| Absorption is amount of inventory or units of a specific property type that become occupied during a specified time period (usually a year) in a given market, typically reported as the absorption rate. To calculate this number, take the number of properties that are active, and divide it by the number of properties that are under contract. What this means: < 5.00 is considered a Seller's Market. Between 5.00 and 6.00 is considered a Normal Market. > 6.00 is considered a Buyer's Market. |
| One Family 94 active / 18 under contract = 19.14 months 2-4 Family 152 active / 33 under contract = 20.8 months Vacant Land 14 active / 3 under contract = 21.70 months Commercial/Investment 60 active / 3 under contract = 5 months Condo/Co-op 121 active /19 under contract = 15.70 months The Entire Bayonne, NJ Real Estate Market 433 active / 73 under contract = 16.86 |
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