Absorption Rate in Frederick Real Estate
The Absorption rate in Frederick County real estate is roughly 8 months, down from a high of 16 months last winter. What is the absorption rate? It’s a rough estimate of how long it will take the current homes on the market to sell. Because the current number of listings and the current number of pending sales fluctuate from month to month, and day to day, absorption rate is an estimate.
An absorption rate of 6 months is considered a balanced market, while a rate of under 6 months is a seller’s market. (If you were involved in the Frederick real estate market at all in the years 2003 to 2005, you might remember an absorption rate measured in weeks…a severe seller’s market.) A balanced market, of course is what most of us want to see, and the good news is, we are getting closer.
Absorption rates for Frederick County and major communities:
| Frederick County as a whole | 8 months |
| 21701 | 9 months |
| 21702 | 6 months |
| 21703 | 6 months |
| Urbana | 5 months |
| Ijamsville | 6.5 months |
| Monrovia | 6 months |
| Mount Airy | 9 months |
| New Market | 9 months |
| Walkersville | 5 months |
| Thurmont/Emmitsburg | 7 months |
| Middletown | 8 months |
As the inventory continues to come down; it’s now around 1700, down from a high of 2400, and the number of sales continue to go up, we will see a leveling off of the market and a return to a normal absorption rate, 5 to 6 months.
Contact us if you’d like more details about your neighborhood.
The Highland Group – Real Estate Teams
Chris & Karen Highland * 301-831-9947
Real Estate Teams, LLC
email us: isell4u2@msn.com