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 25 107 20 0.7 1.4
251k-275k 28 114 13 0.7 1.5
276k-300k 53 226 46 0.7 1.4
301k-325k 75 256 36 0.6 1.8
326k-350k 107 324 51 0.5 2
351k-375k 130 286 39 0.4 2.7
376k-400k 137 415 58 0.5 2
401k-425k 100 268 49 0.4 2.2
426k-450k 101 276 35 0.5 2.2
451k-475k 60 214 37 0.6 1.7
476k-500k 86 223 50 0.4 2.3
501k-550k 130 332 43 0.4 2.3
551k-600k 103 347 57 0.6 1.8
601k-650k 96 284 35 0.5 2
651k-700k 91 230 39 0.4 2.4
701k-750k 57 194 29 0.6 1.8
751k-800k 62 154 18 0.4 2.4
801k-850k 43 131 19 0.5 2
851k-900k 35 107 18 0.5 2
901k-950k 23 87 9 0.6 1.6
951k-1m 27 79 14 0.5 2.1
1m-1.1m 20 96 18 0.8 1.3
1.1m-1.2m 19 90 13 0.8 1.3
1.2m-1.3m 14 85 11 1 1
1.3m-1.4m 18 47 6 0.4 2.3
1.4m-1.5m 20 39 7 0.3 3.1
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 25 5 0.2 4.6
1.8m-1.9m 10 22 2 0.4 2.7
1.9m-2m 21 23 2 0.2 5.5
2m-2.25m 15 36 6 0.4 2.5
2.25m-2.5m 12 23 1 0.3 3.1
2.5m-2.75m 8 18 1 0.4 2.7
2.75m-3m 3 14 7 0.8 1.3
3m-3.5m 16 18 3 0.2 5.3
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 1 0.5 2
176k-200k 7 5 0.1 8.4
201k-225k 6 28 6 0.8 1.3
226k-250k 20 46 6 0.4 2.6
251k-275k 32 92 13 0.5 2.1
276k-300k 46 98 15 0.4 2.8
301k-325k 25 105 11 0.7 1.4
326k-350k 48 143 28 0.5 2
351k-375k 57 114 17 0.3 3
376k-400k 35 93 11 0.4 2.3
401k-425k 41 100 12 0.4 2.5
426k-450k 55 92 12 0.3 3.6
451k-475k 34 66 14 0.3 3.1
476k-500k 27 55 14 0.3 2.9
501k-550k 57 86 14 0.3 4
551k-600k 59 87 14 0.2 4.1
601k-650k 36 46 6 0.2 4.7
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 38 7 0.2 5.4
201k-225k 25 34 3 0.2 4.4
226k-250k 37 45 6 0.2 4.9
251k-275k 29 56 8 0.3 3.1
276k-300k 32 76 18 0.4 2.5
301k-325k 25 50 3 0.3 3
326k-350k 14 53 9 0.6 1.6
351k-375k 19 53 9 0.5 2.2
376k-400k 15 30 6 0.3 3
401k-425k 22 36 6 0.3 3.7
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 27 3 0.5 2
551k-600k 11 29 9 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