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 $515,014 Days on the market 118
Median List Price $390,000 Days on the market 70
|Price Range||Active Listings||Monthly Absorption Rate||Pending Past week||Months to sell Current Inventory|
|Up to $199,999||29||5.2||5||5.6|
It still looks like a buyers market under $400.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.