Olney Area Supply and Demand Chart July 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 July 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 significant drop in June, July's numbers improved.  There was also an improvement over July 07.  My eye is on the 2nd half of 08 to see the market hold steady over 07.  It was this time last year that the market came to a standstill.

Absorption Rates: 

July 2008  14.5% absorption rate

July 2007  12.4% absorption rate

July 2006  19.7% absorption rate

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Joe Buffington

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