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 29% 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 5 1 0.8 0
76k-100k 1 8 2 1.3 0.8
101k-125k 2 7 0.6 1.7
126k-150k 10 25 4 0.4 2.4
151k-175k 11 28 7 0.4 2.4
176k-200k 18 36 11 0.3 3
201k-225k 21 43 9 0.3 2.9
226k-250k 27 62 12 0.4 2.6
251k-275k 24 55 13 0.4 2.6
276k-300k 37 66 11 0.3 3.4
301k-325k 24 70 6 0.5 2.1
326k-350k 48 52 9 0.2 5.5
351k-375k 35 51 15 0.2 4.1
376k-400k 25 37 3 0.2 4.1
401k-425k 23 25 4 0.2 5.5
426k-450k 17 20 1 0.2 5.1
451k-475k 8 8 0.2 6
476k-500k 17 12 3 0.1 8.5
501k-550k 15 12 4 0.1 7.5
551k-600k 10 4 1 0.1 15
601k-650k 7 3 0.1 14
651k-700k 4 4 1 0.2 6
701k-750k 9 3 1 0.1 18
751k-800k 3 7 2 0.4 2.6
801k-850k 1 0.2 0
901k-950k 2 0.3 0
951k-1m 2 1 0.3 0
2.75m-3m 1 0

Townhouses 45% 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
251k-275k 8 15 6 0.3 3.2
276k-300k 17 37 10 0.4 2.8
301k-325k 4 5 1 0.2 4.8
326k-350k 5 4 1 0.1 7.5
351k-375k 3 0
426k-450k 1 0.2 0
476k-500k 1 0.2 0

Condos 29% 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 1 0.2 0
126k-150k 1 0.2 0
151k-175k 2 3 0.3 4
176k-200k 1 3 0.5 2
201k-225k 3 2 0.1 9
226k-250k 2 2 1 0.2 6
251k-275k 1 1 0.2 0
276k-300k 2 1 0.3 0
301k-325k 2 0.3 0
1m-1.1m 1 0
1.2m-1.3m 1 0.2 0
2m-2.25m 1 0

Land 20% 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 4 2 0.3 3
26k-50k 12 11 0.2 6.5
51k-75k 6 5 2 0.1 7.2
76k-100k 5 3 0.1 10
101k-125k 5 4 0.1 7.5
126k-150k 3 1 0.1 18
151k-175k 1 0
176k-200k 1 1 0.2 6
201k-225k 1 0
226k-250k 1 2 1 0.3 3
251k-275k 2 0
276k-300k 3 1 0.5 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