North Port
# of listings in North Port= 999 active listings
# of listings sold from Mar 22-Apr 22: 153
# of listings sold from Feb 22-Mar 22: 165
# of listings sold from Jan 22-Feb 22: 155
# of listings sold from Dec 22-Jan 22: 126
# of listings sold from Nov 22-Dec 22: 127
# of listings sold from Oct 22-Nov 22: 138
864 homes sold in the last six months in NP. Average number of homes sold per month over the last 6 months in NP: 144 homes
#sold (144 homes) X 12 (months) = 1728
divide 1728 by 52 weeks= 33.23 units per week
If 33.23 units sell each week divide that number into the number of active listings 33.23 divided by 999 = 30 weeks is the absorption rate or 7 ½ months of inventory in North Port.