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 |