Absorption Report

Cherokee County

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 26% 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
26k-50k 1 1 0.2 6
51k-75k 2 1 0.3 0
101k-125k 1 0.2 0
126k-150k 4 1 0.7 0
151k-175k 1 1 0.2 0
176k-200k 3 0.5 0
201k-225k 2 3 0.3 4
226k-250k 1 11 2 1.8 0.5
251k-275k 3 15 2 0.8 1.2
276k-300k 9 34 4 0.6 1.6
301k-325k 15 55 11 0.6 1.6
326k-350k 24 87 12 0.6 1.7
351k-375k 28 95 5 0.6 1.8
376k-400k 40 128 21 0.5 1.9
401k-425k 45 142 19 0.5 1.9
426k-450k 45 137 15 0.5 2
451k-475k 38 94 14 0.4 2.4
476k-500k 51 91 10 0.3 3.4
501k-550k 98 170 27 0.3 3.5
551k-600k 56 135 23 0.4 2.5
601k-650k 72 112 16 0.3 3.9
651k-700k 63 113 15 0.3 3.3
701k-750k 33 66 5 0.3 3
751k-800k 37 46 3 0.2 4.8
801k-850k 30 44 3 0.2 4.1
851k-900k 30 35 2 0.2 5.1
901k-950k 17 22 3 0.2 4.6
951k-1m 17 20 2 0.2 5.1
1m-1.1m 12 20 3 0.3 3.6
1.1m-1.2m 13 21 4 0.3 3.7
1.2m-1.3m 11 7 2 0.1 9.4
1.3m-1.4m 7 15 3 0.4 2.8
1.4m-1.5m 6 8 3 0.2 4.5
1.5m-1.6m 11 5 0.1 13.2
1.6m-1.7m 3 6 2 0.3 3
1.7m-1.8m 2 4 0.3 3
1.8m-1.9m 2 1 0.1 12
1.9m-2m 5 2 1 0.1 15
2m-2.25m 5 4 0.1 7.5
2.25m-2.5m 9 5 1 0.1 10.8
2.5m-2.75m 7 1 0 42
2.75m-3m 4 0
3m-3.5m 4 0
3.5m-4m 3 0
4m-4.5m 1 0.2 0
4.5m-5m 2 0
5.01m-6m 1 0

Townhouses 25% 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
226k-250k 3 0.5 0
251k-275k 4 1 0.7 0
276k-300k 3 7 3 0.4 2.6
301k-325k 8 12 0.3 4
326k-350k 11 23 3 0.3 2.9
351k-375k 12 19 1 0.3 3.8
376k-400k 7 15 2 0.4 2.8
401k-425k 7 14 1 0.3 3
426k-450k 14 10 1 0.1 8.4
451k-475k 8 9 3 0.2 5.3
476k-500k 5 13 0.4 2.3
501k-550k 6 11 3 0.3 3.3
551k-600k 14 10 3 0.1 8.4
601k-650k 5 2 0.1 15
651k-700k 13 2 0 39
701k-750k 4 4 0.2 6
751k-800k 6 1 0
801k-850k 1 2 0.3 3
851k-900k 3 1 0.5 0
951k-1m 1 0.2 0
1m-1.1m 2 0.3 0

Condos 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
176k-200k 1 0
201k-225k 1 2 0.3 3
301k-325k 1 2 0.3 3
326k-350k 1 2 0.3 3
351k-375k 3 0.5 0
376k-400k 1 1 0.2 6
401k-425k 1 4 1 0.7 1.5
426k-450k 3 0.5 0
451k-475k 1 0
476k-500k 3 0.5 0
501k-550k 1 0
551k-600k 1 0
751k-800k 1 0
851k-900k 2 0
1.3m-1.4m 1 0
1.4m-1.5m 1 0
2.75m-3m 1 0

Land 12% 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 6 4 1 0.1 9
26k-50k 16 9 0.1 10.7
51k-75k 8 5 1 0.1 9.6
76k-100k 7 8 0.2 5.3
101k-125k 6 4 0.1 9
126k-150k 9 3 0.1 18
151k-175k 17 3 0 34
176k-200k 3 8 2 0.4 2.3
201k-225k 9 7 0.1 7.7
226k-250k 10 8 2 0.1 7.5
251k-275k 5 3 2 0.1 10
276k-300k 9 3 1 0.1 18
301k-325k 4 4 0.2 6
326k-350k 9 2 0 27
351k-375k 3 0
376k-400k 1 6 1 1
401k-425k 2 0
426k-450k 5 1 1 0 30
451k-475k 2 0
476k-500k 6 0
501k-550k 6 1 0 36
551k-600k 7 1 1 0 42
601k-650k 3 2 1 0.1 9
651k-700k 9 1 0 54
701k-750k 5 0
751k-800k 6 0
801k-850k 1 0
851k-900k 2 1 0.1 12
901k-950k 2 0
951k-1m 3 1 0.1 18
1m-1.1m 1 0
1.2m-1.3m 2 1 0.1 12
1.3m-1.4m 4 2 0.1 12
1.4m-1.5m 5 1 0 30
1.5m-1.6m 1 0
1.6m-1.7m 2 0
1.7m-1.8m 2 0
1.8m-1.9m 1 1 0.2 6
1.9m-2m 3 0
2.25m-2.5m 1 0
2.75m-3m 1 0
3m-3.5m 4 0
3.5m-4m 3 0
4m-4.5m 1 0
4.5m-5m 1 1 0.2 6
5.01m-6m 2 0
6.01m-7m 2 0