Supply & Demand in Mooresville, NC

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 33% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months 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
101k-125k 1 1 0.2 0
126k-150k 1 0.2 0
176k-200k 6 4 1 0
201k-225k 3 9 2 0.5 2
226k-250k 2 19 4 1.6 0.6
251k-275k 1 10 2 1.7 0.6
276k-300k 7 21 1 0.5 2
301k-325k 7 22 5 0.5 1.9
326k-350k 8 25 3 0.5 1.9
351k-375k 10 38 9 0.6 1.6
376k-400k 20 57 14 0.5 2.1
401k-425k 16 29 6 0.3 3.3
426k-450k 20 46 9 0.4 2.6
451k-475k 21 27 5 0.2 4.7
476k-500k 27 44 13 0.3 3.7
501k-550k 43 57 6 0.2 4.5
551k-600k 40 60 14 0.3 4
601k-650k 34 38 6 0.2 5.4
651k-700k 22 25 4 0.2 5.3
701k-750k 18 24 4 0.2 4.5
751k-800k 15 13 2 0.1 6.9
801k-850k 18 13 0.1 8.3
851k-900k 10 18 7 0.3 3.3
901k-950k 8 8 1 0.2 6
951k-1m 10 14 5 0.2 4.3
1m-1.1m 12 13 1 0.2 5.5
1.1m-1.2m 10 12 2 0.2 5
1.2m-1.3m 6 15 3 0.4 2.4
1.3m-1.4m 14 8 0.1 10.5
1.4m-1.5m 3 12 3 0.7 1.5
1.5m-1.6m 7 9 1 0.2 4.7
1.6m-1.7m 8 2 0 24
1.7m-1.8m 3 3 1 0.2 6
1.8m-1.9m 5 8 0.3 3.8
1.9m-2m 6 2 0.1 18
2m-2.25m 1 7 1 1.2 0.9
2.25m-2.5m 6 11 5 0.3 3.3
2.5m-2.75m 4 1 0.7 0
2.75m-3m 4 5 0.2 4.8
3m-3.5m 5 6 1 0.2 5
3.5m-4m 1 5 2 0.8 1.2
4m-4.5m 5 2 0.1 15
4.5m-5m 1 2 0.3 3
5.01m-6m 4 1 0 24
6.01m-7m 2 1 0.1 12
7.01m-8m 1 0
9.01m-10m 1 0
11.01m-12m 1 2 2 0.3 3

Townhouses 17% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months 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 3 0.5 0
201k-225k 1 0.2 0
226k-250k 1 6 3 1 1
251k-275k 4 8 1 0.3 3
276k-300k 4 4 1 0.2 6
301k-325k 6 11 0.3 3.3
326k-350k 16 6 2 0.1 16
351k-375k 4 4 1 0.2 6
376k-400k 6 8 1 0.2 4.5
401k-425k 4 6 0.3 4
426k-450k 12 1 0 72
451k-475k 3 2 0.5 0
476k-500k 1 2 0.3 3
501k-550k 1 1 0.2 6
551k-600k 1 1 0.2 6

Condos 36% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months 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
226k-250k 2 3 1 0.3 4
251k-275k 1 0.2 0
276k-300k 2 1 0.1 12
301k-325k 1 1 0.2 6
326k-350k 1 1 0.2 0
351k-375k 1 1 1 0.2 6
376k-400k 1 1 0.2 6
476k-500k 1 0
501k-550k 1 0.2 0
701k-750k 1 1 0.2 6
2.25m-2.5m 1 1 0.2 0

Land 18% of available homes are currently under contract

List Price Available # of Homes Available Sold Last 6 Months 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 0.5 2
26k-50k 2 0.3 0
51k-75k 3 1 0.5 0
76k-100k 4 6 2 0.3 4
101k-125k 2 3 0.3 4
126k-150k 4 4 0.2 6
151k-175k 5 5 0.2 6
176k-200k 7 1 0 42
201k-225k 2 2 0.2 6
226k-250k 6 5 0.1 7.2
251k-275k 5 0
276k-300k 7 1 0 42
301k-325k 3 0
326k-350k 1 1 0.2 6
351k-375k 2 1 0.3 0
376k-400k 5 1 1 0 30
401k-425k 2 0
426k-450k 2 0
476k-500k 2 0
501k-550k 1 1 0.2 6
601k-650k 1 1 0.2 0
651k-700k 2 0
701k-750k 1 3 0.5 2
751k-800k 7 1 0 42
801k-850k 1 1 0.2 6
851k-900k 3 0
951k-1m 3 1 1 0.1 18
1.1m-1.2m 1 0
1.2m-1.3m 1 0
1.3m-1.4m 2 1 0.1 12
1.4m-1.5m 1 2 0.3 3
1.6m-1.7m 1 0.2 0
1.7m-1.8m 1 0
1.9m-2m 1 0
2m-2.25m 2 1 0.1 12
2.75m-3m 1 1 0.2 6
4.5m-5m 1 0
5.01m-6m 1 0