27.6 |
4 |
4.4 |
|
400,000-499,999 |
103 |
13.6 |
2 |
7.6 |
|
500,000-599,999 |
45 |
5.5 |
1 |
8.1 |
|
600,000-699,999 |
42 |
2.6 |
0 |
16.1 |
|
700,000-799,999 |
27 |
2.1 |
0 |
12.6 |
|
800,000-899,999 |
15 |
1.6 |
2 |
9.3 |
|
900,000-999,999 |
9 |
1 |
0 |
9 |
|
1,000,000-1,999,999 |
30 |
1.4 |
0 |
21.4 |
|
2,000,000+ |
5 |
.16 |
0 |
31.3 |
|
Totals |
582 |
99.3 |
14 |
5.9 |