Absorption Report

West Palm Beach, Griffis

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
51k-75k 1 0.2 0
76k-100k 3 0.5 0
101k-125k 1 2 0.3 3
126k-150k 1 3 1 0.5 2
151k-175k 1 3 1 0.5 2
176k-200k 2 11 4 0.9 1.1
201k-225k 3 14 3 0.8 1.3
226k-250k 6 31 4 0.9 1.2
251k-275k 8 35 2 0.7 1.4
276k-300k 10 39 7 0.7 1.5
301k-325k 22 55 9 0.4 2.4
326k-350k 46 66 9 0.2 4.2
351k-375k 38 69 13 0.3 3.3
376k-400k 42 82 9 0.3 3.1
401k-425k 32 45 4 0.2 4.3
426k-450k 38 34 3 0.1 6.7
451k-475k 26 36 5 0.2 4.3
476k-500k 17 29 3 0.3 3.5
501k-550k 27 25 4 0.2 6.5
551k-600k 13 11 2 0.1 7.1
601k-650k 8 9 3 0.2 5.3
651k-700k 5 7 4 0.2 4.3
701k-750k 2 2 1 0.2 6
751k-800k 2 4 1 0.3 3
801k-850k 1 1 1 0.2 6
851k-900k 2 2 0.2 6
901k-950k 3 1 0.1 18
951k-1m 1 0
1.1m-1.2m 2 0
1.4m-1.5m 3 0
2m-2.25m 1 0.2 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
276k-300k 1 3 1 0.5 2
301k-325k 2 0.3 0
351k-375k 1 3 1 0.5 2
426k-450k 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
101k-125k 1 0.2 0
126k-150k 2 1 0.1 12
151k-175k 3 8 2 0.4 2.3
176k-200k 10 2 0 30
201k-225k 1 0
251k-275k 1 2 0.3 3
276k-300k 2 0
301k-325k 1 0

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 23 33 5 0.2 4.2
26k-50k 35 18 4 0.1 11.7
51k-75k 11 3 0 22
76k-100k 7 7 1 0.2 6
101k-125k 2 3 0.3 4
126k-150k 8 6 0.1 8
151k-175k 8 7 0.1 6.9
176k-200k 4 2 0.1 12
201k-225k 1 0.2 0
226k-250k 5 0
251k-275k 2 0
276k-300k 1 1 0.2 6
326k-350k 5 0
376k-400k 3 0
401k-425k 1 0.2 0
426k-450k 3 0
476k-500k 1 0
501k-550k 1 0
601k-650k 2 1 0.1 12
701k-750k 2 0
751k-800k 2 0
801k-850k 2 0
851k-900k 2 0
951k-1m 1 1 0.2 6
1m-1.1m 1 0.2 0
1.3m-1.4m 1 0
1.9m-2m 1 0
2m-2.25m 1 0
2.25m-2.5m 1 0
7.01m-8m 1 0