Absorption Report

East Point, Mount Olive

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 36% 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 2 0.3 0
76k-100k 2 0.3 0
101k-125k 1 0.2 0
151k-175k 1 7 1 1.2 0.9
176k-200k 6 19 7 0.5 1.9
201k-225k 5 25 7 0.8 1.2
226k-250k 20 48 10 0.4 2.5
251k-275k 33 63 9 0.3 3.1
276k-300k 20 80 16 0.7 1.5
301k-325k 19 50 9 0.4 2.3
326k-350k 18 51 11 0.5 2.1
351k-375k 22 36 6 0.3 3.7
376k-400k 21 38 5 0.3 3.3
401k-425k 7 12 2 0.3 3.5
426k-450k 7 12 1 0.3 3.5
451k-475k 7 7 2 0.2 6
476k-500k 5 7 1 0.2 4.3
501k-550k 4 12 4 0.5 2
551k-600k 5 1 0.8 0
601k-650k 3 0.5 0
651k-700k 1 1 0.2 6
701k-750k 1 3 0.5 2
751k-800k 1 3 0.5 2
801k-850k 1 1 0.2 6
851k-900k 1 1 0.2 6
1.1m-1.2m 1 0
1.2m-1.3m 1 1 1 0.2 6
1.7m-1.8m 1 0

Townhouses 31% 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 0.2 0
126k-150k 1 4 1 0.7 1.5
151k-175k 6 6 0.2 6
176k-200k 6 9 2 0.3 4
201k-225k 4 9 1 0.4 2.7
226k-250k 1 6 1 1
251k-275k 4 3 1 0.1 8
276k-300k 1 9 1 1.5 0.7
326k-350k 1 1 0.2 6
351k-375k 1 2 0.3 3
376k-400k 1 0.2 0

Condos 33% 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 2 0.3 0
101k-125k 1 2 0.3 3
126k-150k 3 5 2 0.3 3.6
151k-175k 2 2 2 0.2 6
176k-200k 3 7 1 0.4 2.6
201k-225k 4 6 2 0.3 4
226k-250k 1 1 0.2 0
251k-275k 2 0.3 0
276k-300k 3 0
326k-350k 1 2 0.3 3
351k-375k 1 0

Land 15% 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 3 2 0.1 9
26k-50k 2 4 2 0.3 3
51k-75k 5 1 1 0 30
76k-100k 4 0
101k-125k 1 0
126k-150k 1 0.2 0
176k-200k 1 0.2 0
201k-225k 1 0
226k-250k 1 0
251k-275k 2 0
276k-300k 1 0
426k-450k 1 0.2 0
851k-900k 2 0
951k-1m 1 0