Top Seller Tuesday - March Absorption Rates for Catonsville

Top Seller Tuesday - March Absorption Rates for Catonsville

March Absorption Rate for 21228 Zip Code - Catonsville, Maryland:

All Homes:  56 weeks of inventory
Homes valued under $300,000: 49 weeks of inventory
Homes valued over $300,000:  86 weeks of inventory

March Absorption Rate for 21229 Zip Code - Catonsville, Maryland:

All Homes:  100 weeks of inventory
Homes valued under $300,00:  100 weeks of inventory
Homes valued over $300,000:  26 weeks of inventory

Although these numbers appear to show a significant downward trend, and make things look difficult for Catonsville Home Sellers, I believe they simply reflect a temporary slowing of the market in the month of February.  This slowing was likely due in part to weather, and in part to the time of year, and was reflected in lackluster Showings, Contracts and Closings in the month of February.
 
If you own a Catonsville home and are thinking of selling, take note:  already in March, we have seen:

• Greatly increased showings on all properties as compared to February
• An increase in the number of Buyer prospects
• An increase in the number of Contracts written and scheduled Closings

I believe that next month's Absorption Rates will be much improved, and will show a true representation of what's happening in the real estate market here in Catonsville today.

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, Catonsville home sales, or how long it will take to sell your home, please feel free to contact me.