Based on numbers of sales for a given area we can determine "absorption rate."  Absorption rate is an estimate of how long it will take for all of the homes currently on the market (in a given area) to sell if no other homes come on the market.  Of course more homes are listed daily in most markets so the absorption rate is fluid - changes all the time.  But, looking at an absoprtion rate, will give you a rough idea of how long a home can potentially stay on the market before selling.  That's why it's imperative to price homes properly to make them one of the first homes picked by buyers who are active in the market now.

To get the absorption rate, for the following counties, take the number of homes sold since 1/1/09 and divide that number by the number of days so far this year (103 days as of 4/13/09).  This will give you an average number of homes sold daily.  Divide that number into the total homes on the market in each county and you will get the "absorption rate" for each county based on current sales for 2009. 

The absorption rates for the counties below are over two years (yes at the rate at which homes are selling now it will take over two years for all the homes on the market to be sold in those counties).  When the absorption rate is high we are in a period known as a Buyer's Market (lots of homes to choose from and no time constraint pressures to buy them).  We are definitely experiencing a Buyer's Market right now.

Absorption rates can be pretty sobering if you are home seller.  Call me or email me and I will explain.

These stats are for Homes in Caroline, Kent, and Queen Anne's County, in MD.

Caroline County, MD - Active (A) Home Listings in all price ranges:  374

Caroline County, MD - Under Contract (UC) Home Listings in all price ranges: 41

Caroline County, MD - SOLD (S) Homes 1/1/09 to Present:  49   

Kent County, MD - A Home Listings in all price ranges:  346

Kent County, MD - UC Home Listings in all price ranges: 28

Kent County, MDS Homes 1/1/09 to Present:  22

Queen Anne's County, MD - A Home Listings in all price ranges:  > 500 *

Queen Anne's County, MD - UC Home Listings in all price ranges: 64

Queen Anne's County, MD S Homes 1/1/09 to Present:  63

 

* Results taken from MRIS multi-list.  Search only goes to 500. This figure is greater than 500.