Ellicott City Realtor Catonsville Realtor

Top Seller Tuesday - Absorption Rates for Catonsville

May Absorption Rate for 21228 Zip Code - Catonsville, Maryland:

All Homes:  27 weeks of inventory

Homes valued under $300,000: 24 weeks of inventory

Homes valued over $300,000:  36 weeks of inventory

May Absorption Rate for 21229 Zip Code - Catonsville, Maryland:

All Homes:  124 weeks of inventory

Homes valued under $300,00:  128 weeks of inventory

Homes valued over $300,000:  26 weeks of inventory

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, Catonsville home sales, or how long it will take to sell your home, please feel free to contact me. 

Top Seller Tuesday - Absorption Rates for Ellicott City

May Absorption Rate for 21042 Zip Code - Ellicott City, Maryland:

All Homes:  41 weeks of inventory

Homes valued under $300,000: 13 weeks of inventory

Homes valued over $300,000:  46 weeks of inventory

May Absorption Rate for 21043 Zip Code - Ellicott City, Maryland:

All Homes:  28 weeks of inventory

Homes valued under $300,000:  28 weeks of inventory

Homes valued over $300,000:  28 weeks of inventory

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, Ellicott City home sales, or how long it will take to sell your home, please feel free to contact me. 

Top Seller Tuesday - Absorption Rates for Elkridge

March Absorption Rate for 21075 Zip Code - Elkridge, Maryland:

All Homes:  55 weeks of inventory
Homes valued under $300,000: 44 weeks of inventory
Homes valued over $300,000:  98 weeks of inventory

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, Elkridge home sales, or how long it will take to sell your home, please feel free to contact me. 

Top Seller Tuesday - March Absorption Rates for Catonsville

March Absorption Rate for 21228 Zip Code - Catonsville, Maryland:

All Homes:  56 weeks of inventory
Homes valued under $300,000: 49 weeks of inventory
Homes valued over $300,000:  86 weeks of inventory

March Absorption Rate for 21229 Zip Code - Catonsville, Maryland:

All Homes:  100 weeks of inventory
Homes valued under $300,00:  100 weeks of inventory
Homes valued over $300,000:  26 weeks of inventory

Although these numbers appear to show a significant downward trend, and make things look difficult for Catonsville Home Sellers, I believe they simply reflect a temporary slowing of the market in the month of February.  This slowing was likely due in part to weather, and in part to the time of year, and was reflected in lackluster Showings, Contracts and Closings in the month of February.
 
If you own a Catonsville home and are thinking of selling, take note:  already in March, we have seen:

• Greatly increased showings on all properties as compared to February
• An increase in the number of Buyer prospects
• An increase in the number of Contracts written and scheduled Closings

I believe that next month's Absorption Rates will be much improved, and will show a true representation of what's happening in the real estate market here in Catonsville today.

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, Catonsville home sales, or how long it will take to sell your home, please feel free to contact me.

Top Seller Tuesday - Absorption Rates for Ellicott City

Current Absorption Rate for 21042 Zip Code - Ellicott City, Maryland:

All Homes:  37 weeks of inventory
Homes between $0 - $300,000: 50 weeks of inventory
Homes between $300,000 - $600,000:  36 weeks of inventory

 Current Absorption Rate for 21043 Zip Code - Ellicott City, Maryland:

All Homes:  33 weeks of inventory
Homes between $0 - $300,000:  39 weeks of inventory
Homes between $300,000 - $600,000:  32 weeks of inventory

These numbers show some improvement when compared to the numbers I posted in October 2010, particularly for the 21043 zip code.  However, 33 weeks of inventory is still a significant number.  Absorption rates don't tell the whole story - if you are thinking of selling your home, and want to understand more about what's happening in the Ellicott City Real Estate market, please don't hesitate to call me.

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, or how long it will take to sell your home, please feel free to contact me.

Top Seller Tuesday - Absorption Rates for Columbia

October Absorption Rate for 21044 Zip Code - Columbia, Maryland:
All Homes:  54 weeks of inventory
Detached Homes: 31 weeks of inventory
Townhomes and Condos:  85 weeks of inventory

October Absorption Rate for 21045 Zip Code - Columbia, Maryland:
All Homes:  36 weeks of inventory
Detached Homes:  24 weeks of inventory
Townhomes and Condos:  56 weeks of inventory

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, or how long it will take to sell your home, please feel free to contact me. 

Top Seller Tuesday - Absorption Rates for Ellicott City 

October Absorption Rate for 21042 Zip Code - Ellicott City, Maryland:

All Homes:  43 weeks of inventory
Homes between $0 - $300,000: 56 weeks of inventory
Homes between $300,000 - $600,000:  35 weeks of inventory

October Absorption Rate for 21043 Zip Code - Ellicott City, Maryland:

All Homes:  49 weeks of inventory
Homes between $0 - $300,000:  59 weeks of inventory
Homes between $300,000 - $600,000:  39 weeks of inventory

Read this post to find out more about Absorption Rates and what they mean.  If you'd like more information about absorption rates for your area, how much your home is worth, or how long it will take to sell your home, please feel free to contact me. 

Top Seller Tuesday:  Absorption Rate - Questions and Answers for the Maryland Real Estate Market

Q:  What is an Absorption Rate?
A:  The absorption rate for a market is a statistic that tells, based on the recent sales volume, how long it would take to sell the current inventory of homes in a given area.  The statistic is usually provided in weeks or months.

Q:  So, will this number tell me how long it will take to sell my home?
A: No.  But it can give you an idea of how much competition you are facing, and how ‘hot' your market is.  Or is not.  Here in the Greater Baltimore area, an Absorption Rate of about 22 - 26 weeks is considered to reflect a stable market.  Absorption rates of less than 22 weeks would suggest a Seller's market, and Absorption Rates of more than 26 weeks would Suggest a Buyer's Market.  It's also important to note how the Absorption Rate varies over time.

Q:  So why do I care?
A:  If you're selling your home, the Absorption Rate is a very valuable statistic.  It is one statistic that many Realtors don't talk about in their listing presentation.  Depending on your goals, and on what's most important to you, this statistic can help you plan the marketing strategy for your home.

Each week for Top Seller Tuesday I will be posting the current Absorption Rate for a particular zip code.  The Absorption Rate in your zip code, or even just in your neighborhood could be very different.  It can vary by price point within a neighborhood or zip code (for example, the Absorption Rate of $350,000 homes in 21042 could be vastly different from the Absorption Rate of $800,000 homes in 21042).

If you'd like the Absorption Rate for a particular market and/or price range, please feel free to contact me.

Top Seller Tuesdays - Spend a Little, Get a Lot!  A series of weekly tips for sellers that are simple, quick and designed to bring you top value.

• Consider renting a bank safe deposit box to store cash and small valuables as long as your house is being shown.

If you'd like more information about preparing your home for sale, feel free to contact me.

Top Seller Tuesdays - Spend a Little, Get a Lot! A series of weekly tips for sellers that are simple, quick and designed to bring you top value.

• Replacing a cracked and broken walkway with cement stepping stones purchased from a home improvement store is an inexpensive but attractive way to create a new path to the front door.

If you'd like more information about preparing your home for sale, feel free to contact me.