Saturday, March 5, 2011

Thornwood Absorption Rates

Absorption Rates tell us how many months of inventory is currently available based on the sales rate of the previous month(s).

Currently there are 34 detached single family homes on the market in Thornwood and in the past 3 months 5 homes have sold. That is a sales rate of 1.66 homes/month. 34 homes divided by 1.66 gives us 20.5 months of inventory.

For attached housing units (townhomes) there are currently 14 available and in the past 3 months only one has sold. This is a sales rate of .33 sales/month. 14 divided by .33 is
42.4 months of attached housing inventory in Thornwood.

Keep in mind the previous 3 months are the typical slowest months of the year. I expect this number to decrease as we move into the busier Spring season.

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