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 27% 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 4 0.7 0
176k-200k 3 5 0.3 3.6
201k-225k 1 6 1 1
226k-250k 5 16 2 0.5 1.9
251k-275k 3 13 3 0.7 1.4
276k-300k 12 17 4 0.2 4.2
301k-325k 4 18 0.8 1.3
326k-350k 11 22 4 0.3 3
351k-375k 9 31 1 0.6 1.7
376k-400k 29 38 6 0.2 4.6
401k-425k 14 32 7 0.4 2.6
426k-450k 25 38 2 0.3 3.9
451k-475k 16 40 5 0.4 2.4
476k-500k 23 48 9 0.3 2.9
501k-550k 34 53 10 0.3 3.8
551k-600k 42 48 9 0.2 5.3
601k-650k 28 35 3 0.2 4.8
651k-700k 24 26 6 0.2 5.5
701k-750k 10 36 10 0.6 1.7
751k-800k 13 19 2 0.2 4.1
801k-850k 12 16 4 0.2 4.5
851k-900k 7 22 2 0.5 1.9
901k-950k 7 15 5 0.4 2.8
951k-1m 6 12 1 0.3 3
1m-1.1m 9 12 0.2 4.5
1.1m-1.2m 7 9 1 0.2 4.7
1.2m-1.3m 7 16 2 0.4 2.6
1.3m-1.4m 7 14 2 0.3 3
1.4m-1.5m 4 15 3 0.6 1.6
1.5m-1.6m 1 10 1 1.7 0.6
1.6m-1.7m 7 4 0.1 10.5
1.7m-1.8m 6 6 1 0.2 6
1.8m-1.9m 5 6 1 0.2 5
1.9m-2m 8 5 3 0.1 9.6
2m-2.25m 4 6 0.3 4
2.25m-2.5m 3 5 0.3 3.6
2.5m-2.75m 2 3 0.3 4
2.75m-3m 2 1 0.1 12
3m-3.5m 4 4 0.2 6
3.5m-4m 5 5 0.2 6
4m-4.5m 1 2 1 0.3 3
4.5m-5m 3 3 1 0.2 6
5.01m-6m 2 1 0.1 12
6.01m-7m 2 0
7.01m-8m 1 0
10.01m-11m 1 0.2 0
11.01m-12m 2 1 0.1 12

Townhouses 26% 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 1 0.2 0
226k-250k 3 2 0.1 9
251k-275k 5 8 1 0.3 3.8
276k-300k 1 9 2 1.5 0.7
301k-325k 4 9 2 0.4 2.7
326k-350k 15 20 4 0.2 4.5
351k-375k 2 6 0.5 2
376k-400k 5 4 0.1 7.5
401k-425k 3 4 2 0.2 4.5
426k-450k 1 1 0.2 6
451k-475k 2 0.3 0
476k-500k 1 0
501k-550k 2 0

Condos 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
151k-175k 2 0.3 0
176k-200k 1 0
226k-250k 2 3 0.3 4
251k-275k 1 0.2 0
276k-300k 1 0.2 0
301k-325k 1 0
326k-350k 2 0.3 0
351k-375k 1 1 0.2 6
451k-475k 1 0.2 0
551k-600k 1 0.2 0
651k-700k 1 1 0.2 0
2m-2.25m 1 0.2 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
51k-75k 3 3 0.2 6
76k-100k 8 2 1 0 24
101k-125k 1 1 0.2 0
126k-150k 4 3 1 0.1 8
151k-175k 5 2 0.1 15
176k-200k 7 2 1 0 21
201k-225k 3 0
226k-250k 6 1 0 36
251k-275k 4 0
276k-300k 5 2 0.1 15
301k-325k 1 0
326k-350k 2 1 0.1 12
351k-375k 3 0
376k-400k 2 1 0.1 12
426k-450k 1 0
451k-475k 1 2 0.3 3
476k-500k 2 2 0.2 6
501k-550k 1 0.2 0
551k-600k 1 0
601k-650k 3 0.5 0
651k-700k 1 0
751k-800k 4 0
801k-850k 1 2 0.3 3
851k-900k 3 0
951k-1m 2 0
1m-1.1m 1 0.2 0
1.1m-1.2m 1 1 0.2 6
1.2m-1.3m 1 0.2 0
1.3m-1.4m 1 1 0.2 6
1.4m-1.5m 1 2 0.3 3
1.7m-1.8m 1 1 0.2 0
1.8m-1.9m 1 0
1.9m-2m 1 0.2 0
2m-2.25m 2 0
2.5m-2.75m 1 0
2.75m-3m 1 0
4m-4.5m 1 0.2 0
4.5m-5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0