Supply & Demand in Mooresville, 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 32% 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
151k-175k 2 0.3 0
176k-200k 1 3 1 0.5 2
201k-225k 2 5 1 0.4 2.4
226k-250k 2 11 3 0.9 1.1
251k-275k 7 13 1 0.3 3.2
276k-300k 11 16 3 0.2 4.1
301k-325k 10 12 1 0.2 5
326k-350k 17 17 4 0.2 6
351k-375k 6 31 7 0.9 1.2
376k-400k 20 48 8 0.4 2.5
401k-425k 15 29 4 0.3 3.1
426k-450k 17 34 7 0.3 3
451k-475k 18 26 7 0.2 4.2
476k-500k 20 31 6 0.3 3.9
501k-550k 31 56 15 0.3 3.3
551k-600k 28 40 8 0.2 4.2
601k-650k 20 31 7 0.3 3.9
651k-700k 9 22 3 0.4 2.5
701k-750k 11 30 6 0.5 2.2
751k-800k 13 15 3 0.2 5.2
801k-850k 6 17 2 0.5 2.1
851k-900k 10 16 2 0.3 3.8
901k-950k 3 7 0.4 2.6
951k-1m 4 9 1 0.4 2.7
1m-1.1m 5 6 1 0.2 5
1.1m-1.2m 2 4 2 0.3 3
1.2m-1.3m 3 10 2 0.6 1.8
1.3m-1.4m 4 6 1 0.3 4
1.4m-1.5m 6 6 0.2 6
1.5m-1.6m 1 3 1 0.5 2
1.6m-1.7m 3 6 0.3 3
1.7m-1.8m 4 9 2 0.4 2.7
1.8m-1.9m 5 11 3 0.4 2.7
1.9m-2m 3 1 0.1 18
2m-2.25m 2 3 1 0.3 4
2.25m-2.5m 6 1 0 36
2.5m-2.75m 1 2 0.3 3
2.75m-3m 3 2 2 0.1 9
3m-3.5m 2 2 1 0.2 6
3.5m-4m 6 4 0.1 9
4m-4.5m 1 2 1 0.3 3
4.5m-5m 1 6 1 1 1
5.01m-6m 1 2 1 0.3 3
6.01m-7m 1 1 0.2 6
7.01m-8m 2 0
11.01m-12m 1 0

Townhouses 23% 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 1 0.2 0
201k-225k 1 1 0.2 6
226k-250k 1 1 0.2 6
251k-275k 2 2 0.2 6
276k-300k 9 6 0.1 9
301k-325k 2 6 0.5 2
326k-350k 17 19 3 0.2 5.4
351k-375k 1 0.2 0
376k-400k 4 7 2 0.3 3.4
401k-425k 2 4 0.3 3
426k-450k 4 1 0 24
451k-475k 2 3 1 0.3 4
476k-500k 1 0.2 0
551k-600k 1 1 0.2 0

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
151k-175k 2 1 0.3 0
176k-200k 1 1 0.2 0
201k-225k 1 1 0.2 0
226k-250k 2 0.3 0
251k-275k 1 0.2 0
276k-300k 1 1 0.2 0
451k-475k 1 0.2 0
551k-600k 1 1 0.2 0
601k-650k 1 0.2 0

Land 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 3 3 0.2 6
76k-100k 5 2 0.1 15
101k-125k 1 0.2 0
126k-150k 7 1 1 0 42
151k-175k 2 4 0.3 3
176k-200k 3 2 1 0.1 9
201k-225k 2 1 1 0.1 12
226k-250k 6 1 0 36
251k-275k 3 1 0.1 18
276k-300k 3 0
301k-325k 2 1 0.3 0
326k-350k 4 1 0 24
351k-375k 1 0
376k-400k 1 1 0.2 6
426k-450k 2 0
476k-500k 1 1 0.2 6
501k-550k 2 2 0.2 6
601k-650k 2 0.3 0
651k-700k 1 0
751k-800k 3 0
851k-900k 3 0
951k-1m 2 0
1m-1.1m 1 0.2 0
1.1m-1.2m 3 1 0.5 0
1.3m-1.4m 1 4 0.7 1.5
1.4m-1.5m 1 0.2 0
1.5m-1.6m 1 0
1.7m-1.8m 1 1 0.2 0
1.8m-1.9m 1 0.2 0
1.9m-2m 1 0.2 0
2m-2.25m 2 1 0.1 12
2.25m-2.5m 1 0
4.5m-5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0