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 $494,590 Days on the market 111
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 |
19 |
5.3 |
1 |
3.5 |
|
200,000-299,999 |
171 |
40.6 |
5 |
4.2 |
|
300,000-399,999 |
114 |
27.6 |
6 |
4.1 |
|
400,000-499,999 |
101 |
13.6 |
2 |
7.4 |
|
500,000-599,999 |
46 |
5.5 |
0 |
8.3 |
|
600,000-699,999 |
41 |
2.6 |
3 |
15.7 |
|
700,000-799,999 |
26 |
2.1 |
0 |
12.3 |
|
800,000-899,999 |
17 |
1.6 |
0 |
10.6 |
|
900,000-999,999 |
7 |
1 |
0 |
7 |
|
1,000,000-1,999,999 |
29 |
1.4 |
0 |
20.7 |
|
2,000,000+ |
5 |
.16 |
0 |
31.3 |
|
Totals |
574 |
99.3 |
17 |
5.8 |