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 31% 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 1 0.2 6
126k-150k 2 2 0.3 0
151k-175k 2 0.3 0
176k-200k 1 2 0.3 3
201k-225k 2 5 2 0.4 2.4
226k-250k 2 10 3 0.8 1.2
251k-275k 7 17 2 0.4 2.5
276k-300k 14 16 2 0.2 5.3
301k-325k 9 9 2 0.2 6
326k-350k 16 31 14 0.3 3.1
351k-375k 12 27 4 0.4 2.7
376k-400k 23 49 7 0.4 2.8
401k-425k 24 35 6 0.2 4.1
426k-450k 15 31 8 0.3 2.9
451k-475k 21 22 6 0.2 5.7
476k-500k 15 36 6 0.4 2.5
501k-550k 26 69 23 0.4 2.3
551k-600k 25 51 13 0.3 2.9
601k-650k 23 31 5 0.2 4.5
651k-700k 15 24 5 0.3 3.8
701k-750k 13 32 3 0.4 2.4
751k-800k 10 16 7 0.3 3.8
801k-850k 10 15 0.3 4
851k-900k 16 13 1 0.1 7.4
901k-950k 7 6 2 0.1 7
951k-1m 8 7 3 0.1 6.9
1m-1.1m 7 6 1 0.1 7
1.1m-1.2m 8 6 3 0.1 8
1.2m-1.3m 12 9 1 0.1 8
1.3m-1.4m 5 7 2 0.2 4.3
1.4m-1.5m 11 9 0.1 7.3
1.5m-1.6m 6 9 6 0.3 4
1.6m-1.7m 7 7 0.2 6
1.7m-1.8m 5 6 0.2 5
1.8m-1.9m 6 8 2 0.2 4.5
1.9m-2m 6 1 0 36
2m-2.25m 8 3 1 0.1 16
2.25m-2.5m 4 5 3 0.2 4.8
2.5m-2.75m 1 4 1 0.7 1.5
2.75m-3m 5 4 0.1 7.5
3m-3.5m 2 2 1 0.2 6
3.5m-4m 4 2 0.1 12
4m-4.5m 4 2 1 0.1 12
4.5m-5m 1 6 1 1
5.01m-6m 2 2 0.2 6
6.01m-7m 3 0
7.01m-8m 3 0
9.01m-10m 1 0
10.01m-11m 1 0

Townhouses 28% 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 1 0.5 0
226k-250k 2 3 2 0.3 4
251k-275k 5 3 2 0.1 10
276k-300k 6 6 1 0.2 6
301k-325k 4 11 2 0.5 2.2
326k-350k 12 18 5 0.3 4
351k-375k 2 3 0.3 4
376k-400k 4 7 3 0.3 3.4
401k-425k 3 2 0.1 9
426k-450k 7 2 0 21
476k-500k 1 2 1 0.3 3
501k-550k 1 0.2 0
551k-600k 1 0

Condos 20% 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 2 0.3 3
176k-200k 2 0.3 0
201k-225k 1 0
226k-250k 1 0.2 0
251k-275k 1 0.2 0
501k-550k 1 0
551k-600k 1 0.2 0
601k-650k 2 1 0.3 0
1.7m-1.8m 1 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
51k-75k 3 3 0.2 6
76k-100k 5 2 0.1 15
101k-125k 1 0
126k-150k 6 1 1 0 36
151k-175k 3 4 0.2 4.5
176k-200k 3 2 0.1 9
201k-225k 2 0
226k-250k 5 3 0.1 10
251k-275k 3 1 1 0.1 18
276k-300k 4 1 0 24
326k-350k 5 0
351k-375k 2 0
376k-400k 2 1 0.1 12
426k-450k 3 0
476k-500k 1 0
501k-550k 1 0
551k-600k 2 1 0.3 0
651k-700k 1 0
701k-750k 1 0
751k-800k 5 1 1 0 30
801k-850k 1 1 0.2 0
851k-900k 4 0
901k-950k 1 0
1.1m-1.2m 2 0.3 0
1.3m-1.4m 1 3 0.5 2
1.4m-1.5m 1 0.2 0
1.5m-1.6m 1 0
1.7m-1.8m 1 0.2 0
1.8m-1.9m 1 0.2 0
2m-2.25m 1 1 0.2 6
2.25m-2.5m 1 0
2.75m-3m 1 0
3.5m-4m 1 0
4.5m-5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0