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 19% 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 1 0.2 0
226k-250k 3 1 0.5 0
251k-275k 7 3 1.2 0
276k-300k 2 21 7 1.8 0.6
301k-325k 3 25 3 1.4 0.7
326k-350k 18 64 13 0.6 1.7
351k-375k 24 91 21 0.6 1.6
376k-400k 64 139 23 0.4 2.8
401k-425k 36 127 13 0.6 1.7
426k-450k 46 113 16 0.4 2.4
451k-475k 46 74 12 0.3 3.7
476k-500k 37 94 21 0.4 2.4
501k-550k 58 102 17 0.3 3.4
551k-600k 36 68 13 0.3 3.2
601k-650k 26 42 12 0.3 3.7
651k-700k 24 33 3 0.2 4.4
701k-750k 15 28 7 0.3 3.2
751k-800k 12 18 2 0.3 4
801k-850k 7 16 3 0.4 2.6
851k-900k 7 13 3 0.3 3.2
901k-950k 4 4 2 0.2 6
951k-1m 5 10 1 0.3 3
1m-1.1m 6 4 0.1 9
1.1m-1.2m 3 5 1 0.3 3.6
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 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
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 0.2 0
176k-200k 3 11 2 0.6 1.6
201k-225k 5 14 2 0.5 2.1
226k-250k 17 28 3 0.3 3.6
251k-275k 8 21 5 0.4 2.3
276k-300k 20 26 5 0.2 4.6
301k-325k 5 12 1 0.4 2.5
326k-350k 10 8 1 0.1 7.5
351k-375k 10 2 0 30
376k-400k 1 4 1 0.7 1.5
401k-425k 1 0.2 0
451k-475k 1 0

Condos 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
151k-175k 3 0.5 0
176k-200k 6 3 0.1 12
201k-225k 1 2 0.3 3
226k-250k 3 5 1 0.3 3.6
251k-275k 4 4 0.2 6
276k-300k 2 1 0.1 12
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 10% 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 1 0.2 0
76k-100k 1 0.2 0
101k-125k 1 0.2 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