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 $498,953 Days on the market 104
Median List Price $370,000Days on the market 71
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $199,999 |
23 |
3.9 |
0 |
5.9 |
|
200,000-299,999 |
208 |
38.3 |
7 |
5.4 |
|
300,000-399,999 |
138 |
25.8 |
8 |
5.3 |
|
400,000-499,999 |
100 |
13.0 |
1 |
7.7 |
|
500,000-599,999 |
46 |
4.9 |
0 |
9.4 |
|
600,000-699,999 |
45 |
2.5 |
2 |
18 |
|
700,000-799,999 |
32 |
2.1 |
0 |
15.2 |
|
800,000-899,999 |
20 |
1.8 |
1 |
11.1 |
|
900,000-999,999 |
11 |
.8 |
0 |
13.8 |
|
1,000,000-1,999,999 |
38 |
1.5 |
0 |
25.3 |
|
2,000,000+ |
6 |
.1 |
0 |
60 |
|
Totals |
667 |
95.8 |
19 |
7.0 |