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 14 2 0.8 1.3
276k-300k 7 35 5 0.8 1.2
301k-325k 18 53 9 0.5 2
326k-350k 26 88 15 0.6 1.8
351k-375k 27 99 5 0.6 1.6
376k-400k 38 129 20 0.6 1.8
401k-425k 42 144 22 0.6 1.8
426k-450k 48 143 15 0.5 2
451k-475k 38 97 15 0.4 2.4
476k-500k 50 98 11 0.3 3.1
501k-550k 93 171 29 0.3 3.3
551k-600k 61 134 21 0.4 2.7
601k-650k 70 114 18 0.3 3.7
651k-700k 65 112 14 0.3 3.5
701k-750k 36 68 4 0.3 3.2
751k-800k 40 49 3 0.2 4.9
801k-850k 29 45 3 0.3 3.9
851k-900k 31 35 2 0.2 5.3
901k-950k 17 24 3 0.2 4.3
951k-1m 19 19 1 0.2 6
1m-1.1m 13 20 2 0.3 3.9
1.1m-1.2m 14 20 3 0.2 4.2
1.2m-1.3m 12 7 2 0.1 10.3
1.3m-1.4m 8 15 3 0.3 3.2
1.4m-1.5m 7 8 3 0.2 5.3
1.5m-1.6m 12 6 0.1 12
1.6m-1.7m 4 6 2 0.3 4
1.7m-1.8m 2 4 0.3 3
1.8m-1.9m 3 1 0.1 18
1.9m-2m 5 1 1 0 30
2m-2.25m 4 5 0.2 4.8
2.25m-2.5m 11 5 2 0.1 13.2
2.5m-2.75m 7 1 0 42
2.75m-3m 4 0
3m-3.5m 4 0
3.5m-4m 4 0
4m-4.5m 1 0.2 0
4.5m-5m 1 0
5.01m-6m 2 0

Townhouses 24% 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 12 24 2 0.3 3
351k-375k 9 20 3 0.4 2.7
376k-400k 7 16 2 0.4 2.6
401k-425k 8 13 0.3 3.7
426k-450k 14 11 1 0.1 7.6
451k-475k 9 7 1 0.1 7.7
476k-500k 5 13 1 0.4 2.3
501k-550k 6 12 3 0.3 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 1 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 1 0.3 3
326k-350k 1 2 0.3 3
351k-375k 3 0.5 0
376k-400k 1 2 0.3 3
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 10 0.1 9.6
51k-75k 9 5 1 0.1 10.8
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 8 7 0.1 6.9
226k-250k 10 8 3 0.1 7.5
251k-275k 6 2 1 0.1 18
276k-300k 9 3 1 0.1 18
301k-325k 4 4 1 0.2 6
326k-350k 9 2 1 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 3 0
476k-500k 7 0
501k-550k 7 1 0 42
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