Rockingham County Still In The Grip Of Buyers Market

Rockingham County appears to still be in the grips of a strong Buyers Market. I say this because I just finished calculating the absorbtion rate for the County (using properties between $100,000 and $900,000). Last year there were 3,603 properties sold (residential/condo) giving the County a per month sold rate of 300 for 2007. Currently their are 3,129 properties on the market for sale, when you divide the current amount of properties on the market (3,129) by last years per month total of 300, the absorption rate comes out to 10.43 months.

This rate of 10.43 means that it will take approximately 10.43 months for the market to absorb the current inventory of listings. The general rule of thumb when looking at absorption rates is that when the absorption rate is above 6 you are in a Buyers Market, when it is below 6 you are moving towards a Sellers Market.

Rockingham County's current absorption rate of 10.43, shows that as a County we are still strongly in a Buyers Market. Different Towns will reflect different absorption rates, for example Londonderry's rate is at 6.5 and Windham's rate is at 9.72.

Buyers/Sellers should view these numbers with great interest, since for the Buyer it is indicating that it remains their market and a great time to buy, while for Sellers it is indicating that pricing is key to marketing and successfully selling their home.