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 $471,061 Days on the market 110
Median List Price $359,925 Days on the market 81
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
22 |
5.9 |
2 |
3.7 |
|
200,000-300,000 |
201 |
43.2 |
20 |
4.7 |
|
300,000-400,000 |
180 |
33.0 |
23 |
5.5 |
|
400,000-500,000 |
92 |
14.1 |
11 |
6.5 |
|
500,000-600,000 |
48 |
6.2 |
6 |
7.7 |
|
600,000-700,000 |
44 |
2.8 |
0 |
15.7 |
|
700,000-800,000 |
23 |
2.7 |
0 |
8.5 |
|
800,000-900,000 |
19 |
2.2 |
1 |
8.6 |
|
900,000-1,000,000 |
13 |
.8 |
1 |
16.3 |
|
1,000,000-2,000,000 |
27 |
1.7 |
1 |
15.9 |
|
2,000,000+ |
7 |
.34 |
0 |
20.5 |
|
Totals |
672 |
110 |
65 |
6.1 |