Absorption Report

Mecklenburg 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 40% 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 1 0.2 6
76k-100k 1 0.2 0
101k-125k 1 1 0.2 0
126k-150k 5 0.8 0
151k-175k 19 6 3.2 0
176k-200k 8 35 11 0.7 1.4
201k-225k 11 42 5 0.6 1.6
226k-250k 22 108 21 0.8 1.2
251k-275k 28 114 11 0.7 1.5
276k-300k 63 221 38 0.6 1.7
301k-325k 76 256 38 0.6 1.8
326k-350k 109 321 51 0.5 2
351k-375k 131 290 43 0.4 2.7
376k-400k 135 413 57 0.5 2
401k-425k 99 264 50 0.4 2.3
426k-450k 96 275 36 0.5 2.1
451k-475k 62 214 35 0.6 1.7
476k-500k 90 222 47 0.4 2.4
501k-550k 132 338 44 0.4 2.3
551k-600k 104 352 62 0.6 1.8
601k-650k 97 289 35 0.5 2
651k-700k 93 232 39 0.4 2.4
701k-750k 56 193 32 0.6 1.7
751k-800k 62 157 20 0.4 2.4
801k-850k 43 134 19 0.5 1.9
851k-900k 34 109 18 0.5 1.9
901k-950k 25 89 8 0.6 1.7
951k-1m 28 76 14 0.5 2.2
1m-1.1m 20 98 17 0.8 1.2
1.1m-1.2m 19 92 14 0.8 1.2
1.2m-1.3m 16 86 13 0.9 1.1
1.3m-1.4m 18 49 7 0.5 2.2
1.4m-1.5m 19 41 7 0.4 2.8
1.5m-1.6m 18 45 4 0.4 2.4
1.6m-1.7m 10 35 4 0.6 1.7
1.7m-1.8m 19 26 4 0.2 4.4
1.8m-1.9m 10 23 3 0.4 2.6
1.9m-2m 21 23 3 0.2 5.5
2m-2.25m 12 36 6 0.5 2
2.25m-2.5m 13 23 2 0.3 3.4
2.5m-2.75m 8 18 1 0.4 2.7
2.75m-3m 4 14 6 0.6 1.7
3m-3.5m 14 19 4 0.2 4.4
3.5m-4m 9 10 3 0.2 5.4
4m-4.5m 4 10 2 0.4 2.4
4.5m-5m 2 5 1 0.4 2.4
5.01m-6m 7 3 0.1 14
6.01m-7m 5 3 0.1 10
7.01m-8m 1 1 0.2 6
8.01m-9m 2 1 0.1 12
9.01m-10m 1 0
10.01m-11m 1 0
11.01m-12m 1 0.2 0
13.01m-14m 3 0
14.01m-15m 1 0
15.01m-16m 1 0
18.01m-19m 1 0

Townhouses 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
151k-175k 2 6 2 0.5 2
176k-200k 7 5 0.1 8.4
201k-225k 7 27 5 0.6 1.6
226k-250k 20 48 6 0.4 2.5
251k-275k 31 91 12 0.5 2
276k-300k 44 99 16 0.4 2.7
301k-325k 24 105 11 0.7 1.4
326k-350k 49 147 28 0.5 2
351k-375k 57 114 19 0.3 3
376k-400k 35 96 13 0.5 2.2
401k-425k 39 100 12 0.4 2.3
426k-450k 55 96 13 0.3 3.4
451k-475k 32 66 15 0.3 2.9
476k-500k 24 56 13 0.4 2.6
501k-550k 56 86 14 0.3 3.9
551k-600k 58 89 14 0.3 3.9
601k-650k 38 47 6 0.2 4.9
651k-700k 23 30 2 0.2 4.6
701k-750k 21 43 3 0.3 2.9
751k-800k 19 19 3 0.2 6
801k-850k 6 11 2 0.3 3.3
851k-900k 8 10 0.2 4.8
901k-950k 7 3 0.1 14
951k-1m 3 13 4 0.7 1.4
1m-1.1m 5 5 0.2 6
1.1m-1.2m 5 6 0.2 5
1.2m-1.3m 4 4 2 0.2 6
1.3m-1.4m 2 5 1 0.4 2.4
1.4m-1.5m 2 2 0.2 6
1.5m-1.6m 1 1 0.2 6
1.6m-1.7m 3 0.5 0
1.7m-1.8m 1 2 0.3 3
1.8m-1.9m 1 0
1.9m-2m 2 0.3 0
2m-2.25m 1 0
2.25m-2.5m 2 0.3 0
3m-3.5m 1 1 0.2 0

Condos 26% 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 2 11 1 0.9 1.1
126k-150k 18 8 1 0.1 13.5
151k-175k 13 28 3 0.4 2.8
176k-200k 34 39 8 0.2 5.2
201k-225k 24 35 4 0.2 4.1
226k-250k 35 46 7 0.2 4.6
251k-275k 30 57 7 0.3 3.2
276k-300k 33 76 19 0.4 2.6
301k-325k 25 51 3 0.3 2.9
326k-350k 15 54 9 0.6 1.7
351k-375k 18 53 9 0.5 2
376k-400k 15 29 7 0.3 3.1
401k-425k 20 38 7 0.3 3.2
426k-450k 13 23 3 0.3 3.4
451k-475k 12 26 3 0.4 2.8
476k-500k 10 8 2 0.1 7.5
501k-550k 9 28 3 0.5 1.9
551k-600k 12 28 9 0.4 2.6
601k-650k 12 20 1 0.3 3.6
651k-700k 4 8 0.3 3
701k-750k 4 8 0.3 3
751k-800k 7 4 1 0.1 10.5
801k-850k 1 4 2 0.7 1.5
851k-900k 1 2 0.3 3
901k-950k 3 2 0.1 9
951k-1m 2 0.3 0
1m-1.1m 2 5 3 0.4 2.4
1.1m-1.2m 3 2 0.1 9
1.2m-1.3m 2 1 0.3 0
1.3m-1.4m 1 2 0.3 3
1.4m-1.5m 2 1 0.1 12
1.5m-1.6m 1 4 0.7 1.5
1.6m-1.7m 2 2 0.2 6
1.7m-1.8m 1 3 1 0.5 2
1.8m-1.9m 1 0.2 0
1.9m-2m 4 3 0.1 8
2m-2.25m 5 1 0 30
2.25m-2.5m 1 4 1 0.7 1.5
2.75m-3m 2 0
3m-3.5m 1 0
3.5m-4m 2 1 0.1 12
4.5m-5m 1 0

Land 22% 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 1 3 1 0.5 2
26k-50k 4 9 1 0.4 2.7
51k-75k 8 9 3 0.2 5.3
76k-100k 13 15 3 0.2 5.2
101k-125k 8 7 2 0.1 6.9
126k-150k 10 15 3 0.3 4
151k-175k 9 4 1 0.1 13.5
176k-200k 13 10 2 0.1 7.8
201k-225k 7 6 2 0.1 7
226k-250k 9 7 1 0.1 7.7
251k-275k 9 4 2 0.1 13.5
276k-300k 15 4 0 22.5
301k-325k 4 3 0.1 8
326k-350k 5 4 1 0.1 7.5
351k-375k 4 2 0.1 12
376k-400k 14 8 2 0.1 10.5
401k-425k 2 3 1 0.3 4
426k-450k 8 1 0 48
451k-475k 3 2 0.1 9
476k-500k 7 3 1 0.1 14
501k-550k 4 2 1 0.1 12
551k-600k 10 7 1 0.1 8.6
601k-650k 11 3 1 0 22
651k-700k 14 3 0 28
701k-750k 4 5 1 0.2 4.8
751k-800k 6 1 1 0 36
801k-850k 4 2 1 0.1 12
851k-900k 6 1 0 36
901k-950k 2 2 0.2 6
951k-1m 6 3 0.1 12
1m-1.1m 2 3 0.3 4
1.1m-1.2m 7 3 0.1 14
1.2m-1.3m 2 2 0.2 6
1.3m-1.4m 3 1 0.1 18
1.4m-1.5m 5 2 1 0.1 15
1.5m-1.6m 3 2 0.1 9
1.6m-1.7m 1 0
1.7m-1.8m 4 1 0 24
1.8m-1.9m 4 0
1.9m-2m 4 3 1 0.1 8
2m-2.25m 3 1 1 0.1 18
2.25m-2.5m 6 5 2 0.1 7.2
2.5m-2.75m 1 0
2.75m-3m 2 1 1 0.1 12
3m-3.5m 3 1 0.1 18
3.5m-4m 6 1 1 0 36
4m-4.5m 1 1 1 0.2 6
4.5m-5m 2 0
5.01m-6m 1 0
14.01m-15m 1 0