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 $520,612 Days on the market 117
Median List Price $399,900 Days on the market 79
|Price Range||Active Listings||Monthly Absorption Rate||Pending Past week||Months to sell Current Inventory||Pending Ratio|
|Up to $199,999||28||6.1||6/35||4.5||125%|
It still looks like a buyers market under $300.000 as conventional wisdom goes anything less than 6 months inventory is a buyers market.