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 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 12 2 2 0.5
26k-50k 18 38 4 0.4 2.8
51k-75k 42 83 14 0.3 3
76k-100k 43 117 26 0.5 2.2
101k-125k 46 122 32 0.4 2.3
126k-150k 74 151 30 0.3 2.9
151k-175k 54 164 29 0.5 2
176k-200k 68 156 27 0.4 2.6
201k-225k 68 178 28 0.4 2.3
226k-250k 126 259 54 0.3 2.9
251k-275k 100 286 40 0.5 2.1
276k-300k 123 327 68 0.4 2.3
301k-325k 74 205 27 0.5 2.2
326k-350k 83 278 51 0.6 1.8
351k-375k 62 213 26 0.6 1.7
376k-400k 72 215 36 0.5 2
401k-425k 43 150 19 0.6 1.7
426k-450k 46 158 28 0.6 1.7
451k-475k 25 102 16 0.7 1.5
476k-500k 34 96 17 0.5 2.1
501k-550k 42 150 25 0.6 1.7
551k-600k 49 109 19 0.4 2.7
601k-650k 28 102 20 0.6 1.6
651k-700k 44 88 11 0.3 3
701k-750k 14 70 10 0.8 1.2
751k-800k 31 70 13 0.4 2.7
801k-850k 9 56 5 1 1
851k-900k 19 56 4 0.5 2
901k-950k 6 36 6 1 1
951k-1m 12 35 6 0.5 2.1
1m-1.1m 6 44 5 1.2 0.8
1.1m-1.2m 14 47 12 0.6 1.8
1.2m-1.3m 7 48 7 1.1 0.9
1.3m-1.4m 13 44 2 0.6 1.8
1.4m-1.5m 7 50 10 1.2 0.8
1.5m-1.6m 10 34 2 0.6 1.8
1.6m-1.7m 3 36 3 2 0.5
1.7m-1.8m 7 21 8 0.5 2
1.8m-1.9m 9 23 3 0.4 2.3
1.9m-2m 11 21 3 0.3 3.1
2m-2.25m 5 43 5 1.4 0.7
2.25m-2.5m 10 24 1 0.4 2.5
2.5m-2.75m 10 24 2 0.4 2.5
2.75m-3m 6 14 3 0.4 2.6
3m-3.5m 12 24 3 0.3 3
3.5m-4m 6 10 1 0.3 3.6
4m-4.5m 6 13 3 0.4 2.8
4.5m-5m 4 5 0.2 4.8
5.01m-6m 7 3 0.1 14
6.01m-7m 4 2 1 0.1 12
7.01m-8m 2 0
8.01m-9m 2 0
9.01m-10m 2 0
18.01m-19m 1 0

Townhouses 48% 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 1 1 0.2 6
26k-50k 1 4 1 0.7 1.5
51k-75k 2 9 0.8 1.3
76k-100k 4 16 3 0.7 1.5
101k-125k 4 7 1 0.3 3.4
126k-150k 4 10 2 0.4 2.4
151k-175k 3 10 3 0.6 1.8
176k-200k 4 9 1 0.4 2.7
201k-225k 2 2 0.2 6
226k-250k 3 4 0.2 4.5
251k-275k 2 9 0.8 1.3
276k-300k 5 11 2 0.4 2.7
301k-325k 2 7 1 0.6 1.7
326k-350k 4 11 1 0.5 2.2
351k-375k 9 1.5 0
376k-400k 5 14 2 0.5 2.1
401k-425k 4 13 2 0.5 1.8
426k-450k 3 5 2 0.3 3.6
451k-475k 3 11 1 0.6 1.6
476k-500k 3 17 1 0.9 1.1
501k-550k 3 34 4 1.9 0.5
551k-600k 7 20 3 0.5 2.1
601k-650k 1 31 5.2 0.2
651k-700k 8 36 3 0.8 1.3
701k-750k 2 25 2 2.1 0.5
751k-800k 5 23 3 0.8 1.3
801k-850k 3 21 7 1.2 0.9
851k-900k 6 13 3 0.4 2.8
901k-950k 3 16 3 0.9 1.1
951k-1m 1 17 3 2.8 0.4
1m-1.1m 2 16 2 1.3 0.8
1.1m-1.2m 4 18 3 0.8 1.3
1.2m-1.3m 4 13 2 0.5 1.8
1.3m-1.4m 1 14 2.3 0.4
1.4m-1.5m 1 4 0.7 1.5
1.5m-1.6m 1 0.2 0
1.6m-1.7m 1 2 1 0.3 3
1.7m-1.8m 3 1 1 0.1 18
1.8m-1.9m 1 1 0.2 6
1.9m-2m 2 0
2.25m-2.5m 1 0.2 0
2.5m-2.75m 1 0.2 0

Condos 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 2 0.3 3
26k-50k 4 10 2 0.4 2.4
51k-75k 20 20 5 0.2 6
76k-100k 17 28 6 0.3 3.6
101k-125k 36 88 17 0.4 2.5
126k-150k 71 238 42 0.6 1.8
151k-175k 90 309 53 0.6 1.7
176k-200k 93 333 57 0.6 1.7
201k-225k 136 363 60 0.4 2.2
226k-250k 137 419 80 0.5 2
251k-275k 113 366 32 0.5 1.9
276k-300k 151 405 59 0.4 2.2
301k-325k 115 345 43 0.5 2
326k-350k 110 374 56 0.6 1.8
351k-375k 90 265 36 0.5 2
376k-400k 124 284 42 0.4 2.6
401k-425k 71 282 30 0.7 1.5
426k-450k 107 240 40 0.4 2.7
451k-475k 62 228 25 0.6 1.6
476k-500k 89 225 35 0.4 2.4
501k-550k 97 378 36 0.6 1.5
551k-600k 94 284 28 0.5 2
601k-650k 70 307 50 0.7 1.4
651k-700k 84 230 33 0.5 2.2
701k-750k 56 179 19 0.5 1.9
751k-800k 59 156 19 0.4 2.3
801k-850k 30 141 14 0.8 1.3
851k-900k 48 105 16 0.4 2.7
901k-950k 29 75 12 0.4 2.3
951k-1m 35 75 15 0.4 2.8
1m-1.1m 33 70 7 0.4 2.8
1.1m-1.2m 27 72 11 0.4 2.3
1.2m-1.3m 28 68 9 0.4 2.5
1.3m-1.4m 26 34 5 0.2 4.6
1.4m-1.5m 26 32 7 0.2 4.9
1.5m-1.6m 15 19 4 0.2 4.7
1.6m-1.7m 22 12 1 0.1 11
1.7m-1.8m 20 15 2 0.1 8
1.8m-1.9m 12 21 2 0.3 3.4
1.9m-2m 17 14 4 0.1 7.3
2m-2.25m 14 18 2 0.2 4.7
2.25m-2.5m 21 21 1 0.2 6
2.5m-2.75m 21 14 1 0.1 9
2.75m-3m 11 14 2 0.2 4.7
3m-3.5m 17 7 2 0.1 14.6
3.5m-4m 10 5 1 0.1 12
4m-4.5m 7 5 0.1 8.4
4.5m-5m 2 1 0.1 12
5.01m-6m 5 0
6.01m-7m 7 1 1 0 42
7.01m-8m 3 0
8.01m-9m 1 0
11.01m-12m 1 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 7 1 0 42
1k-25k 224 103 24 0.1 13
26k-50k 201 59 7 0 20.4
51k-75k 75 21 9 0 21.4
76k-100k 57 19 4 0.1 18
101k-125k 23 10 3 0.1 13.8
126k-150k 31 6 2 0 31
151k-175k 13 4 2 0.1 19.5
176k-200k 16 3 0 32
201k-225k 8 8 1 0.2 6
226k-250k 13 6 1 0.1 13
251k-275k 6 3 0.1 12
276k-300k 14 3 0 28
301k-325k 4 0
326k-350k 5 3 2 0.1 10
351k-375k 5 2 0.1 15
376k-400k 7 3 1 0.1 14
401k-425k 2 2 0.2 6
426k-450k 4 0
451k-475k 3 2 1 0.1 9
476k-500k 12 0
501k-550k 9 1 0 54
551k-600k 10 2 0 30
601k-650k 4 1 1 0 24
651k-700k 3 0
701k-750k 6 1 0 36
751k-800k 4 2 0.1 12
801k-850k 4 0
851k-900k 2 1 1 0.1 12
901k-950k 3 1 0.1 18
951k-1m 4 1 1 0 24
1m-1.1m 2 0
1.1m-1.2m 3 1 0.1 18
1.2m-1.3m 3 0
1.3m-1.4m 1 0
1.5m-1.6m 1 0.2 0
1.7m-1.8m 1 1 0.2 0
1.8m-1.9m 1 1 0.2 6
1.9m-2m 3 1 0.1 18
2m-2.25m 4 0
2.25m-2.5m 1 0
2.5m-2.75m 2 0
2.75m-3m 4 0
3m-3.5m 5 0
3.5m-4m 1 0
4m-4.5m 1 0
5.01m-6m 1 0
6.01m-7m 2 0
7.01m-8m 1 1 0.2 6
8.01m-9m 1 0
14.01m-15m 1 0
17.01m-18m 1 0