Absorption defined for the purposes of this chart as: Number of months to sell all listing inventory at the annualized pace of sales activity.

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The absorption rate continues to improve from a bottom up, but now there seems to be some build up of studio inventory.

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Note: This chart series does not include shadow inventory (properties ready for market but not yet listed for sale) so it generally understates the rate of condo absorption. The data set is to thin for a reliable Uptown presentation.