Port Charlotte, FL absorption rate

Port Charlotte
# of listings in Port Charlotte= 1087 active listings
# of listings sold from June-16-July 16: 109
# of listings sold from May 16-June 16: 163
# of listings sold from Apr 16-May 16: 204
# of listings sold from Mar 16-Apr 16: 168
# of listings sold from Feb 16-Mar 16: 142
# of listings sold from Jan 16-Feb 16: 120
906 homes sold in the last six months in PC. Average number of homes sold per month over the last 6 months in PC: 151 homes
#sold (151 homes) X 12 (months) = 1812
divide 1812 by 52 weeks= 35 units per week
If 35 units sell each week divide that number into the number of active listings 35 divided by 1087 = 31 weeks is the absorption rate or about 8 months worth of inventory in Port Charlotte.