Supply & Demand in Glendale, AZ

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 17% 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 1 0.2 6
76k-100k 1 1 0.2 0
126k-150k 1 0
201k-225k 1 0.2 0
226k-250k 5 0.8 0
251k-275k 4 6 1 0.3 4
276k-300k 2 19 4 1.6 0.6
301k-325k 4 32 8 1.3 0.8
326k-350k 28 74 7 0.4 2.3
351k-375k 39 115 16 0.5 2
376k-400k 61 157 26 0.4 2.3
401k-425k 44 143 20 0.5 1.8
426k-450k 46 118 23 0.4 2.3
451k-475k 37 77 8 0.3 2.9
476k-500k 49 101 15 0.3 2.9
501k-550k 73 122 18 0.3 3.6
551k-600k 35 77 13 0.4 2.7
601k-650k 32 53 8 0.3 3.6
651k-700k 21 42 8 0.3 3
701k-750k 26 18 2 0.1 8.7
751k-800k 17 25 1 0.2 4.1
801k-850k 14 12 1 0.1 7
851k-900k 5 11 1 0.4 2.7
901k-950k 4 9 1 0.4 2.7
951k-1m 6 6 1 0.2 6
1m-1.1m 1 3 1 0.5 2
1.1m-1.2m 9 5 2 0.1 10.8
1.2m-1.3m 3 5 1 0.3 3.6
1.3m-1.4m 3 3 0.2 6
1.4m-1.5m 2 1 0.3 0
1.5m-1.6m 2 1 0.1 12
1.6m-1.7m 1 0.2 0
1.7m-1.8m 1 0.2 0
1.8m-1.9m 1 0.2 0
2m-2.25m 1 0.2 0
2.25m-2.5m 1 0
2.5m-2.75m 1 0.2 0
3.5m-4m 1 1 0.2 0
4m-4.5m 1 0

Townhouses 15% 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 5 1 0.4 2.4
176k-200k 3 14 2 0.8 1.3
201k-225k 8 13 4 0.3 3.7
226k-250k 20 16 4 0.1 7.5
251k-275k 11 22 4 0.3 3
276k-300k 21 34 8 0.3 3.7
301k-325k 12 17 4 0.2 4.2
326k-350k 6 9 3 0.3 4
351k-375k 3 2 0.1 9
376k-400k 1 0.2 0
426k-450k 1 0

Condos 13% 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
126k-150k 3 1 0.5 0
151k-175k 3 1 0.1 18
176k-200k 4 3 1 0.1 8
201k-225k 3 3 0.2 6
226k-250k 2 2 0.2 6
251k-275k 2 1 0.1 12
276k-300k 2 0.3 0
301k-325k 1 1 0.2 0
326k-350k 3 0
376k-400k 2 1 0.1 12
401k-425k 1 1 0.2 6

Land 7% 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
76k-100k 1 1 0.2 0
126k-150k 1 1 0.2 6
151k-175k 1 0
176k-200k 1 1 0.2 0
226k-250k 1 0
276k-300k 1 1 0.2 6
351k-375k 2 0
376k-400k 3 1 0.1 18
401k-425k 1 0
476k-500k 1 0.2 0
751k-800k 1 0
2m-2.25m 1 1 0.2 0
2.5m-2.75m 1 0
3.5m-4m 2 0