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 1 0.2 0
201k-225k 2 1 0.3 0
226k-250k 2 0
251k-275k 6 2 1 0
276k-300k 4 14 2 0.6 1.7
301k-325k 2 21 2 1.8 0.6
326k-350k 10 62 17 1 1
351k-375k 16 50 10 0.5 1.9
376k-400k 25 83 13 0.6 1.8
401k-425k 26 86 12 0.6 1.8
426k-450k 51 76 14 0.2 4
451k-475k 40 73 17 0.3 3.3
476k-500k 74 73 12 0.2 6.1
501k-550k 97 162 30 0.3 3.6
551k-600k 82 125 23 0.3 3.9
601k-650k 64 104 12 0.3 3.7
651k-700k 52 89 16 0.3 3.5
701k-750k 40 75 11 0.3 3.2
751k-800k 42 68 12 0.3 3.7
801k-850k 24 34 8 0.2 4.2
851k-900k 28 40 11 0.2 4.2
901k-950k 20 19 3 0.2 6.3
951k-1m 26 11 2 0.1 14.2
1m-1.1m 16 17 1 0.2 5.6
1.1m-1.2m 8 14 3 0.3 3.4
1.2m-1.3m 15 10 1 0.1 9
1.3m-1.4m 2 6 0.5 2
1.4m-1.5m 1 5 2 0.8 1.2
1.5m-1.6m 7 2 0 21
1.6m-1.7m 6 7 1 0.2 5.1
1.7m-1.8m 4 4 3 0.2 6
1.8m-1.9m 1 2 1 0.3 3
1.9m-2m 2 1 0.3 0
2m-2.25m 2 0
2.25m-2.5m 5 6 0.2 5
2.5m-2.75m 1 4 1 0.7 1.5
2.75m-3m 2 0
3m-3.5m 1 0
3.5m-4m 1 1 0.2 6
4m-4.5m 1 1 0.2 0
4.5m-5m 3 1 0.5 0

Townhouses 8% 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 2 4 1 0.3 3
201k-225k 6 4 1 0.1 9
226k-250k 12 12 0.2 6
251k-275k 14 11 3 0.1 7.6
276k-300k 12 8 2 0.1 9
301k-325k 4 11 4 0.5 2.2
326k-350k 17 20 4 0.2 5.1
351k-375k 16 11 3 0.1 8.7
376k-400k 9 9 1 0.2 6
401k-425k 6 2 1 0.1 18
426k-450k 4 0.7 0
451k-475k 1 0.2 0
476k-500k 1 0.2 0
501k-550k 2 0
551k-600k 2 0
601k-650k 1 0.2 0
651k-700k 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 0
176k-200k 2 0.3 0
201k-225k 1 0.2 0
226k-250k 2 0.3 0
251k-275k 2 0.3 0
276k-300k 3 0
301k-325k 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
26k-50k 1 0
101k-125k 1 0.2 0
151k-175k 1 0.2 0
176k-200k 2 1 0.1 12
251k-275k 1 0
276k-300k 1 4 1 0.7 1.5
326k-350k 1 0.2 0
351k-375k 1 0
376k-400k 2 1 0.1 12
401k-425k 1 1 0.2 6
426k-450k 1 1 0.2 6
451k-475k 1 0
476k-500k 4 0
501k-550k 1 0
551k-600k 1 2 0.3 3
601k-650k 1 0.2 0
651k-700k 1 2 1 0.3 3
701k-750k 1 1 0.2 6
801k-850k 1 0
951k-1m 3 0
1.1m-1.2m 1 0
1.4m-1.5m 1 1 0.2 0
3.5m-4m 1 0