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 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
101k-125k 1 0.2 0
176k-200k 1 0.2 0
201k-225k 2 1 0.3 0
226k-250k 3 1 0.5 0
251k-275k 1 6 1 1 1
276k-300k 8 10 1 0.2 4.8
301k-325k 9 42 10 0.8 1.3
326k-350k 20 78 19 0.7 1.5
351k-375k 15 103 28 1.1 0.9
376k-400k 57 126 32 0.4 2.7
401k-425k 48 95 24 0.3 3
426k-450k 62 85 20 0.2 4.4
451k-475k 39 90 20 0.4 2.6
476k-500k 52 75 16 0.2 4.2
501k-550k 48 118 32 0.4 2.4
551k-600k 39 51 14 0.2 4.6
601k-650k 29 40 7 0.2 4.4
651k-700k 26 27 7 0.2 5.8
701k-750k 13 25 6 0.3 3.1
751k-800k 15 19 1 0.2 4.7
801k-850k 6 10 1 0.3 3.6
851k-900k 11 12 3 0.2 5.5
901k-950k 4 7 1 0.3 3.4
951k-1m 4 4 2 0.2 6
1m-1.1m 10 4 1 0.1 15
1.1m-1.2m 12 6 1 0.1 12
1.2m-1.3m 5 7 2 0.2 4.3
1.3m-1.4m 3 0
1.4m-1.5m 2 1 0.1 12
1.5m-1.6m 1 1 0.2 6
1.6m-1.7m 1 0
1.7m-1.8m 1 0.2 0
1.9m-2m 1 0
2.25m-2.5m 2 1 1 0.1 12
2.5m-2.75m 1 0
2.75m-3m 2 1 0.1 12
3.5m-4m 1 0

Townhouses 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
101k-125k 1 0
126k-150k 1 2 0.3 3
151k-175k 4 8 2 0.3 3
176k-200k 9 11 3 0.2 4.9
201k-225k 11 14 3 0.2 4.7
226k-250k 18 15 3 0.1 7.2
251k-275k 12 14 6 0.2 5.1
276k-300k 8 13 4 0.3 3.7
301k-325k 9 11 2 0.2 4.9
326k-350k 6 4 2 0.1 9
351k-375k 3 2 1 0.1 9
376k-400k 2 0
401k-425k 1 2 0.3 3
426k-450k 1 0
476k-500k 1 1 0.2 0

Condos 3% 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 0.2 0
151k-175k 2 2 0.2 6
176k-200k 6 5 0.1 7.2
201k-225k 4 5 1 0.2 4.8
226k-250k 6 2 1 0.1 18
251k-275k 2 0
276k-300k 2 0
326k-350k 1 0
351k-375k 2 0
376k-400k 3 0

Land 14% 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 4 0
101k-125k 2 0.3 0
126k-150k 2 0.3 0
151k-175k 1 3 0.5 2
226k-250k 1 1 0.2 6
301k-325k 2 0
326k-350k 2 0
351k-375k 2 1 1 0.1 12
376k-400k 1 1 0.2 6
401k-425k 1 0
551k-600k 1 0.2 0
951k-1m 1 0
1m-1.1m 1 0
1.1m-1.2m 1 0
3.5m-4m 1 0