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 4 0.7 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 20 0.8 1.3
251k-275k 27 113 12 0.7 1.4
276k-300k 63 221 40 0.6 1.7
301k-325k 74 256 38 0.6 1.7
326k-350k 110 322 50 0.5 2
351k-375k 131 288 40 0.4 2.7
376k-400k 133 415 58 0.5 1.9
401k-425k 100 264 45 0.4 2.3
426k-450k 97 275 36 0.5 2.1
451k-475k 61 213 36 0.6 1.7
476k-500k 86 219 47 0.4 2.4
501k-550k 132 335 42 0.4 2.4
551k-600k 105 350 59 0.6 1.8
601k-650k 95 288 36 0.5 2
651k-700k 93 228 40 0.4 2.4
701k-750k 56 194 29 0.6 1.7
751k-800k 62 156 18 0.4 2.4
801k-850k 43 133 19 0.5 1.9
851k-900k 34 109 18 0.5 1.9
901k-950k 25 88 8 0.6 1.7
951k-1m 27 77 13 0.5 2.1
1m-1.1m 20 97 17 0.8 1.2
1.1m-1.2m 19 92 14 0.8 1.2
1.2m-1.3m 15 86 11 1 1
1.3m-1.4m 18 48 7 0.4 2.3
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 25 4 0.2 4.6
1.8m-1.9m 10 22 2 0.4 2.7
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 1 0.3 3.4
2.5m-2.75m 8 18 1 0.4 2.7
2.75m-3m 3 13 6 0.7 1.4
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 47 6 0.4 2.6
251k-275k 32 91 12 0.5 2.1
276k-300k 44 98 15 0.4 2.7
301k-325k 24 104 11 0.7 1.4
326k-350k 49 145 28 0.5 2
351k-375k 57 114 18 0.3 3
376k-400k 34 95 14 0.5 2.1
401k-425k 41 99 12 0.4 2.5
426k-450k 53 93 12 0.3 3.4
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 88 14 0.3 4
601k-650k 38 47 6 0.2 4.9
651k-700k 23 30 2 0.2 4.6
701k-750k 21 42 3 0.3 3
751k-800k 19 18 3 0.2 6.3
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 1 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 7 0.2 5.2
201k-225k 24 34 3 0.2 4.2
226k-250k 35 46 7 0.2 4.6
251k-275k 31 57 7 0.3 3.3
276k-300k 32 76 18 0.4 2.5
301k-325k 25 50 3 0.3 3
326k-350k 15 52 9 0.6 1.7
351k-375k 18 53 9 0.5 2
376k-400k 15 29 6 0.3 3.1
401k-425k 21 37 7 0.3 3.4
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 11 29 10 0.4 2.3
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 1 1 0.2 6
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 2 1 0.3 3
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 16 4 0 24
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