Supply & Demand in Peoria, 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
201k-225k 1 2 0.3 3
226k-250k 1 0.2 0
251k-275k 3 1 0.5 0
276k-300k 1 6 2 1 1
301k-325k 3 9 2 0.5 2
326k-350k 10 41 6 0.7 1.5
351k-375k 14 64 18 0.8 1.3
376k-400k 27 70 14 0.4 2.3
401k-425k 36 72 19 0.3 3
426k-450k 35 65 15 0.3 3.2
451k-475k 34 68 15 0.3 3
476k-500k 44 57 18 0.2 4.6
501k-550k 99 129 27 0.2 4.6
551k-600k 87 112 16 0.2 4.7
601k-650k 62 83 15 0.2 4.5
651k-700k 51 91 19 0.3 3.4
701k-750k 50 65 12 0.2 4.6
751k-800k 48 52 14 0.2 5.5
801k-850k 27 34 5 0.2 4.8
851k-900k 35 41 5 0.2 5.1
901k-950k 29 22 5 0.1 7.9
951k-1m 12 14 3 0.2 5.1
1m-1.1m 9 16 5 0.3 3.4
1.1m-1.2m 11 10 5 0.2 6.6
1.2m-1.3m 11 10 1 0.2 6.6
1.3m-1.4m 5 7 1 0.2 4.3
1.4m-1.5m 5 7 1 0.2 4.3
1.5m-1.6m 2 5 0.4 2.4
1.6m-1.7m 1 5 1 0.8 1.2
1.7m-1.8m 2 4 0.3 3
1.8m-1.9m 2 3 0.3 4
1.9m-2m 4 1 0 24
2m-2.25m 1 4 1 0.7 1.5
2.25m-2.5m 4 2 1 0.1 12
2.5m-2.75m 1 0
2.75m-3m 2 2 0.2 6
3m-3.5m 1 3 1 0.5 2
4m-4.5m 1 0

Townhouses 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
176k-200k 1 2 0.3 3
201k-225k 1 2 1 0.3 3
226k-250k 8 10 1 0.2 4.8
251k-275k 5 11 4 0.4 2.7
276k-300k 10 11 3 0.2 5.5
301k-325k 1 4 0.7 1.5
326k-350k 6 6 3 0.2 6
351k-375k 8 8 3 0.2 6
376k-400k 12 8 1 0.1 9
401k-425k 8 2 1 0 24
426k-450k 6 3 2 0.1 12
451k-475k 1 1 0.2 6
476k-500k 1 0
551k-600k 1 0
601k-650k 1 0

Condos 33% 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
176k-200k 2 1 0.1 12
201k-225k 1 1 0.2 6
226k-250k 5 2 0.8 0
276k-300k 1 1 0.2 0
301k-325k 1 2 1 0.3 3
326k-350k 3 0.5 0
351k-375k 1 0.2 0

Land 2% 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
1k-25k 1 0
26k-50k 1 0
126k-150k 1 0
151k-175k 2 0
201k-225k 2 0
226k-250k 2 0
276k-300k 1 0
326k-350k 1 1 1 0.2 6
351k-375k 1 0
376k-400k 2 1 0.1 12
401k-425k 1 0.2 0
426k-450k 6 3 1 0.1 12
451k-475k 1 2 0.3 3
476k-500k 6 0
501k-550k 4 2 2 0.1 12
551k-600k 3 2 0.1 9
651k-700k 3 0
751k-800k 1 0
951k-1m 2 0
1.3m-1.4m 1 0.2 0
2.5m-2.75m 1 0
3.5m-4m 1 0