The absorption rate percentage based on pending sales (pending sales divided by the total number of active listings) gives you the present velocity of the market, which tells you if a market is a Buyer, Neutral or Seller’s market. If you break down King County’s $1m+ inventory into 9 separate price ranges, in increments of $250,000 dollars, 3 out of the 9 different sub-markets, as of 5/1/2019 through - 5/21/2019, are considered “Neutral” markets. 4 out of the 9 fall into the percentage range of a “Seller’s” market and 2 out of the 9 fall into the category of a “Buyer’s” market. The $2.75m to $3m and $3m+ price ranges are the 2 markets considered a Buyer’s market.
