Absorption Report

Peoria

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
26k-50k 1 1 0.2 0
151k-175k 1 0.2 0
201k-225k 3 1 0.5 0
226k-250k 1 0.2 0
251k-275k 2 3 0.3 4
276k-300k 2 4 2 0.3 3
301k-325k 15 5 2.5 0
326k-350k 10 33 5 0.6 1.8
351k-375k 20 70 17 0.6 1.7
376k-400k 26 82 7 0.5 1.9
401k-425k 23 83 16 0.6 1.7
426k-450k 42 68 8 0.3 3.7
451k-475k 32 66 9 0.3 2.9
476k-500k 28 61 7 0.4 2.8
501k-550k 70 145 21 0.3 2.9
551k-600k 69 129 24 0.3 3.2
601k-650k 60 88 12 0.2 4.1
651k-700k 52 86 17 0.3 3.6
701k-750k 39 80 8 0.3 2.9
751k-800k 36 62 11 0.3 3.5
801k-850k 24 32 5 0.2 4.5
851k-900k 24 26 8 0.2 5.5
901k-950k 29 15 2 0.1 11.6
951k-1m 17 15 1 0.1 6.8
1m-1.1m 13 17 3 0.2 4.6
1.1m-1.2m 9 10 3 0.2 5.4
1.2m-1.3m 7 10 1 0.2 4.2
1.3m-1.4m 6 4 0.1 9
1.4m-1.5m 2 5 0.4 2.4
1.5m-1.6m 3 4 2 0.2 4.5
1.6m-1.7m 1 3 0.5 2
1.7m-1.8m 1 1 1 0.2 6
1.8m-1.9m 2 0.3 0
1.9m-2m 1 2 0.3 3
2m-2.25m 3 0
2.25m-2.5m 5 1 0 30
2.75m-3m 1 2 1 0.3 3
3m-3.5m 1 0.2 0
4.5m-5m 1 0

Townhouses 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
201k-225k 1 4 0.7 1.5
226k-250k 8 4 1.3 0
251k-275k 3 10 1 0.6 1.8
276k-300k 6 20 1 0.6 1.8
301k-325k 1 11 2 1.8 0.5
326k-350k 2 12 1 1 1
351k-375k 4 7 1 0.3 3.4
376k-400k 5 8 1 0.3 3.8
401k-425k 6 1 0 36
426k-450k 5 3 0.1 10
451k-475k 1 5 0.8 1.2
476k-500k 2 0.3 0
501k-550k 2 0.3 0
551k-600k 1 0.2 0
701k-750k 1 0.2 0

Condos 8% 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
176k-200k 2 2 0.2 6
201k-225k 1 0
226k-250k 3 1 0.1 18
251k-275k 2 0.3 0
301k-325k 2 2 1 0.2 6
326k-350k 2 2 2 0.2 6
351k-375k 1 0

Land 0% 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
1k-25k 2 0
126k-150k 1 0
151k-175k 3 1 0.1 18
176k-200k 4 0
201k-225k 1 0
226k-250k 1 0
276k-300k 1 0
301k-325k 1 0
326k-350k 1 0
351k-375k 2 0
376k-400k 3 0
401k-425k 2 1 0.1 12
426k-450k 4 1 0 24
451k-475k 3 3 0.2 6
476k-500k 3 1 0.1 18
501k-550k 3 1 0.1 18
551k-600k 3 0
601k-650k 1 0
751k-800k 1 0
851k-900k 1 0.2 0
951k-1m 1 0
1.1m-1.2m 1 0
1.5m-1.6m 1 0
2.5m-2.75m 1 0
10.01m-11m 1 0.2 0