Supply & Demand in Lake Wales, FL

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 % 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
-24,000-0 1 0.2 0
26k-50k 1 0
51k-75k 2 0.3 0
76k-100k 1 2 0.3 3
101k-125k 4 4 3 0.2 6
126k-150k 4 9 1 0.4 2.7
151k-175k 7 8 0.2 5.3
176k-200k 11 13 1 0.2 5.1
201k-225k 9 10 3 0.2 5.4
226k-250k 28 32 9 0.2 5.3
251k-275k 22 30 3 0.2 4.4
276k-300k 39 45 6 0.2 5.2
301k-325k 23 39 4 0.3 3.5
326k-350k 22 26 2 0.2 5.1
351k-375k 19 12 0.1 9.5
376k-400k 17 5 0 20.4
401k-425k 5 6 1 0.2 5
426k-450k 7 1 0 42
451k-475k 3 5 2 0.3 3.6
476k-500k 3 2 1 0.1 9
501k-550k 5 5 1 0.2 6
551k-600k 7 6 2 0.1 7
601k-650k 1 0.2 0
651k-700k 2 0
701k-750k 3 0
751k-800k 1 0
801k-850k 2 0
851k-900k 1 0
951k-1m 3 0
1m-1.1m 2 1 0.1 12
1.1m-1.2m 1 0
1.2m-1.3m 1 0
1.3m-1.4m 1 1 0.2 6
1.4m-1.5m 1 1 0.2 6
1.8m-1.9m 1 0
1.9m-2m 1 0
2.25m-2.5m 1 0
3m-3.5m 2 0
3.5m-4m 1 0.2 0
4.5m-5m 1 0

Townhouses % 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 3 0
226k-250k 6 2 0.1 18
251k-275k 4 3 0.1 8

Condos % 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 1 0.2 0
51k-75k 1 0
76k-100k 8 0
101k-125k 6 3 0.1 12
126k-150k 6 2 1 0.1 18
151k-175k 1 0
176k-200k 1 1 1 0.2 6
201k-225k 1 0.2 0

Land % 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 25 6 0 25
26k-50k 88 9 2 0 58.7
51k-75k 16 11 6 0.1 8.7
76k-100k 18 1 0 108
101k-125k 8 3 0.1 16
126k-150k 11 1 1 0 66
151k-175k 4 4 1 0.2 6
176k-200k 21 4 0 31.5
201k-225k 9 1 0 54
226k-250k 7 0
251k-275k 6 0
276k-300k 4 1 0 24
326k-350k 4 0
351k-375k 1 0.2 0
376k-400k 1 0
401k-425k 1 0
451k-475k 1 0
476k-500k 3 0
501k-550k 1 0
551k-600k 2 0
601k-650k 2 0
751k-800k 3 0
801k-850k 1 0
951k-1m 3 0
1.1m-1.2m 1 0
1.2m-1.3m 1 0.2 0
1.3m-1.4m 1 0
1.4m-1.5m 1 0
1.5m-1.6m 1 0
2m-2.25m 1 0
5.01m-6m 1 0