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Greater Portland Absorption Rates

Interesting what the absorption rates of local communities around Greater Portland can tell us about what is selling in the market place these days.

Below I have outlined by community at various price points the absorption rates (the rate at which it would take the market to "absorb" or sell all current inventory at the current rate of sales given that no new inventory is listed).

Absorption rates showing a supply of 6 months of inventory notes a balanced market. Above 6 months notes a buyers advantage. Below 6 months notes a sellers advantage. Not surprisingly, the absorption rates signal that under $250k in most communities is where the properties are selling most often.

 

Note: This table calculates the sales over the past 6 months (September '08 - February '09), divides by 6 to calculate the number of sales per month. The Current listings on the market are then divded by the sales per month to come to the values below per price point for Single Family Property.

Absorption Rates for Single Families - based on Current data March 11, 2009.

PRICE                 Portland   S.Portland  Windham  Scarborough  Gorham  Wsbk   Falm   Yarm   Cape Eliz.

und 150k               2.0            7.0           8.0             2.0            14.0      4.7       -        4.0         -

150-200                 3.6            4.0           7.0             3.8             5.4      4.4    12.0        -           -

201-250                 5.6            6.3           6.5             7.5             6.5     11.1     6.0       2.0      48.0

251-300                17.6          10.0         22.8             8.4           15.4     10.8    18.0     13.5      18.0

301-350                11.5          12.0           6.0             8.8            8.2        -        6.0     15.0      24.0

351-400                15.4          18.0         14.0            10.4          18.0      12.0   22.5      9.0         -

401-450                15.6          12.0            -              21.6          18.0        -        7.0        -          -

451-500                   -              -              6.0            16.0          24.0        -      16.0     30.0      48.0

501-600               18.0            6.0             -                7.2            -           -        8.4     24.0        -

601-700               33.0              -              -                  -              -           -      10.8        -          -

 

Note: The following table takes into account Current AND Pending (under contract, not yet sold) properties using the same formula as above to factor in all property, which assumes that any property that has not yet sold is Current.

 

PRICE                   Portland   S.Portland  Windham  Scarborough  Gorham     Wsbk    Falm   Yarm   Cape Eliz.

under 150k              5.2            15.0         11.3            6.0            16.0        6.7        -         4.0            -

150-200                  6.6              6.2           9.9            5.3              6.0        6.5     18.0       1.5           -

201-250                  8.0              8.7           8.3            9.0            10.0       12.5      7.0       6.0         54.0

251-300                18.9             13.0         28.8            9.6            17.1       12.0    27.0      13.5         24.0

301-350                14.2             12.0          8.3             8.8             8.7          -        7.2      15.0         24.0

351-400                16.3             18.0        14.0           10.9            18.0       18.0     25.5       9.0            -

401-450                15.6             12.0           -             24.0            18.0          -        8.0          -            -

451-500                   -                 -             6.0           20.0            24.0          -      18.0     36.0         48.0

501-600                27.0               6.0           -               7.2               -            -      10.2     24.0            -

601-700                33.0                -              -                 -                -            -      10.8      3.0            -

 

Wsbk = Westbrook, Falm = Falmouth, Yarm = Yarmouth, Cape Eliz. = Cape Elizabeth

 

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Jeff Mateja is the CEO/REALTOR at Universal Properties at Keller Williams Realty in Portland, Maine, and founder of ILovePortlandMaine.com, a blog about everything Portland, Maine, and beyond. Jeff also offers two premier home search tools for Buyers via FindPortlandHomesNow.com and FindMaineHomesNow.com. If you would like further information on any blog topics, please e-mail Jeff Mateja.

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Comment balloon 1 commentJeff Mateja • March 12 2009 09:05PM
Greater Portland Absorption Rates
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Interesting what the absorption rates of local communities around Greater Portland can tell us about what is selling in the market place these days. Below I have outlined by community at various price points the absorption rates (the rate at… more