Supply & Demand in Surprise, 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 21% 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 2 2 0.3 0
176k-200k 1 0.2 0
201k-225k 2 0.3 0
226k-250k 1 1 0.2 0
251k-275k 1 1 0.2 6
276k-300k 2 15 5 1.3 0.8
301k-325k 6 22 7 0.6 1.6
326k-350k 30 93 18 0.5 1.9
351k-375k 53 154 35 0.5 2.1
376k-400k 145 226 54 0.3 3.8
401k-425k 131 229 44 0.3 3.4
426k-450k 121 162 51 0.2 4.5
451k-475k 110 132 28 0.2 5
476k-500k 90 127 23 0.2 4.3
501k-550k 130 160 38 0.2 4.9
551k-600k 126 122 25 0.2 6.2
601k-650k 77 53 15 0.1 8.7
651k-700k 57 28 5 0.1 12.2
701k-750k 21 25 4 0.2 5
751k-800k 31 23 8 0.1 8.1
801k-850k 6 9 1 0.3 4
851k-900k 7 7 0.2 6
901k-950k 3 9 0.5 2
951k-1m 3 3 1 0.2 6
1m-1.1m 8 3 1 0.1 16
1.1m-1.2m 4 0
1.2m-1.3m 5 2 1 0.1 15
1.3m-1.4m 1 1 1 0.2 6
1.4m-1.5m 4 2 1 0.1 12
1.5m-1.6m 1 0.2 0
1.7m-1.8m 1 0
1.8m-1.9m 1 0
2m-2.25m 1 0
2.5m-2.75m 2 0
2.75m-3m 1 0

Townhouses 17% 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 1 1 0.2 6
201k-225k 1 2 2 0.3 3
226k-250k 1 0
251k-275k 2 0.3 0
276k-300k 5 2 0.1 15
301k-325k 1 3 1 0.5 2
326k-350k 2 1 1 0.1 12
351k-375k 2 4 0.3 3
376k-400k 2 7 1 0.6 1.7
426k-450k 3 1 1 0.1 18
451k-475k 1 2 0.3 3
476k-500k 1 0
501k-550k 1 1 0.2 0
551k-600k 2 1 0.3 0

Condos 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
101k-125k 1 0
126k-150k 2 2 1 0.2 6
151k-175k 6 5 1 0.1 7.2
176k-200k 9 3 2 0.1 18
201k-225k 9 12 2 0.2 4.5
226k-250k 9 4 2 0.1 13.5
251k-275k 3 5 1 0.3 3.6
276k-300k 11 6 3 0.1 11
301k-325k 1 1 0.2 6
351k-375k 1 0.2 0
601k-650k 1 0

Land 6% 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
76k-100k 3 1 0.1 18
101k-125k 6 6 0.2 6
126k-150k 8 8 3 0.2 6
151k-175k 7 3 0.1 14
176k-200k 6 6 3 0.2 6
201k-225k 4 2 1 0.1 12
226k-250k 9 3 1 0.1 18
251k-275k 9 1 0 54
276k-300k 4 3 0.1 8
301k-325k 2 3 0.3 4
326k-350k 4 2 0.1 12
351k-375k 3 2 0.1 9
376k-400k 1 1 0.2 6
401k-425k 2 1 0.1 12
426k-450k 1 0
451k-475k 1 0.2 0
476k-500k 3 0
501k-550k 2 0
601k-650k 1 0
651k-700k 1 0
701k-750k 1 0
801k-850k 1 0
951k-1m 5 1 1 0 30
1.1m-1.2m 2 0
1.2m-1.3m 2 0
1.3m-1.4m 1 0
1.4m-1.5m 1 0
1.7m-1.8m 1 0
2.5m-2.75m 1 0
3m-3.5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0