Absorption rate for Cecil County, MD
The absorption rate is a figure that tells you how long it will take to sell your home in current market conditions.
Definition of Absorption Rate
The rate at which properties are able to be leased or sold in a given area.
There are several ways to determine the absorption rate. For example you can break it down by how many weeks or months will it take to sell your home in the current market. I'll go with month for this example. I am using information provided through the Cecil County mls for the month of February. During that time period there were 832 homes on the market in Cecil County, MD + 78 properties under contract. You add those two figures together and get 910. There were 51 Cecil County home sales that month. Now take 910 and divide it by 51. This is the rate of absorption in months. Here in Cecil County, MDthe rate of absorption is 17.84 months. That means that in the current market conditions it will take almost 18 months to sell all of the current inventory.
If you are thinking about selling your Cecil County home this is something that you may want to follow. I will post the current absorption rate every month as soon as my mls comes out with the previous month's market statistics. That way you can get an idea of what the market is doing. In a normal market the rate of absorption is around 6 months. I can also break this down by price range, zip code, etc... If you would like a more detailed figure feel free to contact me.
View February's market statistics for Cecil County
Transferring to APG for BRAC?
Military Relocation Guide to Aberdeen Proving Ground - BRAC
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Cecil County Relocation Guide
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Harford County Relocation Guide
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How to sell your Cecil County home or Harford County home in a buyers market
Top remodeling projects for your Cecil County, MD or Harford County, MD home
I can help you with all of your real estate needs. Call Megan McGonigal at 443-309-1659 or email me.
Cecil County Real Estate, Harford County Real Estate, Cecil County homes for sale, Harford County homes for sale, Cecil County Realtor, APG relocation, BRAC
I am a Cecil County Realtor who specializes in Cecil County home sales and Harford County home sales including waterfront, water view, water access, condos, relocation's, existing homes and new homes.
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But, if you're thinking about Buying, NOW is the time!
But, if you're thinking about Buying, NOW is the time!
At some point it is not helpful to add new statisticts. With your calculation of the "absorption rate" your number takes into account all of those house that are over priced and will not sell in one hundred months unless they lower the price. If the home is priced according to what the market actually is, it will sell.
Wow. I learned something new today! Thanks!
I learned something new! Thanks.