Absorption Report

Wells


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 29% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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 1 0.2 0
126k-150k 3 0.5 0
151k-175k 4 1 0.7 0
176k-200k 6 1 0
201k-225k 11 1 1.8 0
226k-250k 2 17 1.4 0.7
251k-275k 1 43 1 7.2 0.1
276k-300k 6 41 3 1.1 0.9
301k-325k 2 40 3 3.3 0.3
326k-350k 3 53 6 2.9 0.3
351k-375k 2 65 6 5.4 0.2
376k-400k 6 57 9 1.6 0.6
401k-425k 7 60 4 1.4 0.7
426k-450k 6 45 4 1.3 0.8
451k-475k 1 31 1 5.2 0.2
476k-500k 7 30 5 0.7 1.4
501k-550k 10 65 8 1.1 0.9
551k-600k 9 56 5 1 1
601k-650k 12 33 1 0.5 2.2
651k-700k 19 33 9 0.3 3.5
701k-750k 15 28 4 0.3 3.2
751k-800k 13 16 0.2 4.9
801k-850k 4 13 0.5 1.8
851k-900k 2 11 0.9 1.1
901k-950k 1 12 2 2 0.5
951k-1m 4 5 1 0.2 4.8
1m-1.1m 3 6 0.3 3
1.1m-1.2m 6 7 1 0.2 5.1
1.2m-1.3m 4 4 1 0.2 6
1.3m-1.4m 5 2 0.1 15
1.4m-1.5m 3 0
1.5m-1.6m 2 0
1.6m-1.7m 1 1 0.2 6
1.7m-1.8m 3 0
1.8m-1.9m 1 1 0.2 6
1.9m-2m 1 0
2.25m-2.5m 1 0
3.5m-4m 1 0
5.01m-6m 1 0

Townhouses 57% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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
126k-150k 1 1 0.2 0
176k-200k 3 0.5 0
226k-250k 5 1 0.8 0
251k-275k 4 0.7 0
276k-300k 1 0.2 0
301k-325k 1 0
326k-350k 2 1 0.3 0
351k-375k 2 0.3 0
376k-400k 1 1 0.2 0
401k-425k 4 0.7 0
426k-450k 1 2 0.3 3
451k-475k 3 0.5 0
476k-500k 3 1 0.5 0
501k-550k 2 0.3 0
851k-900k 1 0.2 0
1.1m-1.2m 1 0

Condos 36% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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
76k-100k 2 0.3 0
101k-125k 3 0.5 0
126k-150k 9 1.5 0
151k-175k 6 1 1 0
176k-200k 6 2 1 0
201k-225k 2 11 1 0.9 1.1
226k-250k 22 1 3.7 0
251k-275k 21 3 3.5 0
276k-300k 1 11 5 1.8 0.5
301k-325k 21 1 3.5 0
326k-350k 14 3 2.3 0
351k-375k 1 13 2 2.2 0.5
376k-400k 2 7 2 0.6 1.7
401k-425k 2 10 0.8 1.2
426k-450k 3 7 0.4 2.6
451k-475k 1 4 1 0.7 1.5
476k-500k 6 4 0.1 9
501k-550k 8 5 0.1 9.6
551k-600k 7 7 1 0.2 6
601k-650k 4 7 0.3 3.4
651k-700k 4 0
701k-750k 4 2 1 0.1 12
751k-800k 1 0
801k-850k 1 0.2 0
1.3m-1.4m 3 0
1.6m-1.7m 1 0

Land 9% of available homes are currently under contract

List Price Available # of Homes Available Sold Since 12/31 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
51k-75k 2 0
76k-100k 2 2 0.2 6
101k-125k 6 2 0.1 18
126k-150k 10 6 0.1 10
151k-175k 23 18 4 0.1 7.7
176k-200k 13 12 1 0.2 6.5
201k-225k 6 3 0.1 12
226k-250k 11 15 3 0.2 4.4
251k-275k 13 5 2 0.1 15.6
276k-300k 17 4 1 0 25.5
301k-325k 7 8 0.2 5.3
326k-350k 1 4 0.7 1.5
376k-400k 4 0
401k-425k 1 0.2 0
426k-450k 1 0
501k-550k 1 1 0.2 0
701k-750k 1 0.2 0
751k-800k 1 0
801k-850k 1 0
951k-1m 1 0
1m-1.1m 1 0
1.2m-1.3m 1 0
1.6m-1.7m 1 0
2m-2.25m 1 0