Absorption Report

Venice, South Venice, New Construction

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 0% 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
151k-175k 1 0.2 0
176k-200k 1 4 1 0.7 1.5
201k-225k 1 1 1 0.2 6
226k-250k 4 13 1 0.5 1.8
251k-275k 3 16 3 0.9 1.1
276k-300k 7 22 3 0.5 1.9
301k-325k 16 27 4 0.3 3.6
326k-350k 19 48 9 0.4 2.4
351k-375k 38 81 9 0.4 2.8
376k-400k 75 140 25 0.3 3.2
401k-425k 82 132 20 0.3 3.7
426k-450k 80 93 13 0.2 5.2
451k-475k 65 76 13 0.2 5.1
476k-500k 54 53 7 0.2 6.1
501k-550k 82 69 6 0.1 7.1
551k-600k 48 58 8 0.2 5
601k-650k 40 28 7 0.1 8.6
651k-700k 35 28 4 0.1 7.5
701k-750k 18 17 3 0.2 6.4
751k-800k 16 10 1 0.1 9.6
801k-850k 5 7 4 0.2 4.3
851k-900k 6 3 0.1 12
901k-950k 3 1 1 0.1 18
951k-1m 3 5 1 0.3 3.6
1m-1.1m 2 1 0.1 12
1.1m-1.2m 1 0
1.2m-1.3m 3 3 1 0.2 6
1.4m-1.5m 4 0
1.5m-1.6m 1 0
1.6m-1.7m 1 0
1.7m-1.8m 3 0
1.9m-2m 2 0
2m-2.25m 1 0
2.25m-2.5m 2 0
2.75m-3m 1 0
3m-3.5m 1 0
3.5m-4m 1 0
15.01m-16m 1 0

Townhouses 0% 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
226k-250k 4 0.7 0
251k-275k 2 2 0.2 6
276k-300k 3 13 2 0.7 1.4
301k-325k 14 84 12 1 1
326k-350k 41 74 14 0.3 3.3
351k-375k 17 55 10 0.5 1.9
376k-400k 12 33 7 0.5 2.2
401k-425k 5 21 2 0.7 1.4
426k-450k 7 7 0.2 6
551k-600k 1 0

Condos 0% 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 2 0
151k-175k 8 1 0 48
201k-225k 1 0.2 0
226k-250k 2 1 0.3 0
251k-275k 1 3 0.5 2

Land 0% 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 33 19 1 0.1 10.4
26k-50k 11 7 1 0.1 9.4
51k-75k 8 4 1 0.1 12
76k-100k 7 6 1 0.1 7
101k-125k 1 8 1 1.3 0.8
126k-150k 8 5 2 0.1 9.6
151k-175k 7 1 0 42
176k-200k 6 2 0.1 18
201k-225k 3 3 0.2 6
226k-250k 4 0
251k-275k 2 2 1 0.2 6
276k-300k 4 3 1 0.1 8
301k-325k 3 2 0.1 9
326k-350k 1 1 0.2 6
351k-375k 1 2 1 0.3 3
376k-400k 4 2 2 0.1 12
401k-425k 1 0.2 0
426k-450k 2 0
451k-475k 1 0
476k-500k 2 0
501k-550k 2 0
551k-600k 3 0
601k-650k 2 0
651k-700k 2 0
701k-750k 1 0
751k-800k 2 0
801k-850k 1 0
851k-900k 4 0
951k-1m 1 0
1m-1.1m 1 0
1.1m-1.2m 2 0
1.2m-1.3m 3 0
1.3m-1.4m 1 1 0.2 6
1.4m-1.5m 2 0
1.5m-1.6m 1 0
1.6m-1.7m 1 0
1.8m-1.9m 1 0
1.9m-2m 1 0
2m-2.25m 1 0
2.25m-2.5m 2 0
2.5m-2.75m 1 0
3m-3.5m 2 0
3.5m-4m 1 0
5.01m-6m 1 1 0.2 6
11.01m-12m 1 0