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 $474,255 Days on the market 122
Median List Price $365,000 Days on the market 97
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
14 |
5.5 |
2 |
2.5 |
|
200,000-300,000 |
160 |
40.7 |
7 |
3.9 |
|
300,000-400,000 |
139 |
31.1 |
2 |
4.5 |
|
400,000-500,000 |
88 |
13.7 |
1 |
6.4 |
|
500,000-600,000 |
37 |
5.9 |
0 |
6.3 |
|
600,000-700,000 |
28 |
2.8 |
0 |
10.0 |
|
700,000-800,000 |
19 |
2.5 |
0 |
7.6 |
|
800,000-900,000 |
20 |
1.9 |
0 |
10.5 |
|
900,000-1,000,000 |
9 |
.8 |
0 |
11.3 |
|
1,000,000-2,000,000 |
24 |
1.5 |
0 |
16.0 |
|
2,000,000+ |
5 |
.34 |
0 |
14.7 |
|
Totals |
539 |
105 |
12 |
5.1 |