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 17% 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
76k-100k 2 0.3 0
101k-125k 2 1 0.3 0
126k-150k 1 5 0.8 1.2
151k-175k 2 8 1 0.7 1.5
176k-200k 5 13 4 0.4 2.3
201k-225k 6 19 9 0.5 1.9
226k-250k 12 59 14 0.8 1.2
251k-275k 14 57 9 0.7 1.5
276k-300k 48 127 37 0.4 2.3
301k-325k 60 219 42 0.6 1.6
326k-350k 110 351 53 0.5 1.9
351k-375k 121 361 60 0.5 2
376k-400k 168 353 61 0.4 2.9
401k-425k 119 304 45 0.4 2.3
426k-450k 158 264 47 0.3 3.6
451k-475k 101 203 32 0.3 3
476k-500k 97 219 33 0.4 2.7
501k-550k 157 330 41 0.4 2.9
551k-600k 130 283 42 0.4 2.8
601k-650k 116 228 39 0.3 3.1
651k-700k 108 188 22 0.3 3.4
701k-750k 85 178 29 0.3 2.9
751k-800k 73 130 21 0.3 3.4
801k-850k 66 110 17 0.3 3.6
851k-900k 58 91 19 0.3 3.8
901k-950k 35 76 7 0.4 2.8
951k-1m 50 59 11 0.2 5.1
1m-1.1m 49 79 10 0.3 3.7
1.1m-1.2m 42 80 11 0.3 3.2
1.2m-1.3m 55 53 3 0.2 6.2
1.3m-1.4m 38 39 6 0.2 5.8
1.4m-1.5m 44 42 8 0.2 6.3
1.5m-1.6m 21 26 3 0.2 4.8
1.6m-1.7m 19 30 6 0.3 3.8
1.7m-1.8m 22 16 2 0.1 8.3
1.8m-1.9m 20 23 3 0.2 5.2
1.9m-2m 22 6 4 0 22
2m-2.25m 17 27 5 0.3 3.8
2.25m-2.5m 28 18 5 0.1 9.3
2.5m-2.75m 8 8 1 0.2 6
2.75m-3m 15 12 5 0.1 7.5
3m-3.5m 10 17 3 0.3 3.5
3.5m-4m 14 9 1 0.1 9.3
4m-4.5m 6 3 0.1 12
4.5m-5m 7 2 0 21
5.01m-6m 9 1 0 54
6.01m-7m 7 7 1 0.2 6
7.01m-8m 2 3 1 0.3 4
8.01m-9m 3 0
9.01m-10m 2 2 0.2 6
10.01m-11m 1 0
12.01m-13m 3 1 1 0.1 18
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 1 2 0.3 3
76k-100k 3 5 0.3 3.6
101k-125k 2 10 2 0.8 1.2
126k-150k 10 16 5 0.3 3.8
151k-175k 12 20 6 0.3 3.6
176k-200k 34 32 7 0.2 6.4
201k-225k 48 55 5 0.2 5.2
226k-250k 39 45 11 0.2 5.2
251k-275k 40 54 8 0.2 4.4
276k-300k 50 98 8 0.3 3.1
301k-325k 48 63 10 0.2 4.6
326k-350k 43 59 14 0.2 4.4
351k-375k 41 31 7 0.1 7.9
376k-400k 33 36 3 0.2 5.5
401k-425k 19 45 5 0.4 2.5
426k-450k 12 24 5 0.3 3
451k-475k 19 20 0.2 5.7
476k-500k 33 26 4 0.1 7.6
501k-550k 30 34 5 0.2 5.3
551k-600k 16 29 7 0.3 3.3
601k-650k 16 32 5 0.3 3
651k-700k 11 28 5 0.4 2.4
701k-750k 7 14 4 0.3 3
751k-800k 8 7 3 0.1 6.9
801k-850k 5 2 0.1 15
851k-900k 3 0
901k-950k 3 0
951k-1m 1 0
1m-1.1m 4 3 1 0.1 8
1.1m-1.2m 1 1 0.2 6
1.2m-1.3m 3 1 0.1 18
1.3m-1.4m 3 2 0.1 9
1.4m-1.5m 1 3 0.5 2
1.5m-1.6m 3 1 0.1 18
1.8m-1.9m 1 1 0.2 0
1.9m-2m 2 0
2.25m-2.5m 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 1 0
51k-75k 2 2 1 0.2 6
76k-100k 10 0
101k-125k 11 11 3 0.2 6
126k-150k 23 16 4 0.1 8.6
151k-175k 30 19 2 0.1 9.5
176k-200k 40 36 7 0.2 6.7
201k-225k 33 33 6 0.2 6
226k-250k 57 36 5 0.1 9.5
251k-275k 47 38 6 0.1 7.4
276k-300k 47 38 4 0.1 7.4
301k-325k 28 33 4 0.2 5.1
326k-350k 30 24 4 0.1 7.5
351k-375k 23 14 3 0.1 9.9
376k-400k 28 20 2 0.1 8.4
401k-425k 18 19 4 0.2 5.7
426k-450k 18 14 1 0.1 7.7
451k-475k 10 6 1 0.1 10
476k-500k 8 9 2 0.2 5.3
501k-550k 24 6 2 0 24
551k-600k 18 10 0.1 10.8
601k-650k 10 9 1 0.2 6.7
651k-700k 4 5 0.2 4.8
701k-750k 3 3 0.2 6
751k-800k 1 0
801k-850k 4 1 0 24
851k-900k 5 0
901k-950k 1 1 0.2 6
951k-1m 1 0
1m-1.1m 4 3 1 0.1 8
1.1m-1.2m 5 1 0 30
1.2m-1.3m 4 7 1 0.3 3.4
1.3m-1.4m 4 1 0 24
1.4m-1.5m 4 2 1 0.1 12
1.5m-1.6m 2 2 0.2 6
1.7m-1.8m 1 0
1.8m-1.9m 1 0.2 0
2m-2.25m 1 0
2.5m-2.75m 1 1 0.2 6
2.75m-3m 2 0
3m-3.5m 5 0
4m-4.5m 2 0
5.01m-6m 1 0

Land 6% 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 5 0
26k-50k 3 0.5 0
51k-75k 1 3 0.5 2
76k-100k 4 5 0.2 4.8
101k-125k 5 6 1 0.2 5
126k-150k 12 12 2 0.2 6
151k-175k 12 3 0 24
176k-200k 9 6 0.1 9
201k-225k 8 2 0 24
226k-250k 6 7 0.2 5.1
251k-275k 7 0
276k-300k 13 5 0.1 15.6
301k-325k 6 1 0 36
326k-350k 7 3 0.1 14
351k-375k 5 1 0 30
376k-400k 15 4 2 0 22.5
401k-425k 5 2 0.8 0
426k-450k 11 0
451k-475k 5 0
476k-500k 13 3 2 0 26
501k-550k 5 2 0.1 15
551k-600k 6 1 0 36
601k-650k 5 0
651k-700k 9 0
701k-750k 5 0
751k-800k 3 2 1 0.1 9
801k-850k 8 1 0 48
851k-900k 1 0
901k-950k 5 0
951k-1m 4 2 0.1 12
1m-1.1m 4 1 1 0 24
1.1m-1.2m 4 0
1.2m-1.3m 3 1 0.1 18
1.3m-1.4m 1 1 0.2 6
1.4m-1.5m 4 2 0.1 12
1.5m-1.6m 2 1 0.1 12
1.6m-1.7m 2 0
1.7m-1.8m 3 1 0.1 18
1.9m-2m 2 1 0.1 12
2m-2.25m 1 1 0.2 6
2.25m-2.5m 3 1 0.1 18
2.5m-2.75m 1 1 0.2 6
2.75m-3m 4 0
3m-3.5m 2 1 0.1 12
3.5m-4m 2 0
4m-4.5m 2 0
4.5m-5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0
12.01m-13m 1 0
23.01m-24m 1 0