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 $496,872 Days on the market 113
Median List Price $385,000 Days on the market 72
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $200,000 |
19 |
5.3 |
0 |
3.6 |
|
200,000-300,000 |
166 |
40.4 |
10 |
4.1 |
|
300,000-400,000 |
112 |
29.8 |
6 |
3.8 |
|
400,000-500,000 |
95 |
13.3 |
1 |
7.1 |
|
500,000-600,000 |
47 |
5.5 |
1 |
8.5 |
|
600,000-700,000 |
41 |
2.8 |
2 |
14.6 |
|
700,000-800,000 |
25 |
2.4 |
1 |
10.4 |
|
800,000-900,000 |
17 |
1.9 |
0 |
8.9 |
|
900,000-1,000,000 |
5 |
.8 |
0 |
6.3 |
|
1,000,000-2,000,000 |
28 |
1.4 |
0 |
20.0 |
|
2,000,000+ |
6 |
.25 |
0 |
24.0 |
|
Totals |
557 |
102 |
21 |
5.5 |