Special offer

Commercial Absorption Rates - Prince William County - April 2009

By
Commercial Real Estate Agent

Commercial Absorption Rates – Prince William County – April 2009

Commercial Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:

  • B-1 (General Business District)
  • B-2 (Neighborhood Business District)
  • B-3 (Convenience Retail District
  • O(L) (Office Low-Rise District)
  • O(M) (Office Mid-Rise District)
  • O(H) (Office High-Rise District)
  • O(F) (Office/Flex District)
  • M-1 (Heavy Industrial District)
  • M-2 (Light Industrial District)
  • M/T (Industrial/Transportation District)

Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.

  • Sellers Market                         1-4 Months Supply
  • Neutral Market                        5-6 Months Supply
  • Buyers Market                            7 Plus Months Supply

The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on April 30, 2009:

Commercial Absorption Rate 1

Commercial Absorption Rate 2

 Commercial Absorption Rate 3

  • Total Number of Properties on Market. The properties that were available on the market during the reporting period.
  • Total Number of Sales. The total number of Sold properties during the given reporting period.
  • Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
  • Inventory. The number of available properties as of the report date.
  • Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
  • Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.

The tables above indicate that the commercial real estate market in Prince William County has been minimal during this reporting period. There was one commercial property sale within the last 30 days. We are currently in a Buyers Market.

  • General Business District – One Sale during this reporting period and 24 listings currently in the inventory. There is a 24 month’s supply of properties on the market.
  • Neighborhood Business District – No activity during this reporting period and one listing currently in the inventory.
  • Convenience Retail District – No activity during this reporting period.
  • Office Low-Rise District – No activity during this reporting period.
  • Office Mid-Rise District – No activity during this reporting period.
  • Office High-Rise District – No activity during this reporting period.
  • Office/Flex District – No activity during this reporting period.
  • Heavy Industrial District – No activity during this reporting period and four listings currently in the inventory.
  • Light Industrial District – No activity during this reporting period and two listings currently in the inventory.
  • Industrial/Transportation District – No activity during this reporting period.

*The data presented here is compiled from information provided by the Metropolitan Regional Information System.

The information provided here is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.

Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.

©2009 Michael’s Commercial LLC, All Rights Reserved – Commercial Absorption Rates – Prince William County – April 2009 – April 30, 2009

Posted by

 

Follow MCOM1 on Twitter

 

 

Comments (2)

Toula Rosebrock
Diane Turton, Realtors, Forked River, NJ - Lacey Township, NJ
Broker/Sales Associate, Realtor, Lacey Township,

ToulaRosebrock,com

Hi Michael:

Commercial real estate is a tough market.

Kudos to you for what you do!

Nice presentation of the stats in your areas.

Apr 30, 2009 07:37 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Toula: Thank you for your kind words. It's still tough and it will only get better. Thanks for the visit.

Apr 30, 2009 07:43 AM