Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for October 2009. The Red lines are the active homes, blue under contract, and green are sold. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.
October of 2009 was another improving month over this last year and 2 years ago. Are we out of the woods? Not yet. Experts predict that there are still more foreclosures and short sales until 2012. However that doesn't necessarily mean that we will see a decline in property values across the board. The best advice is to get professional advice. RE/MAX Realty Centre has some of the industries finest agents.
Our office has added several CDPEs. These are Certified Distressed Property Experts. They are great agents who can help their clients navigate short sales and foreclosures.
Absorption Rates:
October 2009 16% absorption rate
October 2008 11% absorption rate
October 2007 9% absorption rate
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Olney Area Supply and Demand Chart December 2009
Clarksburg Area Supply and Demand Chart December 2009
Clarksburg Area Supply and Demand Chart November 2009
Olney Area Supply and Demand Chart November 2009
Clarksburg Area Supply and Demand Chart October 2009
Clarksburg Area Supply and Demand Chart August 2009
Olney Area Supply and Demand Chart August 2009
Olney Area Supply and Demand Chart July 2009
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