Absorption Report

Chicago, Millennium Station Metra Station (1 mi.)

Seller's
Market
Balanced
Market
Buyer's
Market
< 5 months
Inventory
5 months
Inventory
> 5 months
Inventory

The absorption rate is the rate at which a home is likely to sell 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 5 months of inventory in their price range, and they are 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.


NAN% of available homes are currently under contract

Single Family Homes

List Price Available Sold Since 12/01 Under Contract
Last 30 days
Absorption Rate Months of Inventory
1m-1.1m 1 0.2 0
2.5m-2.75m 1 0.2 0

NAN% of available homes are currently under contract

Condos/Townhomes

List Price Available Sold Since 12/01 Under Contract
Last 30 days
Absorption Rate Months of Inventory
126k-150k 7 1.2 0
151k-175k 26 4.3 0
176k-200k 33 5.5 0
201k-225k 31 5.2 0
226k-250k 60 10 0
251k-275k 61 10.2 0
276k-300k 65 1 10.8 0
301k-325k 58 9.7 0
326k-350k 46 2 7.7 0
351k-375k 37 2 6.2 0
376k-400k 37 6.2 0
401k-425k 40 1 6.7 0
426k-450k 40 3 6.7 0
451k-475k 32 2 5.3 0
476k-500k 27 1 4.5 0
501k-550k 56 1 9.3 0
551k-600k 39 6.5 0
601k-650k 27 4.5 0
651k-700k 19 3.2 0
701k-750k 25 1 4.2 0
751k-800k 17 2.8 0
801k-850k 6 1 1 0
851k-900k 12 2 0
901k-950k 12 1 2 0
951k-1m 16 1 2.7 0
1m-1.1m 22 1 3.7 0
1.1m-1.2m 13 2 2.2 0
1.2m-1.3m 7 1.2 0
1.3m-1.4m 5 0.8 0
1.4m-1.5m 5 1 0.8 0
1.5m-1.6m 7 1.2 0
1.6m-1.7m 6 1 0
1.7m-1.8m 4 0.7 0
1.8m-1.9m 5 1 0.8 0
1.9m-2m 2 0.3 0
2.25m-2.5m 6 1 1 0
2.5m-2.75m 1 0.2 0
2.75m-3m 2 0.3 0
3m-3.5m 3 0.5 0
3.5m-4m 2 0.3 0
4m-4.5m 1 0.2 0
5.01m-6m 1 0.2 0
6.01m-7m 1 0.2 0

NAN% of available homes are currently under contract

Lots/Land

List Price Available Sold Since 12/31 Under Contract
Last 30 days
Absorption Rate Months of Inventory
1m-1.1m 1 0.2 0