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 $521,854 Days on the market 105
Median List Price $379,000 Days on the market 67
The NWMLS changed some of their categories around so their are now 4 categories of pending listings, including pending inspection, which previously was Active subject to inspection, so the stats will vary a bit for this week but not really by much and it doesn’t really seem to affect the numbers much except their are lots more pending sales this past week.
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
Up to $199,999 |
24 |
3.8 |
3 |
6.3 |
200,000-299,999 |
187 |
37.2 |
14 |
5.0 |
300,000-399,999 |
147 |
22.6 |
5 |
6.5 |
400,000-499,999 |
84 |
12.1 |
6 |
6.9 |
500,000-599,999 |
53 |
4.3 |
3 |
12.3 |
600,000-699,999 |
43 |
3.3 |
0 |
13.0 |
700,000-799,999 |
30 |
1.7 |
1 |
17.6 |
800,000-899,999 |
18 |
1.8 |
1 |
10.0 |
900,000-999,999 |
12 |
.8 |
0 |
15.0 |
1,000,000-1,999,999 |
44 |
1.2 |
1 |
36.6 |
2,000,000+ |
8 |
.1 |
0 |
80 |
Totals |
650 |
88.9 |
36 |
7.3 |