Supply & Demand in Chicago, IL

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 34% 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 6 1 1
26k-50k 15 45 7 0.5 2
51k-75k 36 69 12 0.3 3.1
76k-100k 44 115 16 0.4 2.3
101k-125k 57 107 16 0.3 3.2
126k-150k 61 171 32 0.5 2.1
151k-175k 52 113 17 0.4 2.8
176k-200k 78 155 21 0.3 3
201k-225k 57 144 14 0.4 2.4
226k-250k 87 205 28 0.4 2.5
251k-275k 78 208 22 0.4 2.3
276k-300k 116 242 39 0.3 2.9
301k-325k 74 199 18 0.4 2.2
326k-350k 73 212 22 0.5 2.1
351k-375k 46 159 16 0.6 1.7
376k-400k 65 179 22 0.5 2.2
401k-425k 31 118 8 0.6 1.6
426k-450k 37 123 10 0.6 1.8
451k-475k 17 81 4 0.8 1.3
476k-500k 29 70 9 0.4 2.5
501k-550k 35 113 9 0.5 1.9
551k-600k 29 87 8 0.5 2
601k-650k 14 77 5 0.9 1.1
651k-700k 20 70 5 0.6 1.7
701k-750k 14 48 2 0.6 1.8
751k-800k 10 46 3 0.8 1.3
801k-850k 10 34 3 0.6 1.8
851k-900k 11 30 3 0.5 2.2
901k-950k 2 19 4 1.6 0.6
951k-1m 7 25 1 0.6 1.7
1m-1.1m 3 40 3 2.2 0.4
1.1m-1.2m 8 28 2 0.6 1.7
1.2m-1.3m 8 29 1 0.6 1.7
1.3m-1.4m 4 27 2 1.1 0.9
1.4m-1.5m 1 30 1 5 0.2
1.5m-1.6m 2 25 2 2.1 0.5
1.6m-1.7m 3 27 1 1.5 0.7
1.7m-1.8m 2 13 1.1 0.9
1.8m-1.9m 4 14 1 0.6 1.7
1.9m-2m 7 16 1 0.4 2.6
2m-2.25m 10 17 1 0.3 3.5
2.25m-2.5m 2 17 1 1.4 0.7
2.5m-2.75m 6 9 1 0.3 4
2.75m-3m 2 10 1 0.8 1.2
3m-3.5m 4 13 2 0.5 1.8
3.5m-4m 8 5 0.1 9.6
4m-4.5m 3 11 1 0.6 1.6
4.5m-5m 1 3 1 0.5 2
5.01m-6m 2 2 1 0.2 6
6.01m-7m 2 1 0.1 12
7.01m-8m 1 0
9.01m-10m 1 0
18.01m-19m 1 0

Townhouses 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
1k-25k 1 0.2 0
26k-50k 4 3 0.1 8
51k-75k 2 11 0.9 1.1
76k-100k 3 7 0.4 2.6
101k-125k 5 7 0.2 4.3
126k-150k 4 7 1 0.3 3.4
151k-175k 5 11 4 0.4 2.7
176k-200k 2 11 1 0.9 1.1
201k-225k 1 4 1 0.7 1.5
226k-250k 1 4 1 0.7 1.5
251k-275k 1 2 0.3 3
276k-300k 2 13 2 1.1 0.9
301k-325k 2 4 0.3 3
326k-350k 1 4 0.7 1.5
351k-375k 2 15 2 1.3 0.8
376k-400k 2 5 0.4 2.4
401k-425k 5 5 0.2 6
426k-450k 2 5 2 0.4 2.4
451k-475k 9 1 1.5 0
476k-500k 2 12 2 1 1
501k-550k 4 17 0.7 1.4
551k-600k 5 18 1 0.6 1.7
601k-650k 2 11 1 0.9 1.1
651k-700k 1 24 2 4 0.3
701k-750k 2 14 1 1.2 0.9
751k-800k 3 16 0.9 1.1
801k-850k 1 15 2 2.5 0.4
851k-900k 9 1 1.5 0
901k-950k 13 2.2 0
951k-1m 1 8 1 1.3 0.8
1m-1.1m 1 10 1.7 0.6
1.1m-1.2m 1 18 2 3 0.3
1.2m-1.3m 11 1.8 0
1.3m-1.4m 5 0.8 0
1.4m-1.5m 1 1 0.2 0
1.5m-1.6m 1 0
1.6m-1.7m 3 0.5 0
1.7m-1.8m 2 3 1 0.3 4
1.8m-1.9m 1 0
1.9m-2m 1 0
2.25m-2.5m 1 0.2 0

Condos 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
1k-25k 3 2 0.5 0
26k-50k 4 13 3 0.5 1.8
51k-75k 14 28 6 0.3 3
76k-100k 16 31 3 0.3 3.1
101k-125k 29 79 6 0.5 2.2
126k-150k 50 201 22 0.7 1.5
151k-175k 55 227 27 0.7 1.5
176k-200k 69 222 14 0.5 1.9
201k-225k 77 286 21 0.6 1.6
226k-250k 99 302 33 0.5 2
251k-275k 78 261 15 0.6 1.8
276k-300k 68 265 20 0.6 1.5
301k-325k 55 252 20 0.8 1.3
326k-350k 72 245 24 0.6 1.8
351k-375k 35 189 19 0.9 1.1
376k-400k 58 194 24 0.6 1.8
401k-425k 42 183 13 0.7 1.4
426k-450k 61 166 21 0.5 2.2
451k-475k 35 141 9 0.7 1.5
476k-500k 36 136 16 0.6 1.6
501k-550k 45 230 19 0.9 1.2
551k-600k 52 190 15 0.6 1.6
601k-650k 46 213 14 0.8 1.3
651k-700k 34 146 12 0.7 1.4
701k-750k 35 131 11 0.6 1.6
751k-800k 32 103 10 0.5 1.9
801k-850k 14 113 6 1.3 0.7
851k-900k 27 81 8 0.5 2
901k-950k 10 59 2 1 1
951k-1m 30 52 7 0.3 3.5
1m-1.1m 21 56 8 0.4 2.3
1.1m-1.2m 23 58 7 0.4 2.4
1.2m-1.3m 19 48 4 0.4 2.4
1.3m-1.4m 15 29 2 0.3 3.1
1.4m-1.5m 17 23 2 0.2 4.4
1.5m-1.6m 6 18 3 0.5 2
1.6m-1.7m 9 16 2 0.3 3.4
1.7m-1.8m 12 10 1 0.1 7.2
1.8m-1.9m 12 16 0.2 4.5
1.9m-2m 3 17 5 0.9 1.1
2m-2.25m 9 15 2 0.3 3.6
2.25m-2.5m 12 12 1 0.2 6
2.5m-2.75m 14 9 1 0.1 9.3
2.75m-3m 9 8 0.1 6.8
3m-3.5m 11 7 0.1 9.4
3.5m-4m 9 5 0.1 10.8
4m-4.5m 4 9 1 0.4 2.7
4.5m-5m 2 0
5.01m-6m 2 3 1 0.3 4
6.01m-7m 5 1 0 30
7.01m-8m 3 0
11.01m-12m 1 0
12.01m-13m 1 0.2 0

Land 11% 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
-24,000-0 5 1 1 0 30
1k-25k 203 85 16 0.1 14.3
26k-50k 212 66 9 0.1 19.3
51k-75k 63 19 1 0.1 19.9
76k-100k 48 19 4 0.1 15.2
101k-125k 24 9 1 0.1 16
126k-150k 26 7 2 0 22.3
151k-175k 10 2 0 30
176k-200k 9 4 1 0.1 13.5
201k-225k 6 4 0.1 9
226k-250k 7 5 1 0.1 8.4
251k-275k 4 2 0.1 12
276k-300k 13 4 0.1 19.5
301k-325k 1 0
326k-350k 5 7 1 0.2 4.3
351k-375k 7 1 0 42
376k-400k 3 2 0.1 9
401k-425k 2 2 0.2 6
426k-450k 5 1 0 30
451k-475k 3 1 0.1 18
476k-500k 12 1 0 72
501k-550k 4 1 0 24
551k-600k 7 0
601k-650k 3 1 0.1 18
651k-700k 2 0
701k-750k 1 2 1 0.3 3
751k-800k 1 3 0.5 2
801k-850k 3 1 0.1 18
851k-900k 1 0
901k-950k 3 0
951k-1m 5 2 0.1 15
1m-1.1m 1 2 0.3 3
1.1m-1.2m 5 0
1.2m-1.3m 3 1 0.1 18
1.4m-1.5m 4 1 0 24
1.6m-1.7m 1 0
1.7m-1.8m 1 0
1.8m-1.9m 2 0.3 0
2m-2.25m 2 1 0.1 12
2.25m-2.5m 1 0
2.5m-2.75m 1 1 0.2 6
2.75m-3m 2 0
3m-3.5m 2 1 0.1 12
3.5m-4m 2 0
6.01m-7m 1 0
8.01m-9m 1 0
14.01m-15m 1 0
17.01m-18m 1 0