Granite Mountain Area Home Sales Trend Chart
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MLS Status Over Time
Number of Homes Active, Pending, and Sold Each Month
Months of Inventory
Months of Inventory Each Month
To calculate the Absorption Rate for any given market:
- The absorption rate is defined as the rate at which homes that are available in a particular market are sold over a specific time frame, such as over the period of a month.
- Find the average number of sales over the past 6 months. [ 118 or average of 118 per month]
- Find the total number of active & pending listings on the market last month. [ 161 ]
- Absorption Rate is the percentage of homes removed from the market (sold) each month.
Current Absorption Rate is 12.22% in Granite Mountain Area.
To calculate the Months of Inventory for any given market:
- Find the total number of active & pending listings on the market last month. [ 161 ]
- Find the total number of sold transactions for last month. [ 128 ]
- Divide the number of active listings by the number of sales last month to determine the number of Months of Inventory remaining.
Current Months of Inventory is 1.3 in Granite Mountain Area.
Based on information from the Arizona Regional Multiple Listing Service (ARMLS) for the period May, 2024 through Oct, 2024.
Updated Monday, November 18, 2024.
