Olney Area Supply and Demand Chart May 2008

By
Real Estate Broker/Owner with RE/MAX Realty Centre

Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for April 2008.  The Red lines are the active homes, blue under contract, and green are sold.  The absorption rate is determined by the number of homes on the market and the number of homes selling that month.

We actually saw the absorption rates climb over May 07 numbers.  That is a great sign of a healthy real estate market.

Absorption Rates: 

May 2008  14.2% absorption rate

May 2007  12.4% absorption rate

May 2006  19.9% absorption rate

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Maryland Montgomery County Olney
Groups:
RE/MAX Active Rain Bloggers
Tags:
olney
montgomery county
maryland
brookeville
ashton
brinklow
sandy spring
market
trends
absorbition
rates
statistics
home
sales

Spam prevention
Show All Comments
Ambassador
2,088,474
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Excellent information for real estate inventory in Olney  .is that broker metriccs?

 

Jun 28, 2008 04:37 AM #1
Rainmaker
28,608
Joe Buffington
RE/MAX Realty Centre - Olney, MD
GRI, CDPE

Yes it is.  Wonderful program.  It has really brought the numbers to life.  Many times we rely on the media for our statistics, but I have been increasingly frustrated with how the data is presented.  For instance, the headline reads "Foreclosures rose 50% in 2007".  True...They went from .5% of the existing mortages to 1% of the existing mortgages.  Some stats sound a lot worse than they really are. 

Jul 01, 2008 06:10 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
28,608

Joe Buffington

GRI, CDPE
Ask me a question
*
*
*
*

Additional Information