Absorption Rates for Frederick County Communities - June 2009
Absorption rates for Frederick County and major communities:
| Frederick County as a whole | 7 months |
| 21701 | 7 months |
| 21702 | 5 months |
| 21703 | 7 months |
| Urbana | 5 months |
| Ijamsville | 6.5 months |
| Monrovia | 6 months |
| Mount Airy | 6 months |
| New Market | 10 months |
| Walkersville | 3.5 months |
| Thurmont/Emmitsburg | 8 months |
| Middletown | 7 months |
The absorption rate is a rough estimate of how long the average home stays on the market. It is a fluid number, changing monthly, even weekly, as sales and listings go up and down. The absorption rate varies across Frederick County communities, as well. A six month absorption rate is usually considered a balanced market, favoring neither the buyer or the seller. Less than six months, its a seller's market, more than six months...a buyer's market.
We've seen the absorption rate come down dramatically since the spring, with increased sales and decreased inventory. Now we are seeing the market transition to a more stable market. We're forecasting a leveling off of prices, though we don't see any appreciation in the near future. We're expecting a whole new wave of foreclosures as a new group of Alt-A loans are due to reset in 2010. This shouldn't be as severe a number or impact.
To see Frederick County Real Estate Market Report for June 2009.
To see homes on the market, use our free MLS search, or contact us for information about the Frederick Real Estate Market.
The Highland Group – Real Estate Teams
Chris & Karen Highland * Frederick County MD Real Estate Agents
301-831-9947
Real Estate Teams, LLC
isell4u2@msn.com