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.
The Pending Ratio is the number of homes currently under contract compared to the number of homes available for sale .
This is a very interesting way to look at the market, as of today:
Average List Price $523,421 Days on the market 117
Median List Price $409,925 Days on the market 76
|Price Range||Active Listings||Monthly Absorption Rate||Pending Past week/Total||Months to sell Current Inventory||Pending Ratio|
|Up to $199,999||35||6.3||2/32||5.6||91%|
It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.