Commercial Land Absorption Rates – Prince William County – November 2013

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Commercial Land Absorption Rates – Prince William County – November 2013

By Michael Setunsky

Commercial Land 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)
  • MIXED (Mixed Commercial Use)
  • PBD (Planned Business District)
  • PMD (Planned Mixed Use District)

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

Commercial Land Absorption Rate 1
Commercial Land Absorption Rate 2
Commercial Land Absorption Rate 4
  • Total Number of Properties on Market. The properties available 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 report 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 land real estate market in Prince William County has been minimal during this reporting period. No properties have sold during the last 30 days. There are currently 34 properties on the market, a net decrease of eight properties listed since last reported. Two properties are Under Contract w/No Kick Out. We are presently in a Buyer’s Market.

  • General Business District – Minimal activity – There was a net decrease of two properties during this reporting period. Sixteen properties are currently in the inventory.
  • Neighborhood Business District – Minimal activity – There was no net increase/decrease in properties during this reporting period. One property is currently in the inventory.
  • Convenience Retail District – Minimal activity – There was no net increase/decrease in properties during this reporting period. One property is currently in the inventory.
  • Office Low-Rise District – Minimal activity – There was no net increase/decrease in properties during this reporting period. No properties are 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 no net increase/decrease in properties during this reporting period. One property is currently Under Contract w/No Kick Out. Three properties are currently in the inventory.
  • Light Industrial District – Minimal activity – There was a net decrease of six properties during this reporting period. Six properties are currently in the inventory.
  • Industrial/Transportation District – Minimal activity – There was no net increase/decrease in properties during this reporting period. One property is currently Under Contract w/No Kick Out. One property is currently in the inventory.
  • MIXED – Minimal activity – There was no net increase/decrease in properties during this reporting period. Two properties are currently in the inventory.
  • Planned Business District – Minimal activity – There was no net increase/decrease in properties during this reporting period. Three properties are currently in the inventory.
  • Planned Mixed Use District – Minimal activity – There was no net increase/decrease in properties during this reporting period. One property is 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 Land Absorption Rates for Prince William County during the previous 12 months:

Commercial Land Absorption Rates – Prince William County – October 2013
Commercial Land Absorption Rates – Prince William County – September 2013
Commercial Land Absorption Rates – Prince William County – August 2013
Commercial Land Absorption Rates – Prince William County – July 2013
Commercial Land Absorption Rates – Prince William County – June 2013
Commercial Land Absorption Rates – Prince William County – May 2013
Commercial Land Absorption Rates – Prince William County – April 2013
Commercial Land Absorption Rates – Prince William County – March 2013
Commercial Land Absorption Rates – Prince William County – February 2013
Commercial Land Absorption Rates – Prince William County – January 2013
Commercial Land Absorption Rates – Prince William County – December 2012
Commercial Land Absorption Rates – Prince William County – November 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 Land Absorption Rates – Prince William County – November 2013 – November 30, 2013
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Rainer
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Marshall Enterprises
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Hi, Michael, Just stopped by to thank you for the comment and hoping you are having a relaxing weekend!

Jun 27, 2014 10:43 PM #1
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Michael Setunsky
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Marshall: You are welcome and thanks for stopping by.

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Thanks for a great overview of the commercial markets in your area, Michael.  You should post them again!

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Michael Setunsky
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Suzanne: Thanks for your comment and the visit.

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