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 $539,727 Days on the market 137
Median List Price $399,900 Days on the market 113
|
Price Range |
Active Listings |
Monthly Absorption Rate |
Pending Past week |
Months to sell Current Inventory |
|
|
|
|
|
|
|
|
|
Up to $199,999 |
25 |
4.9 |
4 |
5.1 |
|
|
200,000-299,999 |
105 |
31.3 |
6 |
3.4 |
|
|
300,000-399,999 |
97 |
17.4 |
3 |
5.5 |
|
|
400,000-499,999 |
66 |
9.3 |
1 |
7.1 |
|
|
500,000-599,999 |
33 |
3.2 |
1 |
10.3 |
|
|
600,000-699,999 |
34 |
2.4 |
0 |
14.1 |
|
|
700,000-799,999 |
20 |
.9 |
1 |
22.2 |
|
|
800,000-899,999 |
13 |
.9 |
0 |
14.4 | |
|
900,000-999,999 |
10 |
0.8 |
1 |
12.5 |
|
|
1,000,000-1,999,999 |
34 |
0.8 |
1 |
42.5 |
|
|
2,000,000+ |
6 |
.1 |
0 |
60.0 |
|
|
Totals |
443 |
72 |
21 |
6.2 |
It looks like a buyers market still under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.