Absorption Report

Cedar Springs, Multi-unit


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 28% 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
51k-75k 1 0
101k-125k 1 3 1 0.5 2
126k-150k 3 1 0.5 0
151k-175k 3 1 0.5 0
176k-200k 2 8 2 0.7 1.5
201k-225k 1 30 8 5 0.2
226k-250k 12 48 10 0.7 1.5
251k-275k 30 78 13 0.4 2.3
276k-300k 38 77 11 0.3 3
301k-325k 28 65 19 0.4 2.6
326k-350k 32 54 11 0.3 3.6
351k-375k 38 42 5 0.2 5.4
376k-400k 33 38 4 0.2 5.2
401k-425k 28 21 2 0.1 8
426k-450k 22 30 6 0.2 4.4
451k-475k 15 20 1 0.2 4.5
476k-500k 8 18 5 0.4 2.7
501k-550k 18 26 5 0.2 4.2
551k-600k 15 13 2 0.1 6.9
601k-650k 10 14 3 0.2 4.3
651k-700k 7 11 1 0.3 3.8
701k-750k 11 3 2 0 22
751k-800k 4 1 0 24
801k-850k 1 1 0.2 6
851k-900k 4 2 0.1 12
901k-950k 1 0.2 0
1.1m-1.2m 1 0
1.3m-1.4m 1 0
1.4m-1.5m 1 0
6.01m-7m 1 0

Townhouses 37% 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
101k-125k 1 0.2 0
151k-175k 1 4 2 0.7 1.5
201k-225k 2 0.3 0
226k-250k 3 0.5 0
276k-300k 2 0.3 0
301k-325k 1 17 1 2.8 0.4
326k-350k 3 5 1 0.3 3.6
351k-375k 6 7 1 0.2 5.1
376k-400k 6 0
401k-425k 2 0

Condos 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
101k-125k 1 1 0.2 0
176k-200k 1 1 0.2 6
326k-350k 1 0

Land 14% 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 3 0.3 4
26k-50k 8 10 1 0.2 4.8
51k-75k 13 7 1 0.1 11.1
76k-100k 5 1 0 30
101k-125k 2 0.3 0
126k-150k 1 0
151k-175k 2 1 0.1 12
176k-200k 3 0
201k-225k 1 0
226k-250k 1 0
276k-300k 2 2 0.2 6
301k-325k 1 0
351k-375k 1 0
376k-400k 1 0
426k-450k 2 0
476k-500k 1 0
501k-550k 1 1 0.2 0
701k-750k 1 0
751k-800k 1 0
851k-900k 1 1 0.2 6
951k-1m 3 0
1.2m-1.3m 1 0
1.3m-1.4m 1 0.2 0
1.6m-1.7m 1 0
2m-2.25m 1 0
2.5m-2.75m 1 0
3.5m-4m 1 0
6.01m-7m 1 0