Absorption Report

Mecklenburg County, New Construction

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 43% 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
251k-275k 1 0.2 0
276k-300k 5 0.8 0
301k-325k 4 15 0.6 1.6
326k-350k 9 25 4 0.5 2.2
351k-375k 19 48 11 0.4 2.4
376k-400k 29 138 18 0.8 1.3
401k-425k 17 46 10 0.5 2.2
426k-450k 13 63 8 0.8 1.2
451k-475k 9 36 8 0.7 1.5
476k-500k 15 37 2 0.4 2.4
501k-550k 30 52 12 0.3 3.5
551k-600k 27 43 11 0.3 3.8
601k-650k 23 21 5 0.2 6.6
651k-700k 25 31 9 0.2 4.8
701k-750k 12 20 6 0.3 3.6
751k-800k 12 25 5 0.3 2.9
801k-850k 11 13 4 0.2 5.1
851k-900k 6 4 1 0.1 9
901k-950k 5 4 2 0.1 7.5
951k-1m 5 3 1 0.1 10
1m-1.1m 4 10 3 0.4 2.4
1.1m-1.2m 3 19 2 1.1 0.9
1.2m-1.3m 2 10 0.8 1.2
1.3m-1.4m 6 8 0.2 4.5
1.4m-1.5m 6 6 1 0.2 6
1.5m-1.6m 10 10 2 0.2 6
1.6m-1.7m 6 5 2 0.1 7.2
1.7m-1.8m 11 5 2 0.1 13.2
1.8m-1.9m 4 4 2 0.2 6
1.9m-2m 12 2 0 36
2m-2.25m 8 7 0.1 6.9
2.25m-2.5m 4 1 0 24
2.5m-2.75m 5 3 0.1 10
2.75m-3m 2 4 3 0.3 3
3m-3.5m 3 7 1 0.4 2.6
3.5m-4m 3 3 1 0.2 6
4m-4.5m 3 3 1 0.2 6
4.5m-5m 1 0.2 0
5.01m-6m 1 0
6.01m-7m 1 1 0.2 6
7.01m-8m 1 0
18.01m-19m 1 0

Townhouses 41% 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
176k-200k 1 0.2 0
201k-225k 2 1 0.3 0
226k-250k 1 0.2 0
251k-275k 11 1.8 0
276k-300k 11 14 6 0.2 4.7
301k-325k 5 36 4 1.2 0.8
326k-350k 26 78 17 0.5 2
351k-375k 29 58 10 0.3 3
376k-400k 19 57 8 0.5 2
401k-425k 22 53 9 0.4 2.5
426k-450k 32 40 3 0.2 4.8
451k-475k 21 31 6 0.2 4.1
476k-500k 12 27 8 0.4 2.7
501k-550k 39 38 9 0.2 6.2
551k-600k 38 49 8 0.2 4.7
601k-650k 23 24 2 0.2 5.8
651k-700k 10 7 0.1 8.6
701k-750k 9 14 2 0.3 3.9
751k-800k 10 4 1 0.1 15
801k-850k 2 2 0.2 6
851k-900k 6 0
901k-950k 5 0
951k-1m 3 5 4 0.3 3.6
1m-1.1m 2 2 0.2 6
1.1m-1.2m 5 4 0.1 7.5
1.2m-1.3m 2 3 2 0.3 4
1.3m-1.4m 3 0.5 0
1.4m-1.5m 1 1 0.2 6
1.5m-1.6m 1 0.2 0
1.6m-1.7m 2 0.3 0
1.7m-1.8m 2 0.3 0
1.9m-2m 1 0.2 0
2m-2.25m 1 0
3m-3.5m 1 1 0.2 0

Condos 19% 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 1 0.2 0
176k-200k 1 0.2 0
201k-225k 1 0
226k-250k 1 0.2 0
276k-300k 2 2 0.2 6
351k-375k 1 0
376k-400k 2 0
401k-425k 3 0
451k-475k 1 1 0.2 6
476k-500k 1 0
501k-550k 2 0
551k-600k 1 1 0.2 6
1.5m-1.6m 1 0.2 0
1.9m-2m 1 2 0.3 3
2m-2.25m 2 1 0.1 12
2.25m-2.5m 1 1 0.2 6
2.75m-3m 2 0
3.5m-4m 2 1 0.1 12