Supply & Demand in Peoria, 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 19% 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
176k-200k 1 0.2 0
201k-225k 1 0.2 0
226k-250k 2 1 0.3 0
251k-275k 1 4 0.7 1.5
276k-300k 2 6 1 0.5 2
301k-325k 2 13 1 1.1 0.9
326k-350k 11 36 7 0.5 1.8
351k-375k 24 80 17 0.6 1.8
376k-400k 35 107 14 0.5 2
401k-425k 37 80 10 0.4 2.8
426k-450k 38 106 18 0.5 2.2
451k-475k 36 83 13 0.4 2.6
476k-500k 46 88 24 0.3 3.1
501k-550k 92 156 18 0.3 3.5
551k-600k 72 132 21 0.3 3.3
601k-650k 54 115 21 0.4 2.8
651k-700k 68 94 21 0.2 4.3
701k-750k 36 78 13 0.4 2.8
751k-800k 41 60 8 0.2 4.1
801k-850k 27 41 8 0.3 4
851k-900k 24 29 3 0.2 5
901k-950k 24 24 8 0.2 6
951k-1m 13 14 2 0.2 5.6
1m-1.1m 12 25 2 0.3 2.9
1.1m-1.2m 10 16 4 0.3 3.8
1.2m-1.3m 9 6 1 0.1 9
1.3m-1.4m 5 8 2 0.3 3.8
1.4m-1.5m 5 7 1 0.2 4.3
1.5m-1.6m 2 3 0.3 4
1.6m-1.7m 1 3 2 0.5 2
1.7m-1.8m 3 3 0.2 6
1.8m-1.9m 1 1 0.2 0
1.9m-2m 5 2 0.1 15
2m-2.25m 2 3 0.3 4
2.25m-2.5m 2 1 1 0.1 12
2.5m-2.75m 1 1 0.2 6
2.75m-3m 2 0

Townhouses 13% 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
176k-200k 1 5 2 0.8 1.2
201k-225k 1 7 3 1.2 0.9
226k-250k 7 16 4 0.4 2.6
251k-275k 7 18 1 0.4 2.3
276k-300k 6 18 2 0.5 2
301k-325k 3 8 2 0.4 2.3
326k-350k 4 10 2 0.4 2.4
351k-375k 10 11 0.2 5.5
376k-400k 6 12 4 0.3 3
401k-425k 6 4 0.1 9
426k-450k 2 6 1 0.5 2
451k-475k 1 0.2 0
476k-500k 1 0
501k-550k 1 0.2 0
551k-600k 1 1 0.2 6
601k-650k 1 0

Condos 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
176k-200k 3 0
226k-250k 1 2 0.3 3
276k-300k 2 0
301k-325k 1 0.2 0
326k-350k 2 1 0.3 0

Land 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
1k-25k 1 1 0.2 0
101k-125k 1 0
126k-150k 1 0
151k-175k 1 0
176k-200k 1 0
201k-225k 1 1 0.2 0
226k-250k 2 2 0.2 6
251k-275k 1 0.2 0
276k-300k 1 0
301k-325k 1 0
351k-375k 3 0.5 0
376k-400k 3 0
426k-450k 2 2 0.2 6
451k-475k 3 0
476k-500k 2 1 0.1 12
501k-550k 4 1 0.7 0
551k-600k 1 4 1 0.7 1.5
601k-650k 1 0
651k-700k 3 0
951k-1m 1 0
1.1m-1.2m 1 0
2.5m-2.75m 1 0
3.5m-4m 1 0