Absorption Report


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 Since 12/31 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
251k-275k 1 0.2 0
301k-325k 3 0.5 0
326k-350k 3 0.5 0
351k-375k 6 1 0
376k-400k 1 15 3 2.5 0.4
401k-425k 7 43 7 1 1
426k-450k 11 71 9 1.1 0.9
451k-475k 33 68 12 0.3 2.9
476k-500k 29 141 26 0.8 1.2
501k-550k 72 195 33 0.5 2.2
551k-600k 76 132 20 0.3 3.5
601k-650k 54 118 18 0.4 2.7
651k-700k 56 108 18 0.3 3.1
701k-750k 46 85 11 0.3 3.2
751k-800k 27 83 11 0.5 2
801k-850k 33 56 5 0.3 3.5
851k-900k 19 42 5 0.4 2.7
901k-950k 11 30 2 0.5 2.2
951k-1m 12 36 6 0.5 2
1m-1.1m 8 21 2 0.4 2.3
1.1m-1.2m 15 16 5 0.2 5.6
1.2m-1.3m 10 24 6 0.4 2.5
1.3m-1.4m 11 14 2 0.2 4.7
1.4m-1.5m 10 10 0.2 6
1.5m-1.6m 7 10 0.2 4.2
1.6m-1.7m 4 9 1 0.4 2.7
1.7m-1.8m 7 8 1 0.2 5.3
1.8m-1.9m 3 2 0.1 9
1.9m-2m 3 2 0.1 9
2m-2.25m 6 6 0.2 6
2.25m-2.5m 5 4 0.1 7.5
2.5m-2.75m 1 3 1 0.5 2
2.75m-3m 5 1 0 30
3m-3.5m 8 3 0.1 16
3.5m-4m 3 2 0.1 9
4m-4.5m 2 1 0.1 12
5.01m-6m 1 0
19.01m-20m 1 0

Townhouses 18% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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
276k-300k 1 1 0.2 6
301k-325k 1 3 0.5 2
326k-350k 1 11 1.8 0.5
351k-375k 7 14 2 0.3 3
376k-400k 8 23 4 0.5 2.1
401k-425k 7 11 1 0.3 3.8
426k-450k 12 17 0.2 4.2
451k-475k 3 13 2 0.7 1.4
476k-500k 4 7 0.3 3.4
501k-550k 2 3 1 0.3 4
601k-650k 3 5 2 0.3 3.6
651k-700k 2 0
901k-950k 1 1 0.2 0
1.2m-1.3m 1 0.2 0

Condos 20% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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
226k-250k 1 0
276k-300k 2 1 0.3 0
301k-325k 1 0
351k-375k 2 0.3 0
376k-400k 1 1 0.2 0
401k-425k 1 0
476k-500k 1 1 0.2 0
501k-550k 1 0

Land 13% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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
76k-100k 1 0
176k-200k 1 0
326k-350k 1 0.2 0
501k-550k 1 4 1 0.7 1.5
551k-600k 5 1 0 30
601k-650k 2 3 0.3 4
701k-750k 1 0
751k-800k 3 0
801k-850k 2 1 0.1 12
901k-950k 2 2 0.2 6
951k-1m 1 0
1.2m-1.3m 1 0
1.9m-2m 1 0
2.5m-2.75m 1 0.2 0