Well 2008 is over and the end of year results are in for Rockingham County. During most of 2008 the County struggled with an absorption rate of approximately 11months. This meant that homes in the County were taking approximately 11 months to sell. As I've posted before, the absorption rate is a reflection of how long it will take for the market to absorb up the current inventory of properties for sale. When the absorption rate is above 6 months the market is considered to be in a Buyers Market.
Rockingham County ended this year with a little bit of good news. The rate dropped down from a high of 11months to an end of the year number of 9.86 months. This shift down, although small, can still be looked at as a good sign for the County. I say this since all last year the County struggled with a double digit rate, does this mean we are heading towards better times for the County? I don't know the answer to that question, but the positive sign is that the rate dropped and more importantly it did not go up.
When marketing your property it is always important to be aware of current market trends, any changes and how it may effect you. I have over 10 years of experience in Real Estate and I consider myself someone who can bring my experiences to assist any Seller in Marketing their property. If you are considering selling your home, you need to have someone with the expertise and experience to help you navigate the ever changing waters of the Real Estate Market, so call me so that I can assist you with your largest financial dealing.
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