Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for February 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.
Just like the statistics for Montgomery County, the Olney numbers for February for the last 3 years looks almost identitical to the January numbers for the last 3 years.
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:
February 2011 11.7% absorption rate
February 2010 12.1% absorption rate
February 2009 6.8% absorption rate
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