Explanation of absorption rate: The rate at which
available homes are sold in a specific real estate market during
a given time period. If you look at the
number for Wallingford you can say “If market
conditions do not change and if no
new listings come on the market it will take 7.2 months for the current
inventory to sell at the current pace of the market. A balanced market’s
absorption rate is typically between 5 – 7 months.”
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