There is something in the Real Estate Industry that we call absorption rate. All that means is the number of properties actively on the market divided by the number of properties that have been sold per month. This leaves us with how long will it take to sell the remaining homes given the current run rate and nothing else coming on to the market.

I just ran these numbers for Somersett, the Premier Golf Community in the North West Foothills of Reno, NV and the following is the result:

Total number of homes in the community: 1792

Somersett has several different sub divisions including two townhome communities (The Village & The Vue), also a Del Webb over 55 community.

I ran two sets of numbers, one including The Village, The Vue & Del Webb & the other excluding these communities and including everything else.

There are currently only 68 Active listings total and based on the current run rate that says we only have 4.2 months of inventory.

There are only 30 active listings outside of The Village, The Vue, and Del Webb and once again based on the run rate this says only 3.7 months of inventory.

A balanced market is considered to be six months of inventory.

Bottom Line: If you are considering selling property in Somersett now would be a good time as long as it is priced competitivly.