Frederick Real Estate - Inventory is Shrinking
Shrinking inventory in the Frederick real estate market is a good thing. The more it shrinks, the sooner we'll get back to a balanced market. Historically, an inventory of 1200 homes on the market is a pretty healthy market. We've come down to about 1600 from a high of 2400 in the winter of '07-08.
For the last 3 months the number of new listings reported weekly has been about 25% less than the numbers last year. Also, for the last 3 months, the number of pending sales has been up over the numbers last year. The absorption rate for most Frederick Communities is between 8 and 10 months, down from a high of 16 months.
When we see an absorption rate of 6 months, that will be a balanced market.
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119