Here is the Olney, Brookeville, Ashton, and Sandy Spring Area supply and demand chart forOctober2013. 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.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.
We have seen a clear change in the marketplace from the spring. Bidding wars are no longer the norm, however well price/good condition homes are selling quickly. The government shutdown along with the time of the has made the market "feel" very slow, however the 22.3% absorption rate is very strong (25.5% county wide).
If you are interested in learning more about this great market, speak with a professional at RE/MAX Realty Centre 301-774-5900
Absorption Rate
October2013 22.3% absorption rate
October 2012 10.6% absorption rate
October2011 10.9% absorption
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