Here is the Montgomery County, MD supply and demand chart forOctober 2013. The Green bars represent the percentage of available homes that went under contract this month. The absorption rate is determined by the number of homes on the market and the number of homes selling that month. We are tracking the Under Contracts for a very specific reason. Typically the Under Contracts are the lead indicator of activity since it usually takes 30-60 days for most homes to go from under contract to sold.
The government shutdown greatly impactedthe Montgomery County real estate market for the short term. However, once the shutdown was over, we saw interest in the real estate bounce back. At 25% absorption, the market is still moving along a brisk pace. We will see some seasonal slowing of the market as Nov/Dec approaches.
If you are interested in learning if the market is moving in your direction, speak with a professional at RE/MAX Realty Centre 301-774-5900
Absorption Rate
October2013 25.5% absorption rate
October 2012 21.6% absorption rate
October 2011 15.3% absorption
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