Supply & Demand in Charlotte, 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 40% 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
51k-75k 1 1 0.2 0
76k-100k 1 0.2 0
101k-125k 1 5 2 0.8 1.2
126k-150k 12 1 2 0
151k-175k 4 15 3 0.6 1.6
176k-200k 4 25 6 1 1
201k-225k 14 29 5 0.3 2.9
226k-250k 20 68 18 0.6 1.8
251k-275k 34 123 22 0.6 1.7
276k-300k 64 172 41 0.4 2.2
301k-325k 93 191 39 0.3 2.9
326k-350k 111 253 48 0.4 2.6
351k-375k 94 238 57 0.4 2.4
376k-400k 105 230 50 0.4 2.7
401k-425k 94 213 62 0.4 2.6
426k-450k 103 210 58 0.3 2.9
451k-475k 78 160 30 0.3 2.9
476k-500k 93 168 44 0.3 3.3
501k-550k 114 209 46 0.3 3.3
551k-600k 90 161 34 0.3 3.4
601k-650k 87 166 36 0.3 3.1
651k-700k 49 137 36 0.5 2.1
701k-750k 54 115 33 0.4 2.8
751k-800k 47 86 19 0.3 3.3
801k-850k 33 71 15 0.4 2.8
851k-900k 33 84 25 0.4 2.4
901k-950k 20 57 13 0.5 2.1
951k-1m 27 52 11 0.3 3.1
1m-1.1m 27 78 16 0.5 2.1
1.1m-1.2m 20 58 21 0.5 2.1
1.2m-1.3m 22 61 16 0.5 2.2
1.3m-1.4m 15 41 9 0.5 2.2
1.4m-1.5m 16 38 8 0.4 2.5
1.5m-1.6m 18 43 7 0.4 2.5
1.6m-1.7m 10 24 9 0.4 2.5
1.7m-1.8m 16 27 6 0.3 3.6
1.8m-1.9m 17 20 5 0.2 5.1
1.9m-2m 17 8 2 0.1 12.8
2m-2.25m 20 25 4 0.2 4.8
2.25m-2.5m 19 28 7 0.2 4.1
2.5m-2.75m 16 23 4 0.2 4.2
2.75m-3m 15 15 6 0.2 6
3m-3.5m 18 15 6 0.1 7.2
3.5m-4m 13 12 4 0.2 6.5
4m-4.5m 5 5 1 0.2 6
4.5m-5m 4 7 2 0.3 3.4
5.01m-6m 8 4 0.1 12
6.01m-7m 3 2 1 0.1 9
7.01m-8m 2 0.3 0

Townhouses 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
126k-150k 2 0.3 0
151k-175k 2 2 0.2 6
176k-200k 8 20 6 0.4 2.4
201k-225k 17 42 5 0.4 2.4
226k-250k 34 67 6 0.3 3
251k-275k 52 82 17 0.3 3.8
276k-300k 73 134 32 0.3 3.3
301k-325k 86 164 29 0.3 3.1
326k-350k 86 173 39 0.3 3
351k-375k 66 95 18 0.2 4.2
376k-400k 67 102 31 0.3 3.9
401k-425k 61 81 13 0.2 4.5
426k-450k 51 87 19 0.3 3.5
451k-475k 79 43 14 0.1 11
476k-500k 55 51 9 0.2 6.5
501k-550k 48 50 13 0.2 5.8
551k-600k 55 44 7 0.1 7.5
601k-650k 43 58 9 0.2 4.4
651k-700k 33 41 7 0.2 4.8
701k-750k 27 22 6 0.1 7.4
751k-800k 15 21 5 0.2 4.3
801k-850k 11 12 2 0.2 5.5
851k-900k 9 20 1 0.4 2.7
901k-950k 4 4 0.2 6
951k-1m 10 3 0.1 20
1m-1.1m 6 6 2 0.2 6
1.1m-1.2m 2 5 0.4 2.4
1.2m-1.3m 4 6 2 0.3 4
1.3m-1.4m 3 6 1 0.3 3
1.4m-1.5m 3 1 0.1 18
1.5m-1.6m 4 1 0 24
1.6m-1.7m 1 0.2 0
1.7m-1.8m 2 1 0.1 12
1.8m-1.9m 2 1 1 0.1 12
1.9m-2m 5 1 1 0 30
2m-2.25m 2 4 0.3 3
2.25m-2.5m 1 3 0.5 2
2.5m-2.75m 1 0
2.75m-3m 1 0

Condos 22% 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
76k-100k 1 0.2 0
101k-125k 9 23 1 0.4 2.3
126k-150k 18 22 6 0.2 4.9
151k-175k 24 24 4 0.2 6
176k-200k 49 37 10 0.1 7.9
201k-225k 35 36 6 0.2 5.8
226k-250k 46 25 11 0.1 11
251k-275k 32 41 11 0.2 4.7
276k-300k 56 46 13 0.1 7.3
301k-325k 39 34 7 0.1 6.9
326k-350k 30 27 5 0.2 6.7
351k-375k 19 17 3 0.1 6.7
376k-400k 19 46 10 0.4 2.5
401k-425k 16 19 4 0.2 5.1
426k-450k 15 17 5 0.2 5.3
451k-475k 10 11 4 0.2 5.5
476k-500k 15 15 5 0.2 6
501k-550k 14 17 1 0.2 4.9
551k-600k 12 15 4 0.2 4.8
601k-650k 6 13 4 0.4 2.8
651k-700k 7 8 0.2 5.3
701k-750k 4 4 2 0.2 6
751k-800k 6 6 3 0.2 6
801k-850k 4 1 0 24
851k-900k 3 1 1 0.1 18
901k-950k 1 1 0.2 6
951k-1m 4 0.7 0
1m-1.1m 2 0
1.1m-1.2m 2 3 0.3 4
1.2m-1.3m 3 4 1 0.2 4.5
1.3m-1.4m 2 2 0.2 6
1.4m-1.5m 2 1 0.1 12
1.5m-1.6m 1 0
1.7m-1.8m 1 1 0.2 6
1.8m-1.9m 2 0
1.9m-2m 2 0
2m-2.25m 2 4 0.3 3
2.25m-2.5m 2 2 0.2 6
2.5m-2.75m 2 1 0.1 12
2.75m-3m 5 0
3m-3.5m 2 1 0.1 12
3.5m-4m 2 0.3 0
4m-4.5m 1 1 0.2 6
4.5m-5m 1 0

Land 24% 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 0.2 0
26k-50k 5 5 0.2 6
51k-75k 9 15 4 0.3 3.6
76k-100k 13 13 6 0.2 6
101k-125k 15 19 4 0.2 4.7
126k-150k 17 15 5 0.1 6.8
151k-175k 13 6 1 0.1 13
176k-200k 22 5 3 0 26.4
201k-225k 10 3 1 0.1 20
226k-250k 8 6 0.1 8
251k-275k 6 2 1 0.1 18
276k-300k 11 5 2 0.1 13.2
301k-325k 2 1 0.1 12
326k-350k 8 4 0.1 12
351k-375k 4 3 0.1 8
376k-400k 10 1 0 60
401k-425k 4 2 0.1 12
426k-450k 2 5 0.4 2.4
451k-475k 2 2 0.2 6
476k-500k 7 2 1 0 21
501k-550k 7 4 2 0.1 10.5
551k-600k 3 3 0.2 6
601k-650k 3 7 0.4 2.6
651k-700k 4 3 0.1 8
701k-750k 4 1 0 24
751k-800k 5 0
801k-850k 2 0
851k-900k 3 3 1 0.2 6
901k-950k 4 0
951k-1m 2 0
1m-1.1m 4 2 1 0.1 12
1.1m-1.2m 6 1 1 0 36
1.2m-1.3m 4 1 0 24
1.3m-1.4m 2 1 0.1 12
1.4m-1.5m 1 0.2 0
1.5m-1.6m 1 0.2 0
1.6m-1.7m 1 1 0.2 0
1.7m-1.8m 1 1 0.2 6
1.8m-1.9m 1 1 0.2 6
1.9m-2m 1 0
2m-2.25m 1 0
2.25m-2.5m 2 0
2.5m-2.75m 2 1 0.1 12
2.75m-3m 2 1 0.1 12
3m-3.5m 1 1 1 0.2 6
3.5m-4m 1 0
4m-4.5m 1 0
5.01m-6m 1 1 1 0.2 6
7.01m-8m 1 1 0.2 6
10.01m-11m 1 0
11.01m-12m 1 0