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 25 108 20 0.7 1.4
251k-275k 27 115 13 0.7 1.4
276k-300k 57 223 43 0.7 1.5
301k-325k 74 258 39 0.6 1.7
326k-350k 107 323 53 0.5 2
351k-375k 132 288 40 0.4 2.8
376k-400k 137 417 61 0.5 2
401k-425k 100 269 49 0.4 2.2
426k-450k 101 277 37 0.5 2.2
451k-475k 61 213 36 0.6 1.7
476k-500k 84 222 50 0.4 2.3
501k-550k 132 335 43 0.4 2.4
551k-600k 105 350 59 0.6 1.8
601k-650k 95 288 36 0.5 2
651k-700k 93 229 41 0.4 2.4
701k-750k 57 195 29 0.6 1.8
751k-800k 61 155 18 0.4 2.4
801k-850k 43 133 19 0.5 1.9
851k-900k 35 110 19 0.5 1.9
901k-950k 24 88 8 0.6 1.6
951k-1m 27 77 13 0.5 2.1
1m-1.1m 20 98 18 0.8 1.2
1.1m-1.2m 19 91 13 0.8 1.3
1.2m-1.3m 14 86 12 1 1
1.3m-1.4m 18 47 6 0.4 2.3
1.4m-1.5m 20 40 7 0.3 3
1.5m-1.6m 17 46 4 0.5 2.2
1.6m-1.7m 10 35 4 0.6 1.7
1.7m-1.8m 19 26 5 0.2 4.4
1.8m-1.9m 10 22 2 0.4 2.7
1.9m-2m 21 23 3 0.2 5.5
2m-2.25m 13 36 6 0.5 2.2
2.25m-2.5m 14 23 1 0.3 3.7
2.5m-2.75m 8 18 1 0.4 2.7
2.75m-3m 3 14 7 0.8 1.3
3m-3.5m 15 19 4 0.2 4.7
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 35% 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 6 28 6 0.8 1.3
226k-250k 20 47 6 0.4 2.6
251k-275k 33 91 12 0.5 2.2
276k-300k 45 98 15 0.4 2.8
301k-325k 24 105 12 0.7 1.4
326k-350k 49 145 28 0.5 2
351k-375k 57 115 18 0.3 3
376k-400k 35 94 14 0.4 2.2
401k-425k 41 100 12 0.4 2.5
426k-450k 55 92 12 0.3 3.6
451k-475k 34 66 15 0.3 3.1
476k-500k 27 56 13 0.3 2.9
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 22 42 3 0.3 3.1
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 18 9 2 0.1 12
151k-175k 11 28 3 0.4 2.4
176k-200k 34 39 7 0.2 5.2
201k-225k 25 34 3 0.2 4.4
226k-250k 35 46 7 0.2 4.6
251k-275k 31 56 7 0.3 3.3
276k-300k 32 77 18 0.4 2.5
301k-325k 25 50 3 0.3 3
326k-350k 14 53 10 0.6 1.6
351k-375k 19 53 9 0.5 2.2
376k-400k 15 30 7 0.3 3
401k-425k 22 37 7 0.3 3.6
426k-450k 13 23 3 0.3 3.4
451k-475k 12 26 3 0.4 2.8
476k-500k 9 9 3 0.2 6
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 12 16 4 0.2 4.5
101k-125k 7 8 3 0.2 5.3
126k-150k 11 15 3 0.2 4.4
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 5 3 0.1 10
326k-350k 4 4 1 0.2 6
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 5 5 1 0.2 6
751k-800k 5 1 1 0 30
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