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 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
51k-75k 1 0.2 0
76k-100k 1 2 0.3 3
101k-125k 3 0.5 0
126k-150k 1 3 1 0.5 2
151k-175k 2 10 3 0.8 1.2
176k-200k 3 11 2 0.6 1.6
201k-225k 6 20 3 0.6 1.8
226k-250k 9 26 7 0.5 2.1
251k-275k 9 21 5 0.4 2.6
276k-300k 38 53 8 0.2 4.3
301k-325k 26 50 6 0.3 3.1
326k-350k 16 57 7 0.6 1.7
351k-375k 15 46 10 0.5 2
376k-400k 21 49 11 0.4 2.6
401k-425k 14 32 4 0.4 2.6
426k-450k 12 33 3 0.5 2.2
451k-475k 11 36 7 0.5 1.8
476k-500k 14 29 5 0.3 2.9
501k-550k 29 54 11 0.3 3.2
551k-600k 33 54 9 0.3 3.7
601k-650k 14 42 12 0.5 2
651k-700k 25 32 7 0.2 4.7
701k-750k 11 13 1 0.2 5.1
751k-800k 9 14 1 0.3 3.9
801k-850k 3 9 2 0.5 2
851k-900k 3 9 0.5 2
901k-950k 1 8 3 1.3 0.8
951k-1m 1 1 0.2 0
1m-1.1m 2 2 0.2 6
1.1m-1.2m 5 2 0.8 0
1.2m-1.3m 2 4 1 0.3 3
1.3m-1.4m 1 3 1 0.5 2
1.4m-1.5m 1 1 0.2 6
1.5m-1.6m 2 1 1 0.1 12
1.6m-1.7m 1 0.2 0
1.7m-1.8m 2 0
1.8m-1.9m 1 0.2 0
1.9m-2m 1 1 0.2 0
2m-2.25m 1 0
2.75m-3m 1 1 0.2 0

Townhouses 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
201k-225k 1 0.2 0
226k-250k 2 3 2 0.3 4
251k-275k 8 9 0.2 5.3
276k-300k 3 7 0.4 2.6
301k-325k 6 13 3 0.4 2.8
326k-350k 15 24 1 0.3 3.8
351k-375k 6 13 2 0.4 2.8
376k-400k 2 12 1 1
401k-425k 2 5 0.4 2.4
426k-450k 2 1 0.1 12
451k-475k 1 0.2 0
476k-500k 1 3 0.5 2
501k-550k 6 1 0
601k-650k 1 0.2 0

Condos 47% 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 0.2 0
151k-175k 2 2 0.2 6
176k-200k 1 1 0.2 6
201k-225k 1 3 0.5 2
226k-250k 4 2 0.7 0
251k-275k 2 4 2 0.3 3
276k-300k 2 1 0.1 12
301k-325k 1 2 1 0.3 3
326k-350k 1 0
501k-550k 1 1 0.2 0
601k-650k 1 0.2 0

Land 16% 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 0.5 0
26k-50k 3 3 0.2 6
51k-75k 7 2 1 0 21
76k-100k 4 4 1 0.2 6
101k-125k 4 2 0.1 12
126k-150k 5 0.8 0
151k-175k 2 1 0.1 12
176k-200k 3 3 0.2 6
201k-225k 1 1 0.2 0
226k-250k 1 1 0.2 6
251k-275k 2 1 0.3 0
326k-350k 4 1 0 24
351k-375k 2 0
376k-400k 2 2 0.2 6
426k-450k 1 0
451k-475k 1 0
476k-500k 2 0
551k-600k 3 1 0.5 0
601k-650k 1 0
701k-750k 1 0
751k-800k 1 0
851k-900k 1 0
951k-1m 1 0
1.4m-1.5m 1 0
1.6m-1.7m 2 0
1.7m-1.8m 1 0
2m-2.25m 1 0
2.75m-3m 1 0
3.5m-4m 1 0
4m-4.5m 1 0
6.01m-7m 1 0
7.01m-8m 1 0
9.01m-10m 1 0
24.01m-25m 1 0