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 $502,920 Days on the market 102
Median List Price $379,000Days on the market 69
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $199,999 |
21 |
3.8 |
3 |
5.5 |
|
200,000-299,999 |
209 |
37.9 |
7 |
5.5 |
|
300,000-399,999 |
142 |
24.1 |
2 |
5.9 |
|
400,000-499,999 |
104 |
12.2 |
0 |
8.5 |
|
500,000-599,999 |
45 |
4.5 |
4 |
10.0 |
|
600,000-699,999 |
44 |
2.6 |
2 |
16.9 |
|
700,000-799,999 |
30 |
1.8 |
0 |
16.6 |
|
800,000-899,999 |
19 |
1.8 |
0 |
10.5 |
|
900,000-999,999 |
12 |
.8 |
0 |
15 |
|
1,000,000-1,999,999 |
40 |
1.3 |
1 |
30.7 |
|
2,000,000+ |
7 |
.1 |
0 |
70 |
|
Totals |
673 |
90.9 |
18 |
7.4 |