Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for January 2011. 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.
Another steady month of growth in Olney. Things are really up for an active Spring market. Many savvy sellers and buyers are already seeing market activity increase in what should be the dead of winter. We anticipate 2011 to be very much like 2010 in the real estate market.
Absorption Rates:
January 2011 11.3% absorption rate
January 2011 11% absorption rate
January 2011 7.1% absorption rate
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