As we enter the Fall market and head into the final stretch of the
2009 Real Estate year I decided that it would be a good idea to look
at the Absorption Rate for Windham in three categories. The first is
to see what is the Towns overall absorption rate (for an explanation
of absorption rates go to www.chris-bonta.com) is, second I wanted to
see the rate for Residential only and third to look at the rate for
Condominiums.
Although news regarding real estate has been more positive lately, our
market continues to be weak, a good indicator of this is the fact
that appraisers still consider Rockingham County to be in a declining
value state. In calculating the absorption rate for Windham I looked
at properties between $50,000 up to $1,300,000, and what I found is
that the Towns market continues to be very weak. The overall
absorption rate for the Town came in at 14.5 months and the average
days on the market for Residential properties was 110 and for
Condominiums it was 153. The break down of the absorption rate
between Residential and Condominium does show that the Condo market is
doing much worse than the Residential market, the absorption rate for
Condos is 18.27 months compared to the Residential market rate of
12.65 months.
If you are thinking of selling your home or currently have your home
on the market you need to take a careful look at these figures and the
amount of days on the market the average property is spending.
Based on information from the Northern New England Real Estate
Network, Inc. for the period 10/01/2008 to 9/30/2009
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