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 2 1 0.3 0
226k-250k 1 3 0.5 2
251k-275k 5 1 0.8 0
276k-300k 5 18 4 0.6 1.7
301k-325k 6 26 4 0.7 1.4
326k-350k 14 65 12 0.8 1.3
351k-375k 22 91 22 0.7 1.5
376k-400k 64 138 22 0.4 2.8
401k-425k 38 131 13 0.6 1.7
426k-450k 52 128 22 0.4 2.4
451k-475k 50 84 10 0.3 3.6
476k-500k 43 90 13 0.3 2.9
501k-550k 61 101 18 0.3 3.6
551k-600k 36 73 12 0.3 3
601k-650k 29 39 8 0.2 4.5
651k-700k 23 36 2 0.3 3.8
701k-750k 21 31 5 0.2 4.1
751k-800k 9 20 4 0.4 2.7
801k-850k 11 15 3 0.2 4.4
851k-900k 9 11 1 0.2 4.9
901k-950k 3 2 0.1 9
951k-1m 5 11 2 0.4 2.7
1m-1.1m 4 5 2 0.2 4.8
1.1m-1.2m 4 4 0.2 6
1.2m-1.3m 6 1 0 36
1.3m-1.4m 3 0
1.4m-1.5m 1 0
1.5m-1.6m 1 1 0.2 6
1.6m-1.7m 5 0
1.7m-1.8m 1 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 16% 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 9 0.5 2
201k-225k 3 17 5 0.9 1.1
226k-250k 17 29 7 0.3 3.5
251k-275k 9 22 4 0.4 2.5
276k-300k 18 29 4 0.3 3.7
301k-325k 6 15 1 0.4 2.4
326k-350k 9 8 1 0.1 6.8
351k-375k 12 2 1 0 36
376k-400k 1 5 1 0.8 1.2
401k-425k 1 0.2 0
426k-450k 1 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 3 0.5 0
176k-200k 7 3 0.1 14
201k-225k 2 2 0.2 6
226k-250k 2 5 1 0.4 2.4
251k-275k 4 5 0.2 4.8
276k-300k 2 1 0.3 0
301k-325k 2 0.3 0
326k-350k 2 0
351k-375k 4 2 0.1 12
376k-400k 1 1 0.2 6

Land 13% 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 1 0.3 0
126k-150k 1 0
151k-175k 1 2 2 0.3 3
226k-250k 3 0
276k-300k 2 0
301k-325k 1 1 0.2 0
326k-350k 1 1 1 0.2 6
351k-375k 1 0
376k-400k 1 0
401k-425k 1 0
651k-700k 1 0
751k-800k 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