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 21% 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 1 1 0.1 12
76k-100k 1 0.2 0
101k-125k 1 0.2 0
126k-150k 5 0.8 0
151k-175k 5 8 1 0.3 3.8
176k-200k 8 13 3 0.3 3.7
201k-225k 3 22 5 1.2 0.8
226k-250k 12 50 10 0.7 1.4
251k-275k 12 75 22 1 1
276k-300k 48 137 26 0.5 2.1
301k-325k 60 200 35 0.6 1.8
326k-350k 112 338 72 0.5 2
351k-375k 112 362 72 0.5 1.9
376k-400k 172 328 76 0.3 3.1
401k-425k 115 291 67 0.4 2.4
426k-450k 120 283 69 0.4 2.5
451k-475k 91 216 46 0.4 2.5
476k-500k 116 195 48 0.3 3.6
501k-550k 150 355 73 0.4 2.5
551k-600k 164 276 55 0.3 3.6
601k-650k 118 239 48 0.3 3
651k-700k 116 192 41 0.3 3.6
701k-750k 94 182 37 0.3 3.1
751k-800k 88 129 34 0.2 4.1
801k-850k 65 107 19 0.3 3.6
851k-900k 79 90 19 0.2 5.3
901k-950k 45 70 11 0.3 3.9
951k-1m 52 52 6 0.2 6
1m-1.1m 63 66 14 0.2 5.7
1.1m-1.2m 59 83 18 0.2 4.3
1.2m-1.3m 58 58 12 0.2 6
1.3m-1.4m 33 46 11 0.2 4.3
1.4m-1.5m 50 45 12 0.2 6.7
1.5m-1.6m 22 26 2 0.2 5.1
1.6m-1.7m 27 29 6 0.2 5.6
1.7m-1.8m 17 17 5 0.2 6
1.8m-1.9m 26 19 3 0.1 8.2
1.9m-2m 18 8 0.1 13.5
2m-2.25m 24 32 8 0.2 4.5
2.25m-2.5m 27 14 1 0.1 11.6
2.5m-2.75m 17 9 2 0.1 11.3
2.75m-3m 18 12 0.1 9
3m-3.5m 18 17 0.2 6.4
3.5m-4m 12 13 5 0.2 5.5
4m-4.5m 7 5 2 0.1 8.4
4.5m-5m 5 3 2 0.1 10
5.01m-6m 14 2 1 0 42
6.01m-7m 8 7 1 0.1 6.9
7.01m-8m 2 4 0.3 3
8.01m-9m 3 0
9.01m-10m 2 2 0.2 6
10.01m-11m 1 0
11.01m-12m 1 1 0.2 6
12.01m-13m 3 0
13.01m-14m 1 0
23.01m-24m 1 0

Townhouses 12% 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 0.2 0
51k-75k 3 0.5 0
76k-100k 2 3 2 0.3 4
101k-125k 3 13 4 0.7 1.4
126k-150k 14 17 4 0.2 4.9
151k-175k 24 20 5 0.1 7.2
176k-200k 38 33 8 0.1 6.9
201k-225k 41 51 7 0.2 4.8
226k-250k 47 47 8 0.2 6
251k-275k 54 53 15 0.2 6.1
276k-300k 61 88 13 0.2 4.2
301k-325k 57 71 13 0.2 4.8
326k-350k 58 69 20 0.2 5
351k-375k 42 27 7 0.1 9.3
376k-400k 43 39 15 0.2 6.6
401k-425k 18 47 10 0.4 2.3
426k-450k 30 26 7 0.1 6.9
451k-475k 21 24 9 0.2 5.3
476k-500k 26 19 3 0.1 8.2
501k-550k 25 35 10 0.2 4.3
551k-600k 21 27 2 0.2 4.7
601k-650k 23 26 4 0.2 5.3
651k-700k 7 19 1 0.5 2.2
701k-750k 5 21 6 0.7 1.4
751k-800k 15 7 3 0.1 12.9
801k-850k 6 3 0.1 12
851k-900k 4 1 0 24
901k-950k 2 0
951k-1m 2 0
1m-1.1m 2 3 0.3 4
1.1m-1.2m 1 2 0.3 3
1.2m-1.3m 1 2 2 0.3 3
1.3m-1.4m 2 0.3 0
1.4m-1.5m 2 4 1 0.3 3
1.5m-1.6m 3 0
1.8m-1.9m 1 0.2 0
1.9m-2m 2 0
2.25m-2.5m 1 0
3m-3.5m 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 3 0
51k-75k 3 1 0.1 18
76k-100k 9 6 2 0.1 9
101k-125k 10 6 1 0.1 10
126k-150k 31 14 0.1 13.3
151k-175k 35 24 6 0.1 8.8
176k-200k 42 32 5 0.1 7.9
201k-225k 47 38 11 0.1 7.4
226k-250k 57 43 13 0.1 8
251k-275k 52 41 6 0.1 7.6
276k-300k 56 30 3 0.1 11.2
301k-325k 36 36 7 0.2 6
326k-350k 31 19 3 0.1 9.8
351k-375k 25 13 3 0.1 11.5
376k-400k 35 20 5 0.1 10.5
401k-425k 21 17 0.1 7.4
426k-450k 28 13 3 0.1 12.9
451k-475k 10 8 1 0.1 7.5
476k-500k 18 11 3 0.1 9.8
501k-550k 27 10 5 0.1 16.2
551k-600k 15 5 0.1 18
601k-650k 12 12 3 0.2 6
651k-700k 6 3 2 0.1 12
701k-750k 4 3 0.1 8
751k-800k 2 0
801k-850k 6 0
851k-900k 4 0
901k-950k 1 0
951k-1m 1 0
1m-1.1m 5 3 0.1 10
1.1m-1.2m 5 1 1 0 30
1.2m-1.3m 6 7 1 0.2 5.1
1.3m-1.4m 2 2 0.2 6
1.4m-1.5m 6 1 0 36
1.5m-1.6m 1 4 1 0.7 1.5
1.6m-1.7m 1 0
1.7m-1.8m 1 0
1.8m-1.9m 1 0.2 0
1.9m-2m 2 0
2m-2.25m 1 0
2.25m-2.5m 1 0
2.5m-2.75m 1 1 0.2 6
2.75m-3m 1 0
3m-3.5m 4 1 1 0 24
4m-4.5m 1 1 0.2 6
4.5m-5m 2 0

Land 4% 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 4 0
26k-50k 1 3 0.5 2
51k-75k 1 2 0.3 3
76k-100k 2 2 1 0.2 6
101k-125k 7 7 2 0.2 6
126k-150k 12 14 5 0.2 5.1
151k-175k 13 3 0 26
176k-200k 9 7 1 0.1 7.7
201k-225k 6 3 2 0.1 12
226k-250k 10 9 3 0.2 6.7
251k-275k 6 1 1 0 36
276k-300k 10 6 2 0.1 10
301k-325k 5 2 1 0.1 15
326k-350k 14 1 0 84
351k-375k 5 1 0 30
376k-400k 11 2 0 33
401k-425k 1 5 0.8 1.2
426k-450k 11 0
451k-475k 5 0
476k-500k 15 3 0 30
501k-550k 4 0
551k-600k 11 0
601k-650k 4 0
651k-700k 7 0
701k-750k 6 0
751k-800k 4 2 0.1 12
801k-850k 5 2 1 0.1 15
851k-900k 3 0
901k-950k 5 1 1 0 30
951k-1m 4 2 0.1 12
1m-1.1m 6 0
1.1m-1.2m 5 0
1.2m-1.3m 3 1 0.1 18
1.3m-1.4m 1 0.2 0
1.4m-1.5m 7 2 0 21
1.5m-1.6m 1 2 1 0.3 3
1.6m-1.7m 3 0
1.7m-1.8m 2 1 0.1 12
1.9m-2m 2 1 0.1 12
2m-2.25m 1 1 0.2 6
2.25m-2.5m 5 1 0 30
2.5m-2.75m 2 1 0.3 0
2.75m-3m 3 0
3m-3.5m 1 0
3.5m-4m 1 1 1 0.2 6
4m-4.5m 2 0
5.01m-6m 2 0
6.01m-7m 1 0
12.01m-13m 1 0
23.01m-24m 1 0