Supply & Demand in Concord, 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 % 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 0.2 0
76k-100k 4 0.7 0
101k-125k 2 0.3 0
151k-175k 1 6 1 1
176k-200k 4 7 0.3 3.4
201k-225k 8 12 1 0.3 4
226k-250k 12 16 0.2 4.5
251k-275k 11 27 0.4 2.4
276k-300k 21 39 0.3 3.2
301k-325k 21 28 2 0.2 4.5
326k-350k 19 24 0.2 4.8
351k-375k 10 37 0.6 1.6
376k-400k 15 25 0.3 3.6
401k-425k 16 19 0.2 5.1
426k-450k 8 20 0.4 2.4
451k-475k 7 16 0.4 2.6
476k-500k 15 16 0.2 5.6
501k-550k 35 33 0.2 6.4
551k-600k 29 31 1 0.2 5.6
601k-650k 28 11 1 0.1 15.3
651k-700k 14 11 0.1 7.6
701k-750k 10 9 0.2 6.7
751k-800k 8 9 1 0.2 5.3
801k-850k 4 4 0.2 6
851k-900k 2 2 0.2 6
901k-950k 5 1 0 30
951k-1m 2 1 0.1 12
1m-1.1m 1 2 0.3 3
1.1m-1.2m 2 0
1.2m-1.3m 5 1 0 30
1.4m-1.5m 1 0.2 0
1.5m-1.6m 1 0.2 0
1.6m-1.7m 1 0
1.9m-2m 1 0
2m-2.25m 1 0

Townhouses % 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
226k-250k 2 3 0.3 4
251k-275k 14 6 0.1 14
276k-300k 5 2 0.1 15
301k-325k 4 4 0.2 6
326k-350k 8 12 0.3 4
351k-375k 7 6 0.1 7
376k-400k 1 3 0.5 2
401k-425k 3 0.5 0
426k-450k 2 0.3 0
451k-475k 2 0.3 0
476k-500k 1 0.2 0
501k-550k 1 0
551k-600k 1 0

Condos % 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
101k-125k 1 0.2 0
126k-150k 1 0
151k-175k 2 0
176k-200k 3 0
201k-225k 2 0
226k-250k 3 0
251k-275k 1 2 0.3 3
276k-300k 1 1 0.2 6
301k-325k 1 0.2 0

Land % 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 2 1 0.1 12
51k-75k 5 6 0.2 5
76k-100k 1 4 0.7 1.5
101k-125k 2 0
126k-150k 4 1 0 24
151k-175k 1 2 0.3 3
176k-200k 1 3 0.5 2
201k-225k 1 0
251k-275k 2 1 0.1 12
276k-300k 2 1 0.1 12
301k-325k 1 0
326k-350k 2 0
376k-400k 1 0.2 0
501k-550k 1 0
551k-600k 2 0
601k-650k 1 0
701k-750k 1 0
751k-800k 1 0
851k-900k 1 1 0.2 6
951k-1m 1 0
1m-1.1m 1 0.2 0
1.4m-1.5m 1 0
1.5m-1.6m 1 0
1.6m-1.7m 1 0.2 0
1.7m-1.8m 1 0
2.25m-2.5m 2 0
3.5m-4m 1 0
4.5m-5m 2 0
5.01m-6m 1 0
6.01m-7m 1 0
21.01m-22m 1 0