Supply & Demand in Phoenix, 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 18% 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 2 0
76k-100k 2 1 0.3 0
101k-125k 1 0.2 0
126k-150k 5 0.8 0
151k-175k 4 8 1 0.3 3
176k-200k 6 15 7 0.4 2.4
201k-225k 3 17 3 0.9 1.1
226k-250k 12 50 6 0.7 1.4
251k-275k 15 58 9 0.6 1.6
276k-300k 46 120 24 0.4 2.3
301k-325k 86 195 33 0.4 2.6
326k-350k 127 360 69 0.5 2.1
351k-375k 162 375 71 0.4 2.6
376k-400k 200 379 71 0.3 3.2
401k-425k 113 318 39 0.5 2.1
426k-450k 148 289 46 0.3 3.1
451k-475k 101 197 32 0.3 3.1
476k-500k 114 229 35 0.3 3
501k-550k 162 347 64 0.4 2.8
551k-600k 138 289 56 0.3 2.9
601k-650k 130 238 41 0.3 3.3
651k-700k 116 213 38 0.3 3.3
701k-750k 77 181 28 0.4 2.6
751k-800k 84 134 23 0.3 3.8
801k-850k 65 111 26 0.3 3.5
851k-900k 50 95 11 0.3 3.2
901k-950k 27 75 12 0.5 2.2
951k-1m 41 58 8 0.2 4.2
1m-1.1m 54 91 15 0.3 3.6
1.1m-1.2m 55 82 13 0.2 4
1.2m-1.3m 60 59 12 0.2 6.1
1.3m-1.4m 40 41 5 0.2 5.9
1.4m-1.5m 41 38 10 0.2 6.5
1.5m-1.6m 17 30 6 0.3 3.4
1.6m-1.7m 17 27 3 0.3 3.8
1.7m-1.8m 19 24 2 0.2 4.8
1.8m-1.9m 23 21 2 0.2 6.6
1.9m-2m 18 4 2 0 27
2m-2.25m 19 28 2 0.2 4.1
2.25m-2.5m 27 17 2 0.1 9.5
2.5m-2.75m 8 7 1 0.1 6.9
2.75m-3m 16 5 1 0.1 19.2
3m-3.5m 10 16 4 0.3 3.8
3.5m-4m 9 13 1 0.2 4.2
4m-4.5m 7 4 2 0.1 10.5
4.5m-5m 6 2 0.1 18
5.01m-6m 8 2 1 0 24
6.01m-7m 7 5 3 0.1 8.4
7.01m-8m 2 1 1 0.1 12
8.01m-9m 4 0
9.01m-10m 1 3 0.5 2
12.01m-13m 3 0
13.01m-14m 1 0
14.01m-15m 1 0
23.01m-24m 1 0

Townhouses 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
51k-75k 2 0.3 0
76k-100k 2 7 2 0.6 1.7
101k-125k 5 11 2 0.4 2.7
126k-150k 9 16 4 0.3 3.4
151k-175k 15 18 4 0.2 5
176k-200k 32 30 4 0.2 6.4
201k-225k 41 54 11 0.2 4.6
226k-250k 38 54 15 0.2 4.2
251k-275k 45 52 9 0.2 5.2
276k-300k 47 108 26 0.4 2.6
301k-325k 51 59 15 0.2 5.2
326k-350k 45 62 8 0.2 4.4
351k-375k 38 29 1 0.1 7.9
376k-400k 40 44 9 0.2 5.5
401k-425k 20 38 6 0.3 3.2
426k-450k 24 27 3 0.2 5.3
451k-475k 11 21 5 0.3 3.1
476k-500k 26 28 6 0.2 5.6
501k-550k 24 35 6 0.2 4.1
551k-600k 17 27 7 0.3 3.8
601k-650k 18 31 5 0.3 3.5
651k-700k 15 34 6 0.4 2.6
701k-750k 11 12 3 0.2 5.5
751k-800k 12 5 1 0.1 14.4
801k-850k 5 3 1 0.1 10
851k-900k 4 2 0.1 12
901k-950k 1 1 0.2 6
1m-1.1m 3 2 1 0.1 9
1.1m-1.2m 1 2 1 0.3 3
1.2m-1.3m 2 1 0.1 12
1.3m-1.4m 1 3 0.5 2
1.4m-1.5m 1 3 2 0.5 2
1.5m-1.6m 3 1 0.1 18
1.9m-2m 2 0
2.25m-2.5m 1 0
2.75m-3m 1 0
3.5m-4m 1 0
4m-4.5m 1 0

Condos 7% 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 0
51k-75k 2 1 0.1 12
76k-100k 6 1 0 36
101k-125k 12 10 4 0.1 7.2
126k-150k 22 9 1 0.1 14.7
151k-175k 23 25 1 0.2 5.5
176k-200k 43 27 2 0.1 9.6
201k-225k 33 33 7 0.2 6
226k-250k 57 41 9 0.1 8.3
251k-275k 54 43 4 0.1 7.5
276k-300k 54 38 6 0.1 8.5
301k-325k 25 39 6 0.3 3.8
326k-350k 21 26 1 0.2 4.8
351k-375k 21 14 1 0.1 9
376k-400k 26 28 4 0.2 5.6
401k-425k 20 18 5 0.2 6.7
426k-450k 19 13 2 0.1 8.8
451k-475k 13 3 0 26
476k-500k 9 9 1 0.2 6
501k-550k 21 6 0 21
551k-600k 17 11 1 0.1 9.3
601k-650k 8 8 0.2 6
651k-700k 5 6 1 0.2 5
701k-750k 2 2 1 0.2 6
751k-800k 1 1 1 0.2 6
801k-850k 1 1 0.2 6
851k-900k 5 0
901k-950k 1 1 0.2 6
951k-1m 1 0
1m-1.1m 1 1 0.2 6
1.1m-1.2m 6 3 1 0.1 12
1.2m-1.3m 5 7 1 0.2 4.3
1.3m-1.4m 1 1 0.2 6
1.4m-1.5m 3 1 1 0.1 18
1.5m-1.6m 3 2 1 0.1 9
1.8m-1.9m 1 1 0.2 0
2m-2.25m 1 0
2.5m-2.75m 1 1 1 0.2 6
2.75m-3m 1 0
3m-3.5m 4 0
4m-4.5m 1 0
5.01m-6m 1 0

Land 9% 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 3 0
26k-50k 4 3 0.7 0
51k-75k 1 3 1 0.5 2
76k-100k 6 5 1 0.1 7.2
101k-125k 5 6 1 0.2 5
126k-150k 10 11 1 0.2 5.5
151k-175k 10 8 0.1 7.5
176k-200k 11 6 2 0.1 11
201k-225k 5 3 0.1 10
226k-250k 7 9 2 0.2 4.7
251k-275k 5 0
276k-300k 17 5 0 20.4
301k-325k 4 3 0.1 8
326k-350k 8 4 0.1 12
351k-375k 4 2 0.1 12
376k-400k 18 1 0 108
401k-425k 1 2 1 0.3 3
426k-450k 14 1 0 84
451k-475k 5 0
476k-500k 11 0
501k-550k 7 2 0 21
551k-600k 6 1 0 36
601k-650k 6 0
651k-700k 9 2 1 0 27
701k-750k 4 0
751k-800k 3 2 1 0.1 9
801k-850k 7 0
851k-900k 4 0
901k-950k 2 1 1 0.1 12
951k-1m 4 2 0.1 12
1m-1.1m 6 1 1 0 36
1.1m-1.2m 4 0
1.2m-1.3m 4 1 0 24
1.3m-1.4m 2 2 0.2 6
1.4m-1.5m 5 1 1 0 30
1.5m-1.6m 2 0
1.6m-1.7m 2 1 1 0.1 12
1.7m-1.8m 4 0
1.9m-2m 3 3 1 0.2 6
2m-2.25m 1 0
2.25m-2.5m 3 3 0.2 6
2.5m-2.75m 1 1 1 0.2 6
2.75m-3m 4 0
3m-3.5m 2 1 0.1 12
3.5m-4m 1 1 0.2 6
4m-4.5m 2 0
4.5m-5m 1 0
5.01m-6m 3 1 0.1 18
6.01m-7m 1 0
23.01m-24m 1 0