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 24% 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 5 1 0.8 0
101k-125k 2 1 0.3 0
126k-150k 1 2 0.3 3
151k-175k 2 8 0.7 1.5
176k-200k 4 9 1 0.4 2.7
201k-225k 7 19 2 0.5 2.2
226k-250k 9 25 5 0.5 2.2
251k-275k 14 28 6 0.3 3
276k-300k 18 45 6 0.4 2.4
301k-325k 30 33 3 0.2 5.5
326k-350k 18 44 5 0.4 2.5
351k-375k 21 45 6 0.4 2.8
376k-400k 22 43 7 0.3 3.1
401k-425k 11 24 4 0.4 2.8
426k-450k 13 27 3 0.3 2.9
451k-475k 3 25 4 1.4 0.7
476k-500k 11 28 4 0.4 2.4
501k-550k 28 47 8 0.3 3.6
551k-600k 30 36 4 0.2 5
601k-650k 14 25 2 0.3 3.4
651k-700k 26 24 3 0.2 6.5
701k-750k 3 16 3 0.9 1.1
751k-800k 8 6 1 0.1 8
801k-850k 6 8 0.2 4.5
851k-900k 4 0.7 0
901k-950k 2 2 0.2 6
951k-1m 2 1 0.3 0
1m-1.1m 1 1 0.2 6
1.1m-1.2m 3 3 0.2 6
1.2m-1.3m 1 1 0.2 6
1.3m-1.4m 2 0.3 0
1.4m-1.5m 2 0
1.5m-1.6m 1 2 0.3 3
1.8m-1.9m 1 0.2 0
1.9m-2m 1 1 0.2 6
2.75m-3m 1 0.2 0

Townhouses 37% 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 1 6 1 1
251k-275k 8 6 1 0.1 8
276k-300k 1 6 2 1 1
301k-325k 3 5 0.3 3.6
326k-350k 5 12 3 0.4 2.5
351k-375k 8 10 1 0.2 4.8
376k-400k 2 8 2 0.7 1.5
401k-425k 1 1 0.2 6
426k-450k 3 1 0.1 18
451k-475k 1 0.2 0
476k-500k 5 1 0.8 0
501k-550k 1 3 0.5 2
551k-600k 1 0

Condos 31% 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
151k-175k 2 2 0.2 6
176k-200k 1 1 0.2 6
201k-225k 1 0.2 0
226k-250k 2 2 0.2 6
251k-275k 1 5 0.8 1.2
276k-300k 2 3 1 0.3 4
301k-325k 1 1 0.2 6
476k-500k 1 0.2 0
601k-650k 1 0.2 0

Land 22% 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 2 4 3 0.3 3
51k-75k 5 6 1 0.2 5
76k-100k 5 3 0.1 10
101k-125k 3 1 0.1 18
126k-150k 5 0.8 0
151k-175k 2 1 0.1 12
176k-200k 1 4 2 0.7 1.5
201k-225k 1 0.2 0
226k-250k 1 1 0.2 6
251k-275k 1 0
276k-300k 1 1 0.2 6
326k-350k 3 0
351k-375k 1 0
376k-400k 1 1 0.2 6
426k-450k 1 0
451k-475k 2 0
501k-550k 1 0
551k-600k 1 2 0.3 3
601k-650k 1 0
751k-800k 1 0
851k-900k 1 0
951k-1m 1 0
1m-1.1m 1 0.2 0
1.4m-1.5m 2 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
4m-4.5m 1 0
4.5m-5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0
9.01m-10m 1 1 0.2 0
21.01m-22m 1 0