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 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
26k-50k 1 0.2 0
176k-200k 2 1 0.3 0
201k-225k 1 0.2 0
226k-250k 2 1 0.3 0
251k-275k 1 6 1 1 1
276k-300k 5 23 6 0.8 1.3
301k-325k 6 21 5 0.6 1.7
326k-350k 15 64 10 0.7 1.4
351k-375k 21 94 15 0.7 1.3
376k-400k 60 141 26 0.4 2.6
401k-425k 34 120 16 0.6 1.7
426k-450k 52 106 7 0.3 2.9
451k-475k 42 75 10 0.3 3.4
476k-500k 30 98 21 0.5 1.8
501k-550k 60 101 19 0.3 3.6
551k-600k 39 63 13 0.3 3.7
601k-650k 19 46 9 0.4 2.5
651k-700k 27 30 3 0.2 5.4
701k-750k 11 29 5 0.4 2.3
751k-800k 14 21 2 0.3 4
801k-850k 6 12 3 0.3 3
851k-900k 9 10 1 0.2 5.4
901k-950k 3 3 0.2 6
951k-1m 6 8 1 0.2 4.5
1m-1.1m 4 4 0.2 6
1.1m-1.2m 4 4 1 0.2 6
1.2m-1.3m 3 2 1 0.1 9
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 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 2 0.3 3
176k-200k 1 10 2 1.7 0.6
201k-225k 8 10 0.2 4.8
226k-250k 12 27 3 0.4 2.7
251k-275k 9 22 4 0.4 2.5
276k-300k 15 27 5 0.3 3.3
301k-325k 5 7 0.2 4.3
326k-350k 12 8 0.1 9
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 4% 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 7 4 2 0.1 10.5
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