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 5 0.8 1.2
26k-50k 22 45 5 0.3 2.9
51k-75k 38 73 15 0.3 3.1
76k-100k 42 105 19 0.4 2.4
101k-125k 40 105 12 0.4 2.3
126k-150k 59 164 22 0.5 2.2
151k-175k 47 99 16 0.4 2.8
176k-200k 81 141 24 0.3 3.4
201k-225k 52 136 20 0.4 2.3
226k-250k 89 196 44 0.4 2.7
251k-275k 74 198 39 0.4 2.2
276k-300k 116 231 40 0.3 3
301k-325k 54 203 34 0.6 1.6
326k-350k 76 188 30 0.4 2.4
351k-375k 54 159 31 0.5 2
376k-400k 66 159 33 0.4 2.5
401k-425k 22 104 18 0.8 1.3
426k-450k 31 106 19 0.6 1.8
451k-475k 16 65 10 0.7 1.5
476k-500k 29 66 17 0.4 2.6
501k-550k 28 107 14 0.6 1.6
551k-600k 22 95 17 0.7 1.4
601k-650k 16 76 15 0.8 1.3
651k-700k 18 66 13 0.6 1.6
701k-750k 14 44 8 0.5 1.9
751k-800k 8 46 7 1 1
801k-850k 14 23 6 0.3 3.7
851k-900k 8 30 5 0.6 1.6
901k-950k 4 24 4 1 1
951k-1m 9 24 6 0.4 2.3
1m-1.1m 3 29 7 1.6 0.6
1.1m-1.2m 11 31 5 0.5 2.1
1.2m-1.3m 5 35 6 1.2 0.9
1.3m-1.4m 3 26 7 1.4 0.7
1.4m-1.5m 2 23 6 1.9 0.5
1.5m-1.6m 3 20 1 1.1 0.9
1.6m-1.7m 5 19 1 0.6 1.6
1.7m-1.8m 11 17 3 0.3 3.9
1.8m-1.9m 6 15 2 0.4 2.4
1.9m-2m 6 16 5 0.4 2.3
2m-2.25m 4 15 5 0.6 1.6
2.25m-2.5m 6 12 2 0.3 3
2.5m-2.75m 8 10 3 0.2 4.8
2.75m-3m 6 8 2 0.2 4.5
3m-3.5m 8 11 2 0.2 4.4
3.5m-4m 7 9 4 0.2 4.7
4m-4.5m 4 10 2 0.4 2.4
4.5m-5m 2 2 0.2 6
5.01m-6m 7 1 0 42
6.01m-7m 1 2 0.3 3
7.01m-8m 1 0
9.01m-10m 1 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 0.2 0
26k-50k 2 2 0.2 6
51k-75k 1 10 1 1.7 0.6
76k-100k 3 11 1 0.6 1.6
101k-125k 5 7 1 0.2 4.3
126k-150k 7 8 2 0.2 5.3
151k-175k 4 12 3 0.5 2
176k-200k 3 13 3 0.7 1.4
201k-225k 1 5 2 0.8 1.2
226k-250k 1 4 1 0.7 1.5
251k-275k 2 1 0.3 0
276k-300k 2 10 0.8 1.2
301k-325k 7 2 1.2 0
326k-350k 3 9 3 0.5 2
351k-375k 1 6 1 1
376k-400k 2 7 1 0.6 1.7
401k-425k 2 6 2 0.5 2
426k-450k 5 2 0.8 0
451k-475k 1 7 2 1.2 0.9
476k-500k 3 8 2 0.4 2.3
501k-550k 9 17 2 0.3 3.2
551k-600k 2 15 1.3 0.8
601k-650k 3 16 5 0.9 1.1
651k-700k 2 13 1.1 0.9
701k-750k 3 11 2 0.6 1.6
751k-800k 4 18 3 0.8 1.3
801k-850k 17 2 2.8 0
851k-900k 1 12 3 2 0.5
901k-950k 1 9 2 1.5 0.7
951k-1m 2 6 1 0.5 2
1m-1.1m 3 11 0.6 1.6
1.1m-1.2m 16 2.7 0
1.2m-1.3m 1 8 1 1.3 0.8
1.3m-1.4m 3 1 0.5 0
1.4m-1.5m 1 0.2 0
1.5m-1.6m 3 0
1.6m-1.7m 2 3 0.3 4
1.7m-1.8m 1 0.2 0
1.8m-1.9m 1 0.2 0
1.9m-2m 1 0

Condos 46% 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 2 0.3 0
26k-50k 8 11 2 0.2 4.4
51k-75k 16 24 4 0.3 4
76k-100k 18 32 7 0.3 3.4
101k-125k 29 75 9 0.4 2.3
126k-150k 60 165 25 0.5 2.2
151k-175k 63 211 32 0.6 1.8
176k-200k 58 206 43 0.6 1.7
201k-225k 72 225 41 0.5 1.9
226k-250k 96 314 63 0.5 1.8
251k-275k 71 231 50 0.5 1.8
276k-300k 62 266 63 0.7 1.4
301k-325k 52 239 43 0.8 1.3
326k-350k 69 245 53 0.6 1.7
351k-375k 42 175 34 0.7 1.4
376k-400k 60 210 45 0.6 1.7
401k-425k 37 176 32 0.8 1.3
426k-450k 59 180 31 0.5 2
451k-475k 29 147 28 0.8 1.2
476k-500k 60 137 24 0.4 2.6
501k-550k 41 221 48 0.9 1.1
551k-600k 56 200 35 0.6 1.7
601k-650k 58 205 36 0.6 1.7
651k-700k 46 153 35 0.6 1.8
701k-750k 39 146 29 0.6 1.6
751k-800k 43 102 25 0.4 2.5
801k-850k 28 114 19 0.7 1.5
851k-900k 25 95 23 0.6 1.6
901k-950k 13 56 8 0.7 1.4
951k-1m 23 56 16 0.4 2.5
1m-1.1m 27 59 11 0.4 2.7
1.1m-1.2m 24 53 10 0.4 2.7
1.2m-1.3m 17 50 8 0.5 2
1.3m-1.4m 18 30 6 0.3 3.6
1.4m-1.5m 8 33 8 0.7 1.5
1.5m-1.6m 15 17 1 0.2 5.3
1.6m-1.7m 8 21 5 0.4 2.3
1.7m-1.8m 12 16 5 0.2 4.5
1.8m-1.9m 8 16 2 0.3 3
1.9m-2m 7 13 2 0.3 3.2
2m-2.25m 11 14 4 0.2 4.7
2.25m-2.5m 16 13 6 0.1 7.4
2.5m-2.75m 16 9 2 0.1 10.7
2.75m-3m 5 11 1 0.4 2.7
3m-3.5m 12 9 3 0.1 8
3.5m-4m 11 5 0.1 13.2
4m-4.5m 5 7 1 0.2 4.3
4.5m-5m 5 1 1 0 30
5.01m-6m 2 5 1 0.4 2.4
6.01m-7m 5 1 0 30
7.01m-8m 2 1 0.1 12
8.01m-9m 1 1 1 0.2 6
11.01m-12m 1 0

Land 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
-24,000-0 4 0
1k-25k 211 96 25 0.1 13.2
26k-50k 225 66 9 0 20.5
51k-75k 68 15 1 0 27.2
76k-100k 40 14 2 0.1 17.1
101k-125k 28 7 1 0 24
126k-150k 29 8 2 0 21.8
151k-175k 8 1 1 0 48
176k-200k 11 5 1 0.1 13.2
201k-225k 6 4 1 0.1 9
226k-250k 7 7 2 0.2 6
251k-275k 5 1 0 30
276k-300k 13 4 0.1 19.5
301k-325k 4 1 0 24
326k-350k 9 6 0.1 9
351k-375k 4 1 0 24
376k-400k 5 2 0.1 15
401k-425k 2 1 0.1 12
426k-450k 4 0
451k-475k 2 2 1 0.2 6
476k-500k 14 3 1 0 28
501k-550k 5 1 0 30
551k-600k 10 1 1 0 60
601k-650k 4 1 0 24
651k-700k 3 0
701k-750k 2 2 0.2 6
751k-800k 1 3 1 0.5 2
801k-850k 4 1 0 24
851k-900k 3 1 1 0.1 18
901k-950k 2 0
951k-1m 7 2 0 21
1m-1.1m 5 2 0.1 15
1.1m-1.2m 5 1 0 30
1.2m-1.3m 3 0
1.4m-1.5m 4 1 0 24
1.5m-1.6m 1 1 0.2 0
1.6m-1.7m 1 0
1.7m-1.8m 1 0
1.8m-1.9m 1 0.2 0
2m-2.25m 2 1 0.1 12
2.25m-2.5m 1 1 0.2 0
2.5m-2.75m 1 1 0.2 6
2.75m-3m 2 0
3m-3.5m 3 2 0.1 9
3.5m-4m 2 0
6.01m-7m 1 0
7.01m-8m 1 0
9.01m-10m 1 0
14.01m-15m 1 0
17.01m-18m 1 0