Supply & Demand in Surprise, 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
226k-250k 2 1 0.3 0
251k-275k 4 0.7 0
276k-300k 10 19 8 0.3 3.2
301k-325k 18 51 11 0.5 2.1
326k-350k 42 134 25 0.5 1.9
351k-375k 90 173 27 0.3 3.1
376k-400k 158 253 48 0.3 3.7
401k-425k 151 237 43 0.3 3.8
426k-450k 149 163 29 0.2 5.5
451k-475k 117 118 36 0.2 5.9
476k-500k 126 113 23 0.1 6.7
501k-550k 141 151 28 0.2 5.6
551k-600k 135 120 18 0.1 6.8
601k-650k 65 72 13 0.2 5.4
651k-700k 44 37 9 0.1 7.1
701k-750k 23 23 4 0.2 6
751k-800k 23 24 2 0.2 5.8
801k-850k 7 4 2 0.1 10.5
851k-900k 8 5 2 0.1 9.6
901k-950k 10 10 1 0.2 6
951k-1m 11 5 0.1 13.2
1m-1.1m 8 5 1 0.1 9.6
1.1m-1.2m 9 2 0 27
1.2m-1.3m 2 1 1 0.1 12
1.3m-1.4m 2 3 2 0.3 4
1.4m-1.5m 1 0
1.5m-1.6m 3 2 0.5 0
1.6m-1.7m 1 0
1.7m-1.8m 1 0
1.9m-2m 1 0
2m-2.25m 2 0.3 0
2.25m-2.5m 2 0
2.5m-2.75m 1 0
2.75m-3m 1 0

Townhouses 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
176k-200k 1 0.2 0
201k-225k 3 1 0.1 18
226k-250k 2 3 1 0.3 4
251k-275k 2 0
276k-300k 5 4 1 0.1 7.5
301k-325k 1 0
326k-350k 3 0.5 0
351k-375k 2 1 1 0.1 12
376k-400k 3 0
401k-425k 2 2 0.2 6
426k-450k 4 0
451k-475k 1 0
476k-500k 2 2 0.2 6
501k-550k 3 0
551k-600k 1 1 0.2 6

Condos 11% 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
101k-125k 3 0.5 0
126k-150k 9 9 1 0.2 6
151k-175k 3 3 0.2 6
176k-200k 2 7 2 0.6 1.7
201k-225k 10 7 2 0.1 8.6
226k-250k 7 4 0.1 10.5
251k-275k 7 4 1 0.1 10.5
276k-300k 2 2 1 0.2 6
401k-425k 1 1 0.2 0

Land 5% 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 1 1 0.2 0
76k-100k 4 5 1 0.2 4.8
101k-125k 10 3 0.1 20
126k-150k 18 4 0 27
151k-175k 10 5 1 0.1 12
176k-200k 10 3 3 0.1 20
201k-225k 10 3 1 0.1 20
226k-250k 3 2 2 0.1 9
251k-275k 10 2 0 30
276k-300k 4 4 0.2 6
301k-325k 2 4 1 0.3 3
326k-350k 3 2 0.1 9
376k-400k 3 0
401k-425k 3 0
426k-450k 1 0
451k-475k 1 0
476k-500k 2 0
501k-550k 4 0
551k-600k 1 0
601k-650k 1 0
651k-700k 2 0
701k-750k 2 0
751k-800k 2 0
801k-850k 3 0
851k-900k 1 1 0.2 6
951k-1m 3 0
1.1m-1.2m 1 2 1 0.3 3
1.3m-1.4m 1 0
1.4m-1.5m 1 0
1.6m-1.7m 1 0
2.5m-2.75m 1 0
2.75m-3m 1 0
3m-3.5m 2 0
3.5m-4m 1 0
5.01m-6m 3 0
6.01m-7m 1 0