Supply & Demand in Northlake, 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 48% 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 3 1 1 0.1 18
26k-50k 13 24 6 0.3 3.3
51k-75k 23 65 23 0.5 2.1
76k-100k 41 100 32 0.4 2.5
101k-125k 53 106 29 0.3 3
126k-150k 81 146 43 0.3 3.3
151k-175k 90 154 46 0.3 3.5
176k-200k 77 179 61 0.4 2.6
201k-225k 94 162 46 0.3 3.5
226k-250k 115 246 79 0.4 2.8
251k-275k 101 244 86 0.4 2.5
276k-300k 120 259 82 0.4 2.8
301k-325k 62 192 51 0.5 1.9
326k-350k 74 230 70 0.5 1.9
351k-375k 56 188 46 0.6 1.8
376k-400k 56 181 55 0.5 1.9
401k-425k 40 141 31 0.6 1.7
426k-450k 56 132 27 0.4 2.5
451k-475k 24 91 17 0.6 1.6
476k-500k 38 96 29 0.4 2.4
501k-550k 38 132 36 0.6 1.7
551k-600k 47 126 24 0.4 2.2
601k-650k 27 94 23 0.6 1.7
651k-700k 24 75 13 0.5 1.9
701k-750k 19 59 11 0.5 1.9
751k-800k 18 46 10 0.4 2.3
801k-850k 8 45 13 0.9 1.1
851k-900k 10 40 9 0.7 1.5
901k-950k 10 29 6 0.5 2.1
951k-1m 6 24 6 0.7 1.5
1m-1.1m 5 34 11 1.1 0.9
1.1m-1.2m 9 39 8 0.7 1.4
1.2m-1.3m 13 36 4 0.5 2.2
1.3m-1.4m 11 35 12 0.5 1.9
1.4m-1.5m 10 20 6 0.3 3
1.5m-1.6m 7 18 2 0.4 2.3
1.6m-1.7m 6 19 4 0.5 1.9
1.7m-1.8m 9 13 2 0.2 4.2
1.8m-1.9m 7 18 3 0.4 2.3
1.9m-2m 6 13 6 0.4 2.8
2m-2.25m 10 14 3 0.2 4.3
2.25m-2.5m 6 23 5 0.6 1.6
2.5m-2.75m 8 7 2 0.1 6.9
2.75m-3m 11 7 0.1 9.4
3m-3.5m 8 13 5 0.3 3.7
3.5m-4m 6 8 5 0.2 4.5
4m-4.5m 1 1 0.2 6
4.5m-5m 3 1 1 0.1 18
5.01m-6m 4 2 1 0.1 12
6.01m-7m 3 3 1 0.2 6
7.01m-8m 2 2 2 0.2 6
8.01m-9m 1 0
9.01m-10m 2 0
10.01m-11m 1 1 0.2 0

Townhouses 14% 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
326k-350k 1 0
451k-475k 2 0
476k-500k 1 0
551k-600k 1 0.2 0
601k-650k 1 0
651k-700k 1 0.2 0
801k-850k 1 0.2 0
1.6m-1.7m 1 0.2 0
3m-3.5m 1 0

Condos 47% 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
26k-50k 4 5 2 0.2 4.8
51k-75k 20 31 7 0.3 3.9
76k-100k 24 29 11 0.2 5
101k-125k 16 76 25 0.8 1.3
126k-150k 48 151 49 0.5 1.9
151k-175k 49 195 41 0.7 1.5
176k-200k 76 250 63 0.5 1.8
201k-225k 57 212 55 0.6 1.6
226k-250k 69 241 59 0.6 1.7
251k-275k 74 194 37 0.4 2.3
276k-300k 82 210 63 0.4 2.3
301k-325k 70 186 46 0.4 2.3
326k-350k 76 178 63 0.4 2.6
351k-375k 45 151 29 0.6 1.8
376k-400k 64 167 48 0.4 2.3
401k-425k 35 132 37 0.6 1.6
426k-450k 62 146 34 0.4 2.5
451k-475k 35 115 24 0.5 1.8
476k-500k 56 99 36 0.3 3.4
501k-550k 51 197 46 0.6 1.6
551k-600k 48 139 41 0.5 2.1
601k-650k 40 127 34 0.5 1.9
651k-700k 38 119 35 0.5 1.9
701k-750k 26 109 21 0.7 1.4
751k-800k 37 74 22 0.3 3
801k-850k 16 56 18 0.6 1.7
851k-900k 27 67 20 0.4 2.4
901k-950k 14 29 10 0.3 2.9
951k-1m 22 42 11 0.3 3.1
1m-1.1m 25 48 7 0.3 3.1
1.1m-1.2m 16 32 4 0.3 3
1.2m-1.3m 20 22 4 0.2 5.5
1.3m-1.4m 6 22 5 0.6 1.6
1.4m-1.5m 18 21 9 0.2 5.1
1.5m-1.6m 4 10 2 0.4 2.4
1.6m-1.7m 11 7 0.1 9.4
1.7m-1.8m 8 6 3 0.1 8
1.8m-1.9m 4 2 1 0.1 12
1.9m-2m 8 6 4 0.1 8
2m-2.25m 15 12 6 0.1 7.5
2.25m-2.5m 18 9 4 0.1 12
2.5m-2.75m 8 7 1 0.1 6.9
2.75m-3m 16 3 2 0 32
3m-3.5m 9 1 0 54
3.5m-4m 2 3 0.3 4
4m-4.5m 5 5 2 0.2 6
4.5m-5m 2 0.3 0
5.01m-6m 1 2 0.3 3
7.01m-8m 1 0
8.01m-9m 1 1 1 0.2 6
11.01m-12m 1 0
15.01m-16m 1 0

Land 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
-24,000-0 1 1 1 0.2 6
1k-25k 88 24 7 0 22
26k-50k 79 17 3 0 27.9
51k-75k 24 9 1 0.1 16
76k-100k 32 7 2 0 27.4
101k-125k 12 5 1 0.1 14.4
126k-150k 27 5 2 0 32.4
151k-175k 11 1 0 66
176k-200k 16 2 2 0 48
201k-225k 9 4 2 0.1 13.5
226k-250k 11 5 4 0.1 13.2
251k-275k 7 0
276k-300k 12 1 0 72
301k-325k 4 3 0.1 8
326k-350k 7 1 0 42
351k-375k 2 1 0.3 0
376k-400k 8 3 0.1 16
401k-425k 1 0
426k-450k 6 0
451k-475k 2 0
476k-500k 21 0
501k-550k 5 2 0.1 15
551k-600k 5 4 1 0.1 7.5
601k-650k 1 3 2 0.5 2
651k-700k 5 1 1 0 30
701k-750k 4 1 1 0 24
751k-800k 4 2 1 0.1 12
801k-850k 2 0
851k-900k 3 2 0.1 9
901k-950k 2 1 0.1 12
951k-1m 3 0
1m-1.1m 2 0
1.1m-1.2m 2 0.3 0
1.2m-1.3m 3 1 0.1 18
1.4m-1.5m 2 0
1.5m-1.6m 1 1 1 0.2 6
1.6m-1.7m 2 0.3 0
1.8m-1.9m 3 0
1.9m-2m 1 1 0.2 6
2m-2.25m 3 0
2.25m-2.5m 1 0
2.75m-3m 1 0
3m-3.5m 1 0
4m-4.5m 1 0
5.01m-6m 1 0
6.01m-7m 1 0.2 0
7.01m-8m 1 0
10.01m-11m 1 0