North Port's Absorption rate

North Port
# of listings in North Port= 615 active listings
# of listings sold from June-16-July 16: 125
# of listings sold from May 16-June 16: 147
# of listings sold from Apr 16-May 16: 150
# of listings sold from Mar 16-Apr 16: 156
# of listings sold from Feb 16-Mar 16: 152
# of listings sold from Jan 16-Feb 16: 130
860 homes sold in the last six months in NP. Average number of homes sold per month over the last 6 months in NP: 143 homes
#sold (143 homes) X 12 (months) = 1716
divide 1716 by 52 weeks= 33 units per week
If 33 units sell each week divide that number into the number of active listings 33 divided by 663 = 19 weeks is the absorption rate or 4 ½ months of inventory in North Port.