By Greg Perry
Kirkland Realtor
Eastside Absorption Rates: (How long (many weeks) to sell through inventory at the current rate of sale.)
7 Week Averages. / Weeks of inventory:
| 2-Jan | 30-May | 18-Jun | |
| 500 | 62.5 | 45.9 | 40.9 |
| 510 | 24.2 | 25.8 | 38.1 |
| 520 | 70.6 | 57.5 | 65.9 |
| 530 | 31.4 | 24.7 | 33.1 |
| 540 | 44 | 30.4 | 35.9 |
| 550 | 37.9 | 36.7 | 27.2 |
| 560 | 56.2 | 57.3 | 43.3 |
| 600 | 53.6 | 36.7 | 44.4 |
Absorption rates are calculated using the ratio of Active listings vs. Pending listings. Actives and Pendings are broken out by NWMLS Area and by Price range. 7 Weeks of activity are averaged.
Almost all Eastside area absorption rates have improved from the first of the year. (This is normal and should happen every year) 3 Areas absorbed inventory in the last 7 weeks, 5 areas built inventory during this period . Overall area 550 Redmond showed the greatest improvement. In the month of May, Pendings in 550 were up over last year (97 to 93). In the large Eastside areas of 500, 550, 600, the majority of sales are being made in the Western (closer in) portions. Overall the high end (over $900,000 in all Eastside areas is very slow and building inventory.
So keep in mind, even through inventory may be building in an area, some price ranges within the same area may in fact be absorbing inventory.
0-12 Weeks = Seller’s advantaged Market
12-24 Weeks = Balanced Market
24 Weeks plus = Buyer’s advantaged Market
(based on NWMLS stats not published or verified by NWMLS)
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