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 $469,872 Days on the market 117
Median List Price $359,900 Days on the market 89
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
17 |
5.5 |
0 |
3.1 |
|
200,000-300,000 |
174 |
40.7 |
4 |
4.3 |
|
300,000-400,000 |
151 |
31.1 |
2 |
4.9 |
|
400,000-500,000 |
90 |
13.7 |
3 |
6.6 |
|
500,000-600,000 |
40 |
5.9 |
1 |
6.8 |
|
600,000-700,000 |
27 |
2.8 |
0 |
9.6 |
|
700,000-800,000 |
21 |
2.5 |
0 |
8.4 |
|
800,000-900,000 |
22 |
1.9 |
1 |
11.8 |
|
900,000-1,000,000 |
8 |
.8 |
1 |
10 |
|
1,000,000-2,000,000 |
25 |
1.5 |
0 |
16.7 |
|
2,000,000+ |
5 |
.34 |
0 |
16.7 |
|
Totals |
574 |
105 |
17 |
5.5 |