Here is the Olney Area (Olney, Brookeville, Brinklow, Ashton, and Sandy Spring) supply and demand chart for June 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.
After a bump in May, we saw a significant drop this month over last years absorption rate.
June 2008 11.1% absorption rate
June 2007 20.4% absorption rate
June 2006 17.5% absorption rate% absorption rate