Supply & Demand in Statesville, NC

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 1 0.2 0
26k-50k 1 0
51k-75k 1 0.2 0
76k-100k 7 1.2 0
101k-125k 3 3 0.2 6
126k-150k 5 10 0.3 3
151k-175k 5 12 2 0.4 2.5
176k-200k 9 12 2 0.2 4.5
201k-225k 16 22 4 0.2 4.4
226k-250k 21 37 2 0.3 3.4
251k-275k 26 42 6 0.3 3.7
276k-300k 30 45 7 0.3 4
301k-325k 32 39 2 0.2 4.9
326k-350k 27 60 10 0.4 2.7
351k-375k 19 29 3 0.3 3.9
376k-400k 19 32 4 0.3 3.6
401k-425k 12 15 0.2 4.8
426k-450k 14 9 1 0.1 9.3
451k-475k 11 11 1 0.2 6
476k-500k 10 16 2 0.3 3.8
501k-550k 7 11 3 0.3 3.8
551k-600k 9 9 2 0.2 6
601k-650k 5 7 2 0.2 4.3
651k-700k 8 3 0.1 16
701k-750k 4 5 1 0.2 4.8
751k-800k 3 4 1 0.2 4.5
801k-850k 6 6 2 0.2 6
851k-900k 2 1 0.1 12
901k-950k 2 1 0.3 0
951k-1m 2 1 1 0.1 12
1m-1.1m 2 3 0.3 4
1.1m-1.2m 3 0
1.2m-1.3m 1 0.2 0
1.3m-1.4m 1 0
1.4m-1.5m 1 0
1.7m-1.8m 1 0
2.5m-2.75m 1 0.2 0
3m-3.5m 1 0
3.5m-4m 1 0.2 0
5.01m-6m 1 0

Townhouses % 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 6
226k-250k 1 0
276k-300k 2 3 0.3 4
376k-400k 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 1 0.2 0
276k-300k 2 0.3 0
326k-350k 1 0

Land 16% 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 11 15 5 0.2 4.4
26k-50k 20 29 3 0.2 4.1
51k-75k 17 11 4 0.1 9.3
76k-100k 14 5 0.1 16.8
101k-125k 9 4 1 0.1 13.5
126k-150k 3 2 0.1 9
151k-175k 10 4 0.1 15
176k-200k 8 3 1 0.1 16
201k-225k 1 0
226k-250k 1 1 1 0.2 6
276k-300k 4 2 0.1 12
301k-325k 1 0
326k-350k 2 2 0.2 6
351k-375k 2 0.3 0
376k-400k 2 0
426k-450k 3 0
451k-475k 2 1 0.1 12
551k-600k 1 0
601k-650k 2 0
751k-800k 1 0
801k-850k 1 0.2 0
851k-900k 2 0
951k-1m 1 0
1.4m-1.5m 4 1 0 24
1.8m-1.9m 1 0
1.9m-2m 1 0
2.75m-3m 1 0
3m-3.5m 2 0
4.5m-5m 1 0