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 $531,622 Days on the market 128
Median List Price $399,450 Days on the market 93
|
Price Range |
Active Listings |
Monthly Absorption Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
|
|
Up to $199,999 |
25 |
5.1 |
5 |
4.9 |
|
|
200,000-299,999 |
121 |
30.5 |
7 |
4.0 |
|
|
300,000-399,999 |
99 |
16.7 |
3 |
5.9 |
|
|
400,000-499,999 |
68 |
8.7 |
2 |
7.8 |
|
|
500,000-599,999 |
40 |
3.1 |
5 |
12.9 |
|
|
600,000-699,999 |
31 |
2.3 |
0 |
13.4 |
|
|
700,000-799,999 |
28 |
.9 |
0 |
31.1 |
|
|
800,000-899,999 |
11 |
.9 |
0 |
12.2 | |
|
900,000-999,999 |
11 |
0.5 |
0 |
22 |
|
|
1,000,000-1,999,999 |
36 |
0.8 |
0 |
45 |
|
|
2,000,000+ |
5 |
.1 |
0 |
50.0 |
|
|
Totals |
476 |
69.5 |
22 |
6.8 |
It still looks like a buyers market ,under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.