You might recall from previous messages that absorption rates tell us how many months it will take to sell all existing inventory at the current pace of sales, if no new listings were added to the market. We like to look at absorption rates twice a year, on December 31st and again on June 30th as the trend can help indicate the direction of future prices.
As of June 30th, there were 37 condos for sale in Sea Colony East and 35 properties sold during the 12 months prior. This tells us the absorption rate is 13 months. Sea Colony West had 59 condo/townhomes for sale on June 30th and 45 properties sold during the 12 months prior. This tells us the absorption rate is 16 months.
*This data is derived from the Sussex County MLS and included