A few months ago I posted a blog regarding the absorption rate for the Town of Londonderry and I stated that through June Londonderry had an absorption rate of 6.5 months. This meant that Londonderry properties for sale were seeing an average market time of 6.5 months and based on historical statistics an absorption rate of approximately 6 months is not considered to be bad.
When a market is in a "Sellers Market" the absorption rate is below 6 months, somewhere around 2-3 months is a strong Sellers Market. If we are above the 6 month mark, then the market is considered to be in a "Buyers Market". Although Londonderry's current absorption rate is above the magic 6 month mark (currently holding at 6.6) it remains steady and has not moved higher up. This is continued good news for Londonderry residents, since this indicates that our market continues to be stronger than most Towns in Rockingham County.
If you are thinking of Selling your house and would like more information regarding your homes value and what is currently going on in the market, please feel free to contact me. I look forward to serving all your Real Estate needs.