Absorption Report

Glendale, AZ

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 18% 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
26k-50k 1 0.2 0
176k-200k 3 1 0.5 0
201k-225k 1 0.2 0
226k-250k 2 1 0.3 0
251k-275k 1 6 1 1 1
276k-300k 4 23 7 1 1
301k-325k 6 21 5 0.6 1.7
326k-350k 15 66 11 0.7 1.4
351k-375k 17 95 18 0.9 1.1
376k-400k 63 140 26 0.4 2.7
401k-425k 34 120 13 0.6 1.7
426k-450k 50 110 11 0.4 2.7
451k-475k 45 75 10 0.3 3.6
476k-500k 30 101 24 0.6 1.8
501k-550k 57 100 20 0.3 3.4
551k-600k 38 66 12 0.3 3.5
601k-650k 20 43 10 0.4 2.8
651k-700k 28 29 2 0.2 5.8
701k-750k 12 29 6 0.4 2.5
751k-800k 13 21 2 0.3 3.7
801k-850k 7 13 3 0.3 3.2
851k-900k 7 10 1 0.2 4.2
901k-950k 4 3 1 0.1 8
951k-1m 5 10 1 0.3 3
1m-1.1m 6 4 0.1 9
1.1m-1.2m 4 4 1 0.2 6
1.2m-1.3m 3 1 0.1 18
1.3m-1.4m 4 0
1.4m-1.5m 1 0
1.5m-1.6m 1 0
1.6m-1.7m 4 1 1 0 24
1.8m-1.9m 2 1 0.1 12
2.25m-2.5m 1 0
2.75m-3m 1 0

Townhouses 11% 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
151k-175k 1 2 0.3 3
176k-200k 2 10 2 0.8 1.2
201k-225k 7 11 1 0.3 3.8
226k-250k 12 29 2 0.4 2.5
251k-275k 9 21 3 0.4 2.6
276k-300k 18 26 4 0.2 4.2
301k-325k 4 8 1 0.3 3
326k-350k 11 8 1 0.1 8.3
351k-375k 9 3 0.1 18
376k-400k 1 3 0.5 2
401k-425k 1 0.2 0
451k-475k 1 0

Condos 5% 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
151k-175k 1 0.2 0
176k-200k 6 3 1 0.1 12
201k-225k 1 2 0.3 3
226k-250k 4 5 0.2 4.8
251k-275k 3 5 1 0.3 3.6
276k-300k 1 1 0.2 6
301k-325k 2 0.3 0
326k-350k 2 0
351k-375k 3 2 0.1 9
376k-400k 1 1 0.2 6

Land 0% 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
26k-50k 1 1 0.2 0
101k-125k 1 1 0.2 6
126k-150k 1 0
151k-175k 1 2 0.3 3
226k-250k 2 0
276k-300k 1 1 0.2 6
301k-325k 1 0
326k-350k 1 1 0.2 6
351k-375k 1 0
376k-400k 1 0
401k-425k 1 0
651k-700k 1 0
1.5m-1.6m 1 0
2.75m-3m 2 0
3.5m-4m 1 1 1 0.2 6