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, as of today:
Average List Price $494,134 Days on the market 114
Median List Price $379,000 Days on the market 83
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
16 |
5.3 |
0 |
3.0 |
|
200,000-300,000 |
164 |
40.4 |
7 |
4.1 |
|
300,000-400,000 |
120 |
29.8 |
7 |
4.0 |
|
400,000-500,000 |
92 |
13.3 |
4 |
6.9 |
|
500,000-600,000 |
44 |
5.5 |
0 |
8.0 |
|
600,000-700,000 |
35 |
2.8 |
0 |
12.5 |
|
700,000-800,000 |
25 |
2.4 |
1 |
10.4 |
|
800,000-900,000 |
16 |
1.9 |
0 |
8.4 |
|
900,000-1,000,000 |
8 |
.8 |
0 |
10.0 |
|
1,000,000-2,000,000 |
25 |
1.4 |
0 |
17.9 |
|
2,000,000+ |
7 |
.25 |
0 |
28.0 |
|
Totals |
550 |
102 |
19 |
5.4 |