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 absorption rate, how long it will take to sell the current inventory at the said absorption rate.
This is a very interesting way to look at the market, as of today:
Average List Price $528,833 Days on the market 119
Median List Price $397,500 Days on the market 98
|
Price Range |
Active Listings |
Monthly Absorption Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
|
|
Up to $199,999 |
26 |
4.0 |
0 |
6.5 |
|
|
200,000-299,999 |
122 |
33.8 |
3 |
3.6 |
|
|
300,000-399,999 |
112 |
18.5 |
2 |
6.0 |
|
|
400,000-499,999 |
63 |
10.1 |
1 |
6.2 |
|
|
500,000-599,999 |
33 |
3.8 |
0 |
8.7 |
|
|
600,000-699,999 |
39 |
2.9 |
0 |
13.5 |
|
|
700,000-799,999 |
25 |
1.3 |
0 |
19.2 |
|
|
800,000-899,999 |
17 |
1.1 |
0 |
15.5 | |
|
900,000-999,999 |
14 |
.9 |
0 |
15.6 |
|
|
1,000,000-1,999,999 |
36 |
.8 |
0 |
45.0 |
|
|
2,000,000+ |
6 |
.1 |
0 |
60 |
|
|
Totals |
533 |
77.4 |
6 |
7.0 |