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 35% 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 2 0.3 0
126k-150k 2 0.3 0
176k-200k 1 4 0.7 1.5
201k-225k 10 1.7 0
226k-250k 4 16 5 0.7 1.5
251k-275k 1 8 1 1.3 0.8
276k-300k 9 26 10 0.5 2.1
301k-325k 6 19 4 0.5 1.9
326k-350k 8 21 7 0.4 2.3
351k-375k 12 40 8 0.6 1.8
376k-400k 12 45 10 0.6 1.6
401k-425k 14 26 4 0.3 3.2
426k-450k 17 46 17 0.5 2.2
451k-475k 15 22 2 0.2 4.1
476k-500k 24 27 3 0.2 5.3
501k-550k 42 48 13 0.2 5.3
551k-600k 38 55 12 0.2 4.1
601k-650k 24 33 8 0.2 4.4
651k-700k 22 25 7 0.2 5.3
701k-750k 12 18 8 0.3 4
751k-800k 13 15 6 0.2 5.2
801k-850k 9 13 0.2 4.2
851k-900k 12 14 7 0.2 5.1
901k-950k 8 7 3 0.1 6.9
951k-1m 8 11 2 0.2 4.4
1m-1.1m 8 12 3 0.3 4
1.1m-1.2m 8 9 3 0.2 5.3
1.2m-1.3m 5 11 4 0.4 2.7
1.3m-1.4m 6 9 2 0.3 4
1.4m-1.5m 8 11 5 0.2 4.4
1.5m-1.6m 9 7 1 0.1 7.7
1.6m-1.7m 5 6 1 0.2 5
1.7m-1.8m 3 3 2 0.2 6
1.8m-1.9m 4 11 2 0.5 2.2
1.9m-2m 8 2 1 0 24
2m-2.25m 1 9 2 1.5 0.7
2.25m-2.5m 9 4 1 0.1 13.5
2.5m-2.75m 3 0.5 0
2.75m-3m 3 7 1 0.4 2.6
3m-3.5m 9 2 1 0 27
3.5m-4m 2 3 2 0.3 4
4m-4.5m 5 3 1 0.1 10
4.5m-5m 1 0.2 0
5.01m-6m 3 1 1 0.1 18
6.01m-7m 1 0
7.01m-8m 2 0
9.01m-10m 1 0
11.01m-12m 1 0

Townhouses 20% 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 5 2 0.8 0
251k-275k 4 6 0.3 4
276k-300k 3 4 1 0.2 4.5
301k-325k 7 11 2 0.3 3.8
326k-350k 6 3 1 0.1 12
351k-375k 8 4 1 0.1 12
376k-400k 9 9 0.2 6
401k-425k 5 6 2 0.2 5
426k-450k 12 1 0 72
451k-475k 1 2 0.3 3
476k-500k 3 1 0.5 0
501k-550k 1 1 0.2 0
551k-600k 1 1 0.2 6

Condos 10% 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
151k-175k 1 0.2 0
176k-200k 1 0.2 0
226k-250k 2 0
251k-275k 1 2 1 0.3 3
276k-300k 1 0
301k-325k 1 0.2 0
351k-375k 1 0
376k-400k 1 0.2 0
476k-500k 1 0
501k-550k 2 0.3 0
701k-750k 2 0
1.9m-2m 1 0.2 0
2.25m-2.5m 1 0

Land 15% 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 3 0.5 0
26k-50k 1 2 2 0.3 3
51k-75k 1 3 0.5 2
76k-100k 6 5 1 0.1 7.2
101k-125k 2 5 0.4 2.4
126k-150k 4 5 0.2 4.8
151k-175k 4 4 1 0.2 6
176k-200k 6 1 0 36
201k-225k 3 3 2 0.2 6
226k-250k 6 8 1 0.2 4.5
251k-275k 5 0
276k-300k 5 1 0 30
301k-325k 2 0
326k-350k 3 2 0.1 9
351k-375k 1 1 1 0.2 6
376k-400k 3 1 0.1 18
401k-425k 2 0
426k-450k 2 0
451k-475k 1 0.2 0
476k-500k 2 0
501k-550k 1 1 0.2 0
601k-650k 1 0
651k-700k 2 0
701k-750k 1 3 1 0.5 2
751k-800k 7 1 0 42
801k-850k 3 1 0.1 18
851k-900k 4 0
951k-1m 4 0
1m-1.1m 1 1 0.2 6
1.1m-1.2m 1 0
1.2m-1.3m 1 0
1.3m-1.4m 2 1 1 0.1 12
1.4m-1.5m 2 1 0.1 12
1.6m-1.7m 1 0
1.7m-1.8m 1 0
1.8m-1.9m 1 0.2 0
1.9m-2m 1 0
2m-2.25m 2 0
2.75m-3m 1 1 0.2 6
4.5m-5m 1 0
5.01m-6m 1 0