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 3 20 6 1.1 0.9
301k-325k 5 24 3 0.8 1.3
326k-350k 18 68 16 0.6 1.6
351k-375k 19 92 24 0.8 1.2
376k-400k 65 140 26 0.4 2.8
401k-425k 38 123 9 0.5 1.9
426k-450k 47 113 15 0.4 2.5
451k-475k 51 73 12 0.2 4.2
476k-500k 38 98 23 0.4 2.3
501k-550k 59 102 18 0.3 3.5
551k-600k 38 66 13 0.3 3.5
601k-650k 21 42 11 0.3 3
651k-700k 25 32 2 0.2 4.7
701k-750k 13 27 7 0.3 2.9
751k-800k 12 18 1 0.3 4
801k-850k 7 15 2 0.4 2.8
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 10 2 0.6 1.8
201k-225k 6 12 1 0.3 3
226k-250k 14 29 4 0.3 2.9
251k-275k 9 21 5 0.4 2.6
276k-300k 19 26 5 0.2 4.4
301k-325k 4 12 1 0.5 2
326k-350k 11 8 1 0.1 8.3
351k-375k 10 2 0 30
376k-400k 1 4 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 1 0.2 0
176k-200k 6 3 0.1 12
201k-225k 1 2 0.3 3
226k-250k 4 5 0.2 4.8
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 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 1 0.2 0
101k-125k 1 1 0.2 6
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