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 2 1 0.3 0
201k-225k 1 1 0.2 0
226k-250k 1 3 0.5 2
251k-275k 6 2 1 0
276k-300k 3 20 7 1.1 0.9
301k-325k 6 25 4 0.7 1.4
326k-350k 15 65 12 0.7 1.4
351k-375k 25 90 17 0.6 1.7
376k-400k 56 139 20 0.4 2.4
401k-425k 40 128 15 0.5 1.9
426k-450k 46 118 15 0.4 2.3
451k-475k 49 73 9 0.2 4
476k-500k 35 94 19 0.4 2.2
501k-550k 54 99 17 0.3 3.3
551k-600k 38 72 14 0.3 3.2
601k-650k 28 37 10 0.2 4.5
651k-700k 22 33 2 0.3 4
701k-750k 17 30 7 0.3 3.4
751k-800k 8 19 2 0.4 2.5
801k-850k 10 16 2 0.3 3.8
851k-900k 7 12 2 0.3 3.5
901k-950k 4 3 1 0.1 8
951k-1m 3 11 1 0.6 1.6
1m-1.1m 5 5 0.2 6
1.1m-1.2m 4 4 0.2 6
1.2m-1.3m 6 1 0 36
1.3m-1.4m 4 0
1.4m-1.5m 1 0
1.5m-1.6m 1 1 0.2 6
1.6m-1.7m 6 0
1.8m-1.9m 2 1 0.1 12
2.25m-2.5m 1 0
2.75m-3m 1 0
4.5m-5m 1 0

Townhouses 12% 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 1 0.2 6
176k-200k 3 11 2 0.6 1.6
201k-225k 4 14 2 0.6 1.7
226k-250k 14 29 5 0.3 2.9
251k-275k 9 19 3 0.4 2.8
276k-300k 21 28 3 0.2 4.5
301k-325k 5 13 2 0.4 2.3
326k-350k 8 7 1 0.1 6.9
351k-375k 11 3 2 0 22
376k-400k 1 5 1 0.8 1.2
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
101k-125k 1 0
151k-175k 3 0.5 0
176k-200k 7 3 0.1 14
201k-225k 1 2 0.3 3
226k-250k 2 5 1 0.4 2.4
251k-275k 4 4 0.2 6
276k-300k 2 0.3 0
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 9% 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
51k-75k 1 0
101k-125k 2 0.3 0
126k-150k 1 0
151k-175k 1 2 2 0.3 3
226k-250k 3 0
276k-300k 1 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
701k-750k 1 0
1.5m-1.6m 1 0
2.75m-3m 2 0
3.5m-4m 1 0
7.01m-8m 1 0
10.01m-11m 1 0