An absorption rate is a calculation that indicates how many months of inventory are remaining available in a certain micro real estate market at the current rate of properties going under contract.
The rate of properties coming on the market is just one piece of the market conditions puzzle.
Are there enough buyers for the number of properties available, or are there too many properties available? Too many properties can mean that it might take eight months or a year at the current rate of sales for the current inventory to sell. That often leads to prices softening, which would indicate a buyer’s market.
In short, you should be sure to know what is going on in your micro-market before making a move.
One of the most fulfilling parts of our job is helping our clients
navigate the many challenges that arise during the course of a real
estate transaction. Whether there are issues with title to the
property, confusion about the underlying mortgage on your coop, or
property condition disclosures—just to name a few—we consider
ourselves to be a catalyst for resolving the unexpected. The more
experience an agent has, the more likely they are to be able to
quickly resolve an issue so you can get to the end of the transaction
with a smile on your face and the results you deserve.
Let us know how we can help you prepare for your next real estate transaction today! Please contact us or give us a call!
This video from 1990 looks at the long and rich history of the District’s smallest quadrant, Southwest DC. From its days of slave markets, underground railroads, and the effects of mid-century urban renewal.