Absorption Report


Absorption Report

The absorption rate is essentially the total number of months that it would take to sell all of the current listings in a particular market. These ratings are in a constant state of fluctuation, based on supply and demand, and usually involve all homes sold within the previous six-month period. A lower absorption rate means that the property will likely take a bit longer to sell, and conversely, a higher number indicates that the property is likely to sell much faster. Both buyers and sellers can use this data to help predict sales activity and home prices for the property in question. For example, if a homeowner lives in a market with an absorption rate of 5-months and is also anxious to sell due to a job transfer, then it might be in his or her best interest to be more aggressive in the listing price.

Seller's
Market
Balanced
Market
Buyer's
Market
< 5 months Inventory 5 months Inventory > 5 months Inventory

Houses 17% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
251k-275k 1 0.2 0
301k-325k 3 0.5 0
326k-350k 2 0.3 0
351k-375k 6 1 0
376k-400k 1 12 2 2 0.5
401k-425k 7 43 6 1 1
426k-450k 19 65 12 0.6 1.8
451k-475k 33 68 9 0.3 2.9
476k-500k 24 136 20 0.9 1.1
501k-550k 79 194 34 0.4 2.4
551k-600k 78 132 17 0.3 3.5
601k-650k 55 120 26 0.4 2.8
651k-700k 55 110 17 0.3 3
701k-750k 45 85 14 0.3 3.2
751k-800k 32 83 14 0.4 2.3
801k-850k 30 56 8 0.3 3.2
851k-900k 21 39 2 0.3 3.2
901k-950k 8 28 3 0.6 1.7
951k-1m 10 31 7 0.5 1.9
1m-1.1m 11 19 3 0.3 3.5
1.1m-1.2m 11 15 2 0.2 4.4
1.2m-1.3m 7 28 5 0.7 1.5
1.3m-1.4m 11 14 2 0.2 4.7
1.4m-1.5m 12 11 1 0.2 6.5
1.5m-1.6m 9 10 1 0.2 5.4
1.6m-1.7m 2 8 1 0.7 1.5
1.7m-1.8m 6 9 1 0.3 4
1.8m-1.9m 3 2 0.1 9
1.9m-2m 3 1 0.1 18
2m-2.25m 7 5 0.1 8.4
2.25m-2.5m 4 4 0.2 6
2.5m-2.75m 3 3 0.2 6
2.75m-3m 4 1 0 24
3m-3.5m 9 3 0.1 18
3.5m-4m 2 2 0.2 6
4m-4.5m 3 1 0.1 18
5.01m-6m 2 0
19.01m-20m 1 0

Townhouses 20% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
276k-300k 2 2 1 0.2 6
301k-325k 2 0.3 0
326k-350k 2 11 0.9 1.1
351k-375k 8 10 0.2 4.8
376k-400k 7 25 4 0.6 1.7
401k-425k 8 10 1 0.2 4.8
426k-450k 6 16 1 0.4 2.3
451k-475k 3 10 2 0.6 1.8
476k-500k 6 8 2 0.2 4.5
501k-550k 1 4 1 0.7 1.5
551k-600k 1 0
601k-650k 2 5 0.4 2.4
651k-700k 2 0
801k-850k 1 1 0.2 0
901k-950k 1 1 0.2 0
1.2m-1.3m 1 0.2 0

Condos 14% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
226k-250k 1 0
276k-300k 2 0.3 0
301k-325k 1 0
351k-375k 1 0.2 0
376k-400k 2 2 2 0.2 6
401k-425k 1 0
476k-500k 1 1 0.2 0
501k-550k 1 0

Land 8% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months Sold in Last 6 Months Under Contract
Last 30 days
Sold in Last 6 Months
Absorption Rate Absorption Rate Months of Inventory Months of Inventory
76k-100k 1 0
176k-200k 1 0
326k-350k 1 0.2 0
376k-400k 1 0
501k-550k 4 1 0.7 0
551k-600k 4 0
601k-650k 2 3 0.3 4
651k-700k 1 0
701k-750k 1 0
751k-800k 3 0
801k-850k 2 1 0.1 12
901k-950k 2 2 0.2 6
951k-1m 2 0
1.2m-1.3m 1 0
1.9m-2m 1 0
2.5m-2.75m 1 0.2 0