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Commercial Absorption Rates – Prince William County – June 2013

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Commercial Real Estate Agent

Commercial Absorption Rates – Prince William County – June 2013

By Michael Setunsky

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)
  • PBD (Planned Business District)
  • PMD (Planned Mixed Use District)

Commercial 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 Commercial Absorption Rates* for respective Zoning Districts in Prince William County ending on June 30, 2013:

 Commercial Absorption Report 1

Commercial Absorption Report 2

Commercial Absorption Report 3

  • Total Number of Properties on Market. The number of properties 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 reporting 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 were four commercial property sales within the last 30 days. Twenty-six commercial properties are currently on the market, a net increase of two properties listed since last reported. There are currently two properties Under Contract, one property Under Contract w/No Kick Out and one property Under Contract w/Kick Out. We are presently in a Buyer’s Market.

  • General Business District – Minimal activity – There was a net increase of two properties during this reporting period. Two properties are currently Under Contract. One property is Under Contract w/No Kick Out and one property is Under Contract w/Kick Out. Two properties have sold during this reporting period. Nineteen properties are currently in the inventory.
  • Neighborhood Business District – No activity –No properties are currently in the inventory.
  • Convenience Retail District – No activity – No properties are currently in the inventory.
  • Office Low-Rise District – Minimal activity – There was a net decrease of one property during this reporting period. One property is currently in the inventory.
  • Office Mid-Rise District – No activity – No properties are currently in the inventory.
  • Office High-Rise District – No activity – No properties are currently in the inventory.
  • Office/Flex District – No activity – No properties are currently in the inventory.
  • Heavy Industrial District – Minimal activity – There was a net decrease of one property during this reporting period. One property is currently Under Contract. Two properties have sold during this reporting period. Two properties are currently in the inventory.
  • Light Industrial District – Minimal activity – There was a net increase of one property during this reporting period. Two properties are currently in the inventory.
  • Industrial/Transportation District – No activity – No properties are currently in the inventory.
  • Planned Business District – Minimal activity – There was a net increase of one property during this reporting period. Two properties are currently in the inventory.
  • Planned Mixed Use District – No activity – No properties are currently in the inventory.

 

*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 from using this information.

Commercial Absorption Rates for Prince William County during the previous 12 months:

Commercial Absorption Rates – Prince William County – May 2013
Commercial Absorption Rates – Prince William County – April 2013
Commercial Absorption Rates – Prince William County – March 2013
Commercial Absorption Rates – Prince William County – February 2013
Commercial Absorption Rates – Prince William County – January 2013
Commercial Absorption Rates – Prince William County – December 2012
Commercial Absorption Rates – Prince William County – November 2012
Commercial Absorption Rates – Prince William County – October 2012
Commercial Absorption Rates – Prince William County – September 2012
Commercial Absorption Rates – Prince William County – August 2012
Commercial Absorption Rates – Prince William County – July 2012
Commercial Absorption Rates – Prince William County – June 2012

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 served on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors as the Past President, 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/.

©2013 Michael’s Commercial LLC, All Rights Reserved – Commercial Absorption Rates – Prince William County – June 2013 – June 30, 2013

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Comments (24)

Larry Lawfer
YourStories Realty Group - Newton, MA
"I listen for a living." It's all about you.

Your continuing detailed reports provide a great snapshot into what is going on.  Good for you.

Jul 02, 2013 02:59 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Larry: I appreciate your comment and thank you for the visit.

Jul 02, 2013 03:15 AM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Michael, You know the commercial market in Northern Virginia.  Your posts always have details that will benefit anyone interested in that market. 

Jul 02, 2013 09:35 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Judi: Thank you very much and thank you for stopping by.

Jul 02, 2013 10:12 PM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Interesting article Michael Setunsky. Keep up the good work! Have a nice 4th of July.

Jul 03, 2013 12:44 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Will: The same to you. Thanks for the visit.

Jul 03, 2013 03:16 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Michael, as always a detailed report about the commercial absorption rates and the commercial real estate market of your area.

Jul 04, 2013 03:52 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Silvia: Thank you for your comment and for stopping by.

Jul 04, 2013 03:56 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

You certainly know the commercial market in your area. Buyers and sellers alike are fortunate to you are available to represent them.

Make it a great weekend!

Jul 06, 2013 01:36 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joe: Thank you very much and have a great weekend too!

Jul 06, 2013 02:10 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, you are always on top of the absorption rates for Prince William County, and valuable information.

Jul 07, 2013 11:04 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joan: thank you very much and thank you for stopping by.

Jul 07, 2013 11:49 PM
Barbara Altieri
Better Homes and Gardens RE Shore and Country Properties - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Michael -- This is certainly the place to come to see how quickly commercial is selling in Prince William County.  Valuable info for both buyers and sellers to get a handle on the market.

Jul 10, 2013 07:22 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Barbara: Thank you very much for your comment. I hope it helps those buyers and sellers.

Jul 10, 2013 07:46 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor
Hi Michael. Thanks for commercial update for Prince William County. These stats are so valuable for investors whether they are seller or buyer. Good luck.
Jul 11, 2013 02:30 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Hi Mary: I hope they find these posts useful. Thank you and thanks for the visit.

Jul 11, 2013 10:32 PM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Michael-That is a challenging commercial market. Lot more supply than demand.

Jul 18, 2013 03:40 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Wayne: Still working on the demand part. Thanks for your comment and the visit.

Jul 19, 2013 01:35 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, great information for anyone seeking commercial properties in Prince William County!

Jul 23, 2013 10:37 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joan: Thank you and thank you for the visit.

Jul 23, 2013 10:41 AM