Supply & Demand in Chicago, IL

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 39% 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 2 0.3 0
26k-50k 8 24 4 0.5 2
51k-75k 23 45 13 0.3 3.1
76k-100k 21 62 16 0.5 2
101k-125k 29 61 15 0.4 2.9
126k-150k 31 98 21 0.5 1.9
151k-175k 34 79 9 0.4 2.6
176k-200k 33 72 17 0.4 2.8
201k-225k 34 76 11 0.4 2.7
226k-250k 52 110 28 0.4 2.8
251k-275k 51 128 30 0.4 2.4
276k-300k 70 140 30 0.3 3
301k-325k 41 112 16 0.5 2.2
326k-350k 44 119 21 0.5 2.2
351k-375k 26 91 15 0.6 1.7
376k-400k 36 85 26 0.4 2.5
401k-425k 22 60 11 0.5 2.2
426k-450k 29 52 21 0.3 3.3
451k-475k 10 46 4 0.8 1.3
476k-500k 20 42 6 0.4 2.9
501k-550k 11 51 11 0.8 1.3
551k-600k 24 49 16 0.3 2.9
601k-650k 8 33 4 0.7 1.5
651k-700k 12 38 7 0.5 1.9
701k-750k 11 29 9 0.4 2.3
751k-800k 10 16 2 0.3 3.8
801k-850k 8 11 1 0.2 4.4
851k-900k 9 17 7 0.3 3.2
901k-950k 4 11 3 0.5 2.2
951k-1m 4 17 3 0.7 1.4
1m-1.1m 4 19 3 0.8 1.3
1.1m-1.2m 4 15 3 0.6 1.6
1.2m-1.3m 5 17 3 0.6 1.8
1.3m-1.4m 5 10 1 0.3 3
1.4m-1.5m 8 9 2 0.2 5.3
1.5m-1.6m 11 3 1.8 0
1.6m-1.7m 6 5 1 0.1 7.2
1.7m-1.8m 2 10 2 0.8 1.2
1.8m-1.9m 5 10 3 0.3 3
1.9m-2m 2 4 0.3 3
2m-2.25m 7 6 1 0.1 7
2.25m-2.5m 14 7 2 0.1 12
2.5m-2.75m 2 8 4 0.7 1.5
2.75m-3m 3 3 1 0.2 6
3m-3.5m 6 3 1 0.1 12
3.5m-4m 3 3 1 0.2 6
4m-4.5m 2 7 2 0.6 1.7
4.5m-5m 2 0
5.01m-6m 5 2 0.1 15
7.01m-8m 1 1 0.2 6
20.01m-21m 1 0

Townhouses 50% 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
376k-400k 1 0.2 0
1m-1.1m 1 0

Condos 39% 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 4 4 0.2 6
51k-75k 7 7 0.2 6
76k-100k 8 15 3 0.3 3.2
101k-125k 11 40 6 0.6 1.7
126k-150k 22 85 21 0.6 1.6
151k-175k 34 111 20 0.5 1.8
176k-200k 36 103 25 0.5 2.1
201k-225k 42 113 22 0.4 2.2
226k-250k 55 123 30 0.4 2.7
251k-275k 31 125 28 0.7 1.5
276k-300k 50 100 20 0.3 3
301k-325k 40 105 22 0.4 2.3
326k-350k 43 103 25 0.4 2.5
351k-375k 36 75 15 0.3 2.9
376k-400k 46 82 25 0.3 3.4
401k-425k 22 75 15 0.6 1.8
426k-450k 29 57 12 0.3 3.1
451k-475k 31 60 19 0.3 3.1
476k-500k 26 64 26 0.4 2.4
501k-550k 41 119 20 0.5 2.1
551k-600k 43 80 11 0.3 3.2
601k-650k 17 86 16 0.8 1.2
651k-700k 25 54 13 0.4 2.8
701k-750k 20 57 7 0.5 2.1
751k-800k 10 52 8 0.9 1.2
801k-850k 13 33 7 0.4 2.4
851k-900k 19 27 8 0.2 4.2
901k-950k 9 18 3 0.3 3
951k-1m 18 22 3 0.2 4.9
1m-1.1m 15 38 8 0.4 2.4
1.1m-1.2m 20 17 4 0.1 7.1
1.2m-1.3m 14 24 6 0.3 3.5
1.3m-1.4m 11 21 6 0.3 3.1
1.4m-1.5m 14 16 5 0.2 5.3
1.5m-1.6m 7 9 1 0.2 4.7
1.6m-1.7m 8 4 0.1 12
1.7m-1.8m 6 4 0.1 9
1.8m-1.9m 6 6 2 0.2 6
1.9m-2m 3 2 0.1 9
2m-2.25m 2 7 1 0.6 1.7
2.25m-2.5m 12 5 0.1 14.4
2.5m-2.75m 8 5 1 0.1 9.6
2.75m-3m 11 4 1 0.1 16.5
3m-3.5m 9 7 2 0.1 7.7
3.5m-4m 3 1 0.1 18
4m-4.5m 2 1 0.1 12
4.5m-5m 2 0
6.01m-7m 2 4 0.3 3
7.01m-8m 2 0
8.01m-9m 1 0.2 0
9.01m-10m 1 0.2 0

Land 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
-24,000-0 7 0
1k-25k 134 59 10 0.1 13.6
26k-50k 130 43 7 0.1 18.1
51k-75k 56 11 3 0 30.5
76k-100k 29 8 2 0 21.8
101k-125k 8 2 0 24
126k-150k 5 1 1 0 30
151k-175k 3 2 0.1 9
176k-200k 8 2 1 0 24
201k-225k 6 2 2 0.1 18
226k-250k 8 3 1 0.1 16
251k-275k 2 1 1 0.1 12
276k-300k 3 1 0.1 18
301k-325k 3 0
326k-350k 3 3 0.2 6
351k-375k 3 1 0.1 18
376k-400k 3 0
426k-450k 3 2 0.1 9
451k-475k 3 0
476k-500k 2 0
501k-550k 3 0
551k-600k 6 1 0 36
601k-650k 3 1 0.1 18
651k-700k 2 0
701k-750k 4 1 0 24
751k-800k 3 0
801k-850k 2 1 1 0.1 12
901k-950k 1 1 0.2 6
951k-1m 1 1 0.2 6
1m-1.1m 1 1 1 0.2 6
1.1m-1.2m 2 1 1 0.1 12
1.2m-1.3m 1 1 0.2 6
1.3m-1.4m 1 1 0.2 0
1.4m-1.5m 1 1 0.2 6
1.5m-1.6m 1 1 0.2 0
1.6m-1.7m 1 0.2 0
1.9m-2m 2 0
2.25m-2.5m 1 1 0.2 6
2.75m-3m 4 0
3m-3.5m 2 1 0.1 12
3.5m-4m 2 0
4m-4.5m 1 0
4.5m-5m 1 0
7.01m-8m 1 0