Supply & Demand in Gastonia, 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 28% 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
26k-50k 3 0.5 0
51k-75k 4 1 0.7 0
76k-100k 1 8 1 1.3 0.8
101k-125k 3 8 0.4 2.3
126k-150k 6 25 6 0.7 1.4
151k-175k 10 23 8 0.4 2.6
176k-200k 23 39 8 0.3 3.5
201k-225k 29 49 5 0.3 3.6
226k-250k 38 65 5 0.3 3.5
251k-275k 24 58 13 0.4 2.5
276k-300k 44 66 5 0.3 4
301k-325k 28 75 8 0.4 2.2
326k-350k 42 58 8 0.2 4.3
351k-375k 33 45 12 0.2 4.4
376k-400k 24 45 5 0.3 3.2
401k-425k 21 28 6 0.2 4.5
426k-450k 14 25 7 0.3 3.4
451k-475k 5 8 0.3 3.8
476k-500k 14 16 2 0.2 5.3
501k-550k 15 13 3 0.1 6.9
551k-600k 9 5 0.1 10.8
601k-650k 5 3 0.1 10
651k-700k 2 5 2 0.4 2.4
701k-750k 10 2 0 30
751k-800k 5 4 0.1 7.5
801k-850k 1 3 1 0.5 2
901k-950k 1 0.2 0
951k-1m 3 1 0.5 0
2.75m-3m 1 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
201k-225k 1 1 0.2 6
226k-250k 1 0.2 0
251k-275k 8 12 3 0.3 4
276k-300k 27 31 6 0.2 5.2
301k-325k 3 5 0.3 3.6
326k-350k 2 5 3 0.4 2.4
351k-375k 3 1 1 0.1 18
426k-450k 1 0.2 0
476k-500k 1 0.2 0

Condos 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
101k-125k 3 1 0.5 0
126k-150k 1 0.2 0
151k-175k 1 2 0.3 3
176k-200k 2 5 0.4 2.4
201k-225k 3 2 0.1 9
226k-250k 2 2 0.2 6
251k-275k 1 0
301k-325k 2 2 1 0.2 6
1.2m-1.3m 1 0.2 0
2m-2.25m 1 0

Land 23% 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 5 6 3 0.2 5
26k-50k 10 15 3 0.3 4
51k-75k 11 4 0.1 16.5
76k-100k 4 2 0.1 12
101k-125k 3 3 0.2 6
126k-150k 3 1 0.1 18
151k-175k 1 0
176k-200k 1 0
201k-225k 1 2 0.3 3
226k-250k 1 2 0.3 3
251k-275k 1 0
276k-300k 2 1 0.1 12
301k-325k 2 0.3 0
426k-450k 1 0
451k-475k 1 0.2 0
651k-700k 1 0
701k-750k 1 0.2 0
801k-850k 1 0.2 0
851k-900k 1 0.2 0
901k-950k 1 0
951k-1m 1 0
1m-1.1m 1 0