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 29% 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
51k-75k 1 0.2 0
76k-100k 1 2 0.3 3
101k-125k 2 0
126k-150k 1 1 0.2 6
151k-175k 1 6 1 1 1
176k-200k 3 11 2 0.6 1.6
201k-225k 3 7 2 0.4 2.6
226k-250k 4 18 4 0.8 1.3
251k-275k 10 26 2 0.4 2.3
276k-300k 19 39 8 0.3 2.9
301k-325k 13 31 2 0.4 2.5
326k-350k 28 54 6 0.3 3.1
351k-375k 25 44 12 0.3 3.4
376k-400k 23 37 7 0.3 3.7
401k-425k 10 28 5 0.5 2.1
426k-450k 11 16 1 0.2 4.1
451k-475k 12 13 2 0.2 5.5
476k-500k 14 12 2 0.1 7
501k-550k 11 19 1 0.3 3.5
551k-600k 9 15 2 0.3 3.6
601k-650k 10 7 2 0.1 8.6
651k-700k 4 7 1 0.3 3.4
701k-750k 2 7 1 0.6 1.7
751k-800k 2 3 1 0.3 4
801k-850k 4 0
901k-950k 1 0
951k-1m 1 1 0.2 0
1m-1.1m 1 1 0.2 6
1.1m-1.2m 1 0.2 0
1.2m-1.3m 1 0.2 0
1.3m-1.4m 1 0
1.4m-1.5m 1 0.2 0
1.5m-1.6m 4 0
1.6m-1.7m 1 0
1.7m-1.8m 1 0
2m-2.25m 1 0
2.25m-2.5m 1 0
2.75m-3m 1 0

Townhouses 39% 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
151k-175k 1 0.2 0
176k-200k 1 3 0.5 2
201k-225k 3 9 1 0.5 2
226k-250k 4 3 0.1 8
251k-275k 4 11 3 0.5 2.2
276k-300k 2 10 2 0.8 1.2
301k-325k 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
226k-250k 2 3 1 0.3 4
251k-275k 2 0.3 0
276k-300k 2 3 1 0.3 4

Land 12% 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 1 0.5 0
26k-50k 4 1 0 24
51k-75k 24 5 0 28.8
76k-100k 3 2 1 0.1 9
101k-125k 1 2 1 0.3 3
126k-150k 1 2 0.3 3
151k-175k 4 1 0 24
176k-200k 2 2 1 0.2 6
201k-225k 3 0
226k-250k 3 2 2 0.1 9
251k-275k 1 0.2 0
276k-300k 2 1 1 0.1 12
326k-350k 1 1 0.2 6
351k-375k 2 1 0.1 12
426k-450k 1 0
601k-650k 1 0.2 0
651k-700k 1 0
701k-750k 2 1 0.1 12
751k-800k 1 0.2 0
851k-900k 1 0
951k-1m 1 1 0.2 6
1m-1.1m 1 0
1.1m-1.2m 3 2 1 0.1 9
1.4m-1.5m 1 0
1.9m-2m 1 0
2.75m-3m 1 0
4m-4.5m 1 0