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 23 108 21 0.8 1.3
251k-275k 27 115 12 0.7 1.4
276k-300k 63 222 39 0.6 1.7
301k-325k 76 256 38 0.6 1.8
326k-350k 110 321 51 0.5 2.1
351k-375k 131 290 44 0.4 2.7
376k-400k 133 416 59 0.5 1.9
401k-425k 100 264 50 0.4 2.3
426k-450k 95 276 37 0.5 2.1
451k-475k 62 214 35 0.6 1.7
476k-500k 87 223 48 0.4 2.3
501k-550k 132 338 44 0.4 2.3
551k-600k 104 352 62 0.6 1.8
601k-650k 96 290 36 0.5 2
651k-700k 93 231 40 0.4 2.4
701k-750k 56 195 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 27 77 15 0.5 2.1
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 20 41 7 0.3 2.9
1.5m-1.6m 17 45 4 0.4 2.3
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 3 14 6 0.8 1.3
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 32 91 12 0.5 2.1
276k-300k 44 99 16 0.4 2.7
301k-325k 24 105 11 0.7 1.4
326k-350k 49 146 28 0.5 2
351k-375k 57 115 19 0.3 3
376k-400k 34 97 14 0.5 2.1
401k-425k 41 100 12 0.4 2.5
426k-450k 53 96 13 0.3 3.3
451k-475k 31 66 15 0.4 2.8
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 19 8 1 0.1 14.3
151k-175k 12 28 3 0.4 2.6
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 31 57 7 0.3 3.3
276k-300k 32 76 19 0.4 2.5
301k-325k 25 51 3 0.3 2.9
326k-350k 15 54 9 0.6 1.7
351k-375k 19 52 8 0.5 2.2
376k-400k 15 29 7 0.3 3.1
401k-425k 21 38 7 0.3 3.3
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 9 2 0.1 8.7
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 6 2 1 0.1 18
1.5m-1.6m 2 2 0.2 6
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