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:
Average List Price $466,738 Days on the market 119
Median List Price $369,000 Days on the market 99
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
17 |
5.3 |
0 |
3.2 |
|
200,000-300,000 |
151 |
40.4 |
6 |
3.7 |
|
300,000-400,000 |
126 |
29.8 |
3 |
4.2 |
|
400,000-500,000 |
86 |
13.3 |
0 |
6.7 |
|
500,000-600,000 |
37 |
5.5 |
0 |
6.7 |
|
600,000-700,000 |
25 |
2.8 |
0 |
8.9 |
|
700,000-800,000 |
19 |
2.4 |
0 |
7.9 |
|
800,000-900,000 |
13 |
1.9 |
0 |
6.8 |
|
900,000-1,000,000 |
8 |
.8 |
0 |
10 |
|
1,000,000-2,000,000 |
22 |
1.4 |
0 |
15.7 |
|
2,000,000+ |
4 |
.25 |
0 |
16.0 |
|
Totals |
505 |
102 |
9 |
5.0 |
Good breakdown of your market. I always find these number fascinating, not to mention very important. It’s critical for today’s real estate professional to be market-savvy, and I think knowing such things is very helpful. Can you think of other ways to stay productive and knowledgeable?