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 Old Saybrook you can say “If market conditions do not change and if no new
listings come on the market it will take 5.7 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.”
