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Commercial Absorption Rates – Prince William County – October 2010

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Commercial Real Estate Agent

Commercial Absorption Rates – Prince William County – October 2010

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)

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 Absorption Rates* for respective Zoning Districts in Prince William County ending on October 31, 2010:

Commercial Absorption Rates1

Commercial Land Absorption Rates2

Commercial Absorption Rates3

  • 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 no commercial property sales within the last 30 days. Nine commercial properties are currently on the market. Two commercial properties have sold within the last twelve months. We are presently in a Buyer’s Market.

  • General Business District – Minimal activity – No new listings during this reporting period. Six properties are currently in the inventory
  •  Neighborhood Business District – No activity – No new listings during this reporting period. No Properties currently in the inventory.
  • Convenience Retail District – No activity – No properties currently in the inventory.
  • Office Low-Rise District – No activity – No properties currently in the inventory.
  • Office Mid-Rise District – No activity – No properties currently in the inventory.
  • Office High-Rise District – No activity – No properties currently in the inventory.
  • Office/Flex District – No activity – No properties currently in the inventory.
  • Heavy Industrial District – No activity – No new listings during this reporting period. No properties currently in the inventory.
  • Light Industrial District – Minimal activity – No new listings during this reporting period. Three listings currently in the inventory
  • Industrial/Transportation District – No activity – No properties 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 of this information.

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 serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, 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/.

 

 

 

©2010 Michael’s Commercial LLC, All Rights Reserved – Commercial Absorption Rates – Prince William County – October 2010 – October 31, 2010

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Comments (18)

Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Lots of information here Michael.  The chance of selling is interesting, I have not seen that statistic used before.  Maybe I can use it to help sellers to lower their asking price to get a sale.

Nov 04, 2010 02:23 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Al: Chance of Selling is a useful tool for discussing price and the term of the listing. Thanks for the visit.

Nov 05, 2010 01:19 AM
Pasadena Short Sale Agents Pasadena Short Sales
Munson Realty Southern California Real Estate - Pasadena, CA

I admire how detailed you are with your data,the comercial side of realestate is very "numbers" driven while residential is very emotional. Good work my friend.

Nov 07, 2010 02:31 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Stephen: Thank you very much. Your comment is appreciated.

Nov 07, 2010 03:00 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Stephen, I haven't seen a commercial real estate market report like this one...great job and loads of information.

Nov 08, 2010 01:48 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

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

Nov 08, 2010 11:53 PM
Larry Lawfer
YourStories Realty Group - Newton, MA
"I listen for a living." It's all about you.

Michael, I agree there is great value here and I appreciate the work you have done to share it with us.  I often think of these posts as the antithesis of the nightly news, or the daily paper.  Here we get the unvarnished facts and we can make our own judgments based on fact.  So much better than the media that has a different ax to grind.  I also want to thank you for stopping by my blog recently to post a comment. This is one of the main reasons I like Active Rain so much.  Have a great week.

Nov 09, 2010 08:06 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Larry: Thank you very much and I appreciate your comment. Thank you for the visit and have a great week also.

Nov 09, 2010 09:29 AM
Pat Haddad, ABR, CRS, ePRO, GRI
Keller Williams Indianapolis Metro NE - Carmel, IN
Carmel, Fishers, Westfield IN Real Estate Expert

Michael--Commercial real estate is such a different animal than residential.  Interesting how many of your tables were filled with zeros!  I admire you and what you do.  I always thought I would like to dabble in commercial, but I don't think there is any such thing as dabbling!!

Nov 10, 2010 01:57 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Pat: You're right. You've got to make the commitment and jump in with both feet. It also helps to have a good mentor. Thank you for your comment and the visit.

Nov 10, 2010 02:06 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Love your comprehensive commercial reports and how you add the "chances of selling"

Nov 10, 2010 04:23 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Renee: I just wish the numbers were a lot better. Thank you for stopping by.

Nov 10, 2010 04:53 AM
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

A detailed information indeed.

Have a nice weekend, Michael!

Nov 19, 2010 03:18 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Joshua: Thank you very much for your comment and the visit.

Nov 19, 2010 03:28 AM
Not a real person
San Diego, CA

With just 36 days left in 2010, Zoey the Cool Cat and I just wanted to stop by and wish you a very Happy Thanksgiving. Hope it’s a great one, with lots of fun and food with family and friends!

Happy Thanksgiving!

Nov 25, 2010 02:58 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Russel: Thank you very much and Happy Thanksgiving to you and your family.

Nov 25, 2010 03:59 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Michael, This is a very comprehensive and informative commercial market report. You really break down the details and paint a picture of the commercial market. Looks like a lot of time went into creating this. Awesome job!

Nov 28, 2010 05:05 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kathleen: Thank you very much for your comment and for stopping by.

Nov 30, 2010 09:44 AM