It’s time to look again at what’s happening at absorption rates in a few local cities.
Absorption rate is a way to look at the number of properties currently on the market and then using the number of recent sales, allows you see how long it would take for every property currently on the market to sell if no new properties became available for sale.
January 2008 Medford, Malden & Somerville Housing Stats
You can’t just look at the number of properties for sale. Somerville has 65 more properties on the market than Medford, yet when you look at their absorption rate, they are practically the same. I know I sound like a broken record, but this once again shows that all real estate is local and each town, and even each neighborhood has its own dynamics.