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
1k-25k 1 0
26k-50k 1 0
76k-100k 1 0.2 0
101k-125k 1 0.2 0
151k-175k 1 0.2 0
176k-200k 1 1 0.2 0
201k-225k 2 0.3 0
226k-250k 4 2 0.7 0
251k-275k 1 6 1 1
276k-300k 6 11 4 0.3 3.3
301k-325k 10 33 5 0.6 1.8
326k-350k 26 71 17 0.5 2.2
351k-375k 28 92 16 0.5 1.8
376k-400k 44 145 24 0.5 1.8
401k-425k 41 95 10 0.4 2.6
426k-450k 44 101 17 0.4 2.6
451k-475k 38 63 10 0.3 3.6
476k-500k 48 71 11 0.2 4.1
501k-550k 50 108 13 0.4 2.8
551k-600k 40 58 8 0.2 4.1
601k-650k 28 40 10 0.2 4.2
651k-700k 15 26 2 0.3 3.5
701k-750k 12 21 6 0.3 3.4
751k-800k 11 19 5 0.3 3.5
801k-850k 6 13 1 0.4 2.8
851k-900k 8 10 2 0.2 4.8
901k-950k 4 9 2 0.4 2.7
951k-1m 3 4 1 0.2 4.5
1m-1.1m 9 4 1 0.1 13.5
1.1m-1.2m 11 7 0.1 9.4
1.2m-1.3m 2 6 3 0.5 2
1.3m-1.4m 3 2 0.1 9
1.4m-1.5m 3 1 0.5 0
1.5m-1.6m 1 0.2 0
1.6m-1.7m 1 0
1.7m-1.8m 3 0
1.8m-1.9m 1 0
2m-2.25m 1 0.2 0
2.25m-2.5m 1 0
2.5m-2.75m 1 0
2.75m-3m 1 0
3m-3.5m 1 0
3.5m-4m 1 0.2 0
4m-4.5m 1 0
4.5m-5m 1 0.2 0

Townhouses 10% 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
126k-150k 1 1 1 0.2 6
151k-175k 2 5 2 0.4 2.4
176k-200k 6 12 3 0.3 3
201k-225k 7 15 3 0.4 2.8
226k-250k 16 18 0.2 5.3
251k-275k 16 14 2 0.1 6.9
276k-300k 13 22 2 0.3 3.5
301k-325k 5 16 4 0.5 1.9
326k-350k 3 3 0.2 6
351k-375k 1 0
401k-425k 1 1 0.2 0

Condos 10% 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
126k-150k 1 2 0.3 3
151k-175k 2 0
176k-200k 6 6 0.2 6
201k-225k 3 5 1 0.3 3.6
226k-250k 1 3 1 0.5 2
251k-275k 1 1 0.2 6
276k-300k 3 0.5 0
301k-325k 1 1 0.2 6
326k-350k 2 0
351k-375k 1 0

Land 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
76k-100k 1 0.2 0
101k-125k 1 0.2 0
126k-150k 2 3 1 0.3 4
151k-175k 2 1 0.1 12
176k-200k 1 0.2 0
226k-250k 1 0.2 0
276k-300k 1 0.2 0
301k-325k 1 0
351k-375k 2 0
376k-400k 1 1 0.2 6
401k-425k 1 0
426k-450k 1 0
476k-500k 1 0.2 0
551k-600k 1 0.2 0
951k-1m 1 0
1m-1.1m 1 0
1.1m-1.2m 1 0
1.2m-1.3m 1 0
2m-2.25m 1 0.2 0
3m-3.5m 1 0
3.5m-4m 2 0