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 $532,748 Days on the market 113
Median List Price $394,500 Days on the market 82
|
Price Range |
Active Listings |
Monthly Absorbtion Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
Up to $199,999 |
27 |
3.8 |
3 |
7.1 |
|
200,000-299,999 |
165 |
33.4 |
9 |
4.9 |
|
300,000-399,999 |
146 |
20.4 |
10 |
7.1 |
|
400,000-499,999 |
90 |
11.3 |
4 |
7.9 |
|
500,000-599,999 |
48 |
4.2 |
1 |
11.4 |
|
600,000-699,999 |
43 |
3.1 |
0 |
13.9 |
|
700,000-799,999 |
28 |
1.5 |
0 |
18.7 |
|
800,000-899,999 |
20 |
1.4 |
0 |
14.3 |
|
900,000-999,999 |
15 |
.8 |
0 |
18.9 |
|
1,000,000-1,999,999 |
45 |
.9 |
0 |
50.0 |
|
2,000,000+ |
9 |
.1 |
0 |
90 |
|
Totals |
636 |
80.1 |
27 |
7.9 |