Joe Buffington, GRI, CDPE

Buzzuto is building a 79 unit Elderly and Memory Care facility. Some of you may remember Sunrise Assisted Living came with a similar proposal about 3 years ago. Since this facility is using the Sunrise plans, they did not need to go through the public feedback process again. There is a similar facility proposed just north of the Fire Department on Rt. 97. (you can see some of the details on my twitter account @joebuffington2)

Also Stanley Martin is building 2 new projects in the Olney area. The Orchard in Sandy Spring (34 home sites) and Rock Creek Preserve (117 single family homes)

Here is the Clarksburg Area supply and demand chart for April 2011. The Green bars respresent the percentage of available homes that sold this month. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

The absorption rate went up significantly from March 11. The available inventory may look high, but once you take out the short sales and foreclosures, the inventory is limited. If you were ever considering selling your home, now is the time.

Absorption Rates:

April 2011 13.4% absorption rate

April 2010 15.5% absorption rate

April 2009 8.7% absorption

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for April 2011. The Green Bars represent the percentage of sold homes in the available inventory this month. The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

Just like the Montgomery County numbers the absorption rates are a bit misleading. Alot of the available inventory is short sale and foreclosure. Many buyers can't and won't buy these properties. Please feel free to contact one of our great agents for any market information www.realty-md.com

Again I feel that the 2011 numbers will look very similar to last year. As we recover (and the DC area is one of the first), we will see a slight increase in the absorption rate.

Absorption Rates:

April 2011 13.2% absorption rate

April 2010 16.1% absorption rate

April 2009 9.0% absorption rate

Here is the Montgomery County, Maryland supply and demand chart for April 2011. The absorption rate is determined by the number of homes on the market and the number of homes selling that month

There is an interesting dynamic in the Montgomery County right now. The absorption rate is falling which typically indicates a lack of buyer interest. However, when we look at the available inventory, there is still a lot of short sales and foreclosures in numbers. Most buyers CAN'T or WON'T buy a foreclosure and/or short sale (that is a 5 pg blog for another day). So the available owner occupied, well price, good condition homes are getting purchased immediately. The market looks like it is cooling but it is actually heating up.

If you haven't been searching homes in the last 2 weeks you might be pleasantly surprised by what has come on to the market. To find a great agent to help your search www.realty-md.com

Absorption Rates:

April 2011 15.7% absorption rate

April 2010 17.6% absorption rate

April 2009 12.2% absorption rate

Here is the Montgomery County, Maryland supply and demand chart for March 2011. The absorption rate is determined by the number of homes on the market and the number of homes selling that month

We have seen a steady increase in the county absorption rate. As new inventory comes on the market in the Spring, we tend to see absorption rates level off. If the absorption rate increases in May, you know we are going to have a HOT Spring market. Stay tuned

Inventory is growing. So if you haven't been searching homes in the last 2 weeks you might be pleasantly surprised by what has come on to the market. To find a great agent to help your search www.realty-md.com

Absorption Rates:

March 2011 16.6% absorption rate

March 2010 15.4% absorption rate

March 2009 10.6% absorption rate