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 $517,989 Days on the market 108
Median List Price $384,500 Days on the market 73
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $199,999 |
26 |
3.8 |
3 |
6.8 |
|
200,000-299,999 |
186 |
35.7 |
6 |
5.2 |
|
300,000-399,999 |
168 |
21.9 |
3 |
7.7 |
|
400,000-499,999 |
91 |
12.0 |
5 |
7.6 |
|
500,000-599,999 |
56 |
4.3 |
2 |
13.0 |
|
600,000-699,999 |
47 |
3.3 |
2 |
14.2 |
|
700,000-799,999 |
29 |
1.6 |
0 |
18.1 |
|
800,000-899,999 |
15 |
1.4 |
0 |
10.7 |
|
900,000-999,999 |
17 |
.8 |
0 |
21.3 |
|
1,000,000-1,999,999 |
44 |
.9 |
0 |
48.9 |
|
2,000,000+ |
8 |
.1 |
0 |
80 |
|
Totals |
687 |
85.6 |
21 |
8.0 |