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 absorption rate, how long it will take to sell the current inventory at the said absorption rate.
This is a very interesting way to look at the market, as of today:
Average List Price $533,950 Days on the market 140
Median List Price $395,000 Days on the market 115
|
Price Range |
Active Listings |
Monthly Absorption Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
|
|
Up to $199,999 |
26 |
4.3 |
6 |
6.0 |
|
|
200,000-299,999 |
108 |
32.8 |
7 |
3.3 |
|
|
300,000-399,999 |
95 |
17.4 |
4 |
5.5 |
|
|
400,000-499,999 |
65 |
9.5 |
1 |
6.8 |
|
|
500,000-599,999 |
27 |
3.5 |
0 |
7.7 |
|
|
600,000-699,999 |
35 |
2.6 |
0 |
13.5 |
|
|
700,000-799,999 |
16 |
1.0 |
0 |
16.0 |
|
|
800,000-899,999 |
14 |
0.8 |
0 |
17.5 | |
|
900,000-999,999 |
13 |
0.8 |
0 |
16.2 |
|
|
1,000,000-1,999,999 |
33 |
0.8 |
1 |
41.3 |
|
|
2,000,000+ |
5 |
.1 |
0 |
50.0 |
|
|
Totals |
437 |
73.8 |
19 |
5.9 |
It looks like a buyers market still under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.