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 20% 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
101k-125k 2 1 0.3 0
126k-150k 1 5 1 0.8 1.2
151k-175k 4 9 3 0.4 2.7
176k-200k 4 16 7 0.7 1.5
201k-225k 4 24 4 1 1
226k-250k 11 45 9 0.7 1.5
251k-275k 15 73 12 0.8 1.2
276k-300k 33 150 42 0.8 1.3
301k-325k 54 240 61 0.7 1.4
326k-350k 117 361 80 0.5 1.9
351k-375k 137 374 69 0.5 2.2
376k-400k 186 407 91 0.4 2.7
401k-425k 134 301 61 0.4 2.7
426k-450k 136 305 64 0.4 2.7
451k-475k 110 232 43 0.4 2.8
476k-500k 134 206 54 0.3 3.9
501k-550k 193 378 83 0.3 3.1
551k-600k 183 318 61 0.3 3.5
601k-650k 118 277 65 0.4 2.6
651k-700k 105 221 49 0.4 2.9
701k-750k 103 197 42 0.3 3.1
751k-800k 111 138 30 0.2 4.8
801k-850k 68 129 30 0.3 3.2
851k-900k 90 103 22 0.2 5.2
901k-950k 59 63 11 0.2 5.6
951k-1m 72 64 15 0.1 6.8
1m-1.1m 71 84 18 0.2 5.1
1.1m-1.2m 55 83 18 0.3 4
1.2m-1.3m 64 67 16 0.2 5.7
1.3m-1.4m 49 63 16 0.2 4.7
1.4m-1.5m 36 55 10 0.3 3.9
1.5m-1.6m 20 30 3 0.3 4
1.6m-1.7m 31 25 4 0.1 7.4
1.7m-1.8m 14 24 7 0.3 3.5
1.8m-1.9m 26 15 2 0.1 10.4
1.9m-2m 23 14 1 0.1 9.9
2m-2.25m 32 32 3 0.2 6
2.25m-2.5m 38 20 5 0.1 11.4
2.5m-2.75m 12 12 1 0.2 6
2.75m-3m 17 12 3 0.1 8.5
3m-3.5m 19 19 2 0.2 6
3.5m-4m 15 14 2 0.2 6.4
4m-4.5m 5 5 2 0.2 6
4.5m-5m 9 4 1 0.1 13.5
5.01m-6m 11 4 1 0.1 16.5
6.01m-7m 2 7 1 0.6 1.7
7.01m-8m 1 4 0.7 1.5
8.01m-9m 6 1 0 36
9.01m-10m 3 1 0.1 18
11.01m-12m 2 1 0.1 12
12.01m-13m 2 0
13.01m-14m 1 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
51k-75k 1 3 0.5 2
76k-100k 2 2 0.2 6
101k-125k 6 11 0.3 3.3
126k-150k 11 14 3 0.2 4.7
151k-175k 25 27 5 0.2 5.6
176k-200k 37 43 6 0.2 5.2
201k-225k 39 53 10 0.2 4.4
226k-250k 57 54 13 0.2 6.3
251k-275k 39 53 10 0.2 4.4
276k-300k 71 92 25 0.2 4.6
301k-325k 56 87 17 0.3 3.9
326k-350k 51 86 19 0.3 3.6
351k-375k 52 27 8 0.1 11.6
376k-400k 33 50 12 0.3 4
401k-425k 20 41 5 0.3 2.9
426k-450k 36 29 6 0.1 7.4
451k-475k 21 32 7 0.3 3.9
476k-500k 29 24 5 0.1 7.3
501k-550k 40 33 9 0.1 7.3
551k-600k 18 26 5 0.2 4.2
601k-650k 17 30 1 0.3 3.4
651k-700k 12 22 3 0.3 3.3
701k-750k 7 14 0.3 3
751k-800k 13 10 1 0.1 7.8
801k-850k 4 3 1 0.1 8
851k-900k 6 1 0 36
901k-950k 4 1 1 0 24
951k-1m 3 0
1m-1.1m 2 3 1 0.3 4
1.1m-1.2m 1 4 0.7 1.5
1.2m-1.3m 1 2 0.3 3
1.3m-1.4m 2 3 0.3 4
1.4m-1.5m 3 0.5 0
1.5m-1.6m 1 0
1.8m-1.9m 1 1 0.2 6
1.9m-2m 1 0
2.25m-2.5m 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 6 1 0 36
76k-100k 9 7 0.1 7.7
101k-125k 8 12 2 0.3 4
126k-150k 37 18 7 0.1 12.3
151k-175k 29 32 8 0.2 5.4
176k-200k 61 31 7 0.1 11.8
201k-225k 39 35 5 0.1 6.7
226k-250k 60 59 10 0.2 6.1
251k-275k 59 42 13 0.1 8.4
276k-300k 55 36 12 0.1 9.2
301k-325k 38 32 5 0.1 7.1
326k-350k 30 22 8 0.1 8.2
351k-375k 21 18 1 0.1 7
376k-400k 28 16 5 0.1 10.5
401k-425k 16 18 6 0.2 5.3
426k-450k 29 15 2 0.1 11.6
451k-475k 9 9 2 0.2 6
476k-500k 16 18 4 0.2 5.3
501k-550k 12 20 5 0.3 3.6
551k-600k 16 4 2 0 24
601k-650k 6 6 1 0.2 6
651k-700k 5 5 1 0.2 6
701k-750k 3 3 0.2 6
751k-800k 6 0
801k-850k 2 1 0.1 12
851k-900k 3 0
901k-950k 1 0
951k-1m 6 0
1m-1.1m 3 4 0.2 4.5
1.1m-1.2m 4 2 1 0.1 12
1.2m-1.3m 6 4 0.1 9
1.3m-1.4m 4 2 0.1 12
1.4m-1.5m 1 4 1 0.7 1.5
1.5m-1.6m 1 3 0.5 2
1.7m-1.8m 1 0
1.8m-1.9m 1 0.2 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 1 0.2 6
3m-3.5m 2 2 1 0.2 6
4m-4.5m 1 1 0.2 6
4.5m-5m 1 1 0.2 6

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 5 1 1 0 30
26k-50k 3 0.5 0
51k-75k 2 0
76k-100k 3 5 0.3 3.6
101k-125k 7 9 2 0.2 4.7
126k-150k 8 11 1 0.2 4.4
151k-175k 7 4 2 0.1 10.5
176k-200k 13 3 1 0 26
201k-225k 9 3 2 0.1 18
226k-250k 14 6 0.1 14
251k-275k 4 3 2 0.1 8
276k-300k 14 4 1 0 21
301k-325k 5 2 0.1 15
326k-350k 17 3 2 0 34
351k-375k 5 2 1 0.1 15
376k-400k 8 6 3 0.1 8
401k-425k 2 4 0.3 3
426k-450k 10 0
451k-475k 3 0
476k-500k 14 3 0 28
501k-550k 4 0
551k-600k 11 1 1 0 66
601k-650k 2 0
651k-700k 6 1 1 0 36
701k-750k 7 1 1 0 42
751k-800k 2 2 0.2 6
801k-850k 4 2 0.1 12
851k-900k 7 0
901k-950k 3 1 0.1 18
951k-1m 4 1 0 24
1m-1.1m 5 0
1.1m-1.2m 6 0
1.2m-1.3m 5 0
1.3m-1.4m 1 2 2 0.3 3
1.4m-1.5m 3 2 0.1 9
1.5m-1.6m 1 2 0.3 3
1.6m-1.7m 3 0
1.7m-1.8m 2 1 0.1 12
1.8m-1.9m 1 0
1.9m-2m 3 0
2m-2.25m 1 1 0.2 6
2.25m-2.5m 5 0
2.5m-2.75m 2 0.3 0
2.75m-3m 4 0
3m-3.5m 2 0
3.5m-4m 1 0.2 0
4m-4.5m 2 0
5.01m-6m 1 1 1 0.2 6
6.01m-7m 2 0
12.01m-13m 1 0