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 41% 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 4 0.7 0
126k-150k 2 14 1 1.2 0.9
151k-175k 1 18 2 3 0.3
176k-200k 3 24 3 1.3 0.8
201k-225k 8 34 6 0.7 1.4
226k-250k 18 65 17 0.6 1.7
251k-275k 29 114 22 0.7 1.5
276k-300k 55 158 28 0.5 2.1
301k-325k 70 183 40 0.4 2.3
326k-350k 84 258 52 0.5 2
351k-375k 83 213 28 0.4 2.3
376k-400k 89 223 59 0.4 2.4
401k-425k 62 185 25 0.5 2
426k-450k 68 214 47 0.5 1.9
451k-475k 58 151 29 0.4 2.3
476k-500k 64 153 33 0.4 2.5
501k-550k 95 197 44 0.3 2.9
551k-600k 78 155 20 0.3 3
601k-650k 68 151 36 0.4 2.7
651k-700k 54 116 27 0.4 2.8
701k-750k 35 104 16 0.5 2
751k-800k 33 87 12 0.4 2.3
801k-850k 16 63 18 0.7 1.5
851k-900k 28 69 11 0.4 2.4
901k-950k 12 49 12 0.7 1.5
951k-1m 11 51 8 0.8 1.3
1m-1.1m 16 71 10 0.7 1.4
1.1m-1.2m 14 44 13 0.5 1.9
1.2m-1.3m 16 41 5 0.4 2.3
1.3m-1.4m 10 41 9 0.7 1.5
1.4m-1.5m 11 34 9 0.5 1.9
1.5m-1.6m 8 37 8 0.8 1.3
1.6m-1.7m 19 14 4 0.1 8.1
1.7m-1.8m 8 25 6 0.5 1.9
1.8m-1.9m 10 19 4 0.3 3.2
1.9m-2m 11 13 6 0.2 5.1
2m-2.25m 15 18 4 0.2 5
2.25m-2.5m 15 26 7 0.3 3.5
2.5m-2.75m 12 20 5 0.3 3.6
2.75m-3m 12 8 2 0.1 9
3m-3.5m 12 13 1 0.2 5.5
3.5m-4m 14 10 1 0.1 8.4
4m-4.5m 4 5 2 0.2 4.8
4.5m-5m 3 7 0.4 2.6
5.01m-6m 5 0
6.01m-7m 2 1 0.1 12
7.01m-8m 2 0.3 0
8.01m-9m 1 0.2 0
9.01m-10m 1 0.2 0

Townhouses 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
126k-150k 1 1 0.2 6
151k-175k 3 1 0.5 0
176k-200k 4 15 4 0.6 1.6
201k-225k 18 39 9 0.4 2.8
226k-250k 31 63 15 0.3 3
251k-275k 43 75 10 0.3 3.4
276k-300k 62 110 25 0.3 3.4
301k-325k 80 145 35 0.3 3.3
326k-350k 84 166 24 0.3 3
351k-375k 62 90 20 0.2 4.1
376k-400k 80 76 22 0.2 6.3
401k-425k 52 74 19 0.2 4.2
426k-450k 44 63 12 0.2 4.2
451k-475k 52 37 13 0.1 8.4
476k-500k 46 36 11 0.1 7.7
501k-550k 52 43 8 0.1 7.3
551k-600k 41 39 9 0.2 6.3
601k-650k 37 59 12 0.3 3.8
651k-700k 29 44 7 0.3 4
701k-750k 22 18 3 0.1 7.3
751k-800k 16 18 1 0.2 5.3
801k-850k 11 22 8 0.3 3
851k-900k 4 17 3 0.7 1.4
901k-950k 6 4 1 0.1 9
951k-1m 5 5 1 0.2 6
1m-1.1m 5 5 0.2 6
1.1m-1.2m 2 6 1 0.5 2
1.2m-1.3m 3 4 1 0.2 4.5
1.3m-1.4m 2 7 1 0.6 1.7
1.4m-1.5m 1 2 1 0.3 3
1.5m-1.6m 2 0.3 0
1.6m-1.7m 3 1 1 0.1 18
1.7m-1.8m 3 0
1.8m-1.9m 3 0
1.9m-2m 3 0
2m-2.25m 2 4 0.3 3
2.25m-2.5m 1 2 0.3 3
2.5m-2.75m 1 0
2.75m-3m 1 0
3m-3.5m 1 0.2 0

Condos 25% 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 2 0.3 0
101k-125k 5 23 4 0.8 1.3
126k-150k 16 24 5 0.3 4
151k-175k 13 28 5 0.4 2.8
176k-200k 42 34 8 0.1 7.4
201k-225k 38 32 8 0.1 7.1
226k-250k 42 22 7 0.1 11.5
251k-275k 30 36 6 0.2 5
276k-300k 41 47 9 0.2 5.2
301k-325k 38 34 6 0.1 6.7
326k-350k 27 25 6 0.2 6.5
351k-375k 19 21 4 0.2 5.4
376k-400k 23 37 9 0.3 3.7
401k-425k 15 21 6 0.2 4.3
426k-450k 11 11 3 0.2 6
451k-475k 10 8 4 0.1 7.5
476k-500k 8 8 5 0.2 6
501k-550k 10 18 4 0.3 3.3
551k-600k 10 14 3 0.2 4.3
601k-650k 6 11 2 0.3 3.3
651k-700k 5 11 4 0.4 2.7
701k-750k 2 0.3 0
751k-800k 3 6 2 0.3 3
801k-850k 5 1 0 30
851k-900k 2 0
901k-950k 3 1 0.1 18
951k-1m 1 1 0.2 6
1m-1.1m 1 1 1 0.2 6
1.1m-1.2m 3 1 0.5 0
1.2m-1.3m 1 8 2 1.3 0.8
1.3m-1.4m 2 2 0.3 0
1.4m-1.5m 1 0
1.5m-1.6m 1 1 0.2 6
1.6m-1.7m 1 0
1.7m-1.8m 1 0.2 0
1.9m-2m 1 0
2m-2.25m 4 2 0.1 12
2.25m-2.5m 5 2 0.1 15
2.5m-2.75m 1 1 0.2 6
2.75m-3m 5 0
3m-3.5m 1 2 0.3 3
3.5m-4m 1 2 2 0.3 3
4m-4.5m 1 0.2 0
4.5m-5m 1 0

Land 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
26k-50k 6 5 1 0.1 7.2
51k-75k 7 12 3 0.3 3.5
76k-100k 13 9 1 0.1 8.7
101k-125k 14 18 4 0.2 4.7
126k-150k 21 6 1 0 21
151k-175k 12 7 0.1 10.3
176k-200k 9 3 0.1 18
201k-225k 6 3 2 0.1 12
226k-250k 5 6 3 0.2 5
251k-275k 3 2 1 0.1 9
276k-300k 13 1 0 78
301k-325k 2 2 0.2 6
326k-350k 5 3 1 0.1 10
351k-375k 4 1 0 24
376k-400k 9 2 1 0 27
401k-425k 1 3 0.5 2
426k-450k 7 2 0 21
451k-475k 2 2 0.2 6
476k-500k 4 1 0 24
501k-550k 6 2 0.1 18
551k-600k 3 2 0.1 9
601k-650k 2 5 0.4 2.4
651k-700k 3 1 0.1 18
701k-750k 3 1 0.1 18
751k-800k 6 2 1 0.1 18
801k-850k 2 0
851k-900k 2 2 0.2 6
901k-950k 2 1 0.1 12
951k-1m 1 1 0.2 0
1m-1.1m 3 1 1 0.1 18
1.1m-1.2m 6 1 1 0 36
1.2m-1.3m 4 0
1.3m-1.4m 1 2 1 0.3 3
1.4m-1.5m 1 2 0.3 3
1.5m-1.6m 2 0
1.6m-1.7m 1 0
1.7m-1.8m 2 1 0.1 12
1.8m-1.9m 1 1 1 0.2 6
1.9m-2m 1 0
2m-2.25m 1 0
2.25m-2.5m 1 0
2.5m-2.75m 2 1 0.1 12
2.75m-3m 3 1 0.1 18
3m-3.5m 1 0
3.5m-4m 1 0
4m-4.5m 1 0
5.01m-6m 2 0
7.01m-8m 1 1 0.2 6
10.01m-11m 1 0
11.01m-12m 1 0