Venice, Florida's absorption rate

Venice single family homes
# of listings in Venice= 819 active listings
# of listings sold from Mar 22-Apr 22: 79
# of listings sold from Feb 22-Mar 22: 69
# of listings sold from Jan 22-Feb 22: 67
# of listings sold from Dec 22-Jan 22: 54
# of listings sold from Nov 22-Dec 22: 67
# of listings sold from Oct 22-Nov 22: 63
399 single family homes sold in the last six months in Venice. Average number of homes sold per month over the last 6 months in Venice: 67 homes
#sold (67 homes) X 12 (months) = 804
divide 804 by 52 weeks= 16 units per week
If 16 units sell each week divide that number into the number of active listings 16 divided by 819 = 51 weeks is the absorption rate or about a years worth of inventory in Venice.

Venice condos and townhomes
# of listings in Venice= 461 active listings
# of listings sold from Mar 22-Apr 22: 34
# of listings sold from Feb 22-Mar 22: 31
# of listings sold from Jan 22-Feb 22: 23
# of listings sold from Dec 22-Jan 22: 16
# of listings sold from Nov 22-Dec 22: 19
# of listings sold from Oct 22-Nov 22: 20
143 condos and townhomes sold in the last six months in Venice. Average number of condos sold per month over the last 6 months in Venice: 24 condos
#sold (24 condos) X 12 (months) = 288
divide 288 by 52 weeks= 6 units per week
If 6 units sell each week divide that number into the number of active listings 6 divided by 461 = 77 weeks is the absorption rate or about a year and a half worth of inventory in Venice.