The Anne Arundel County Supply and Demand Chart June 2019 is featured right below. It's displayed twice so that the months of supply, when removed, allows the other metrics to become more visible.
Let's review the Anne Arundel County Supply and Demand Chart June 2019. If you would like a more in depth analysis of the additional charts, click here for yesterday's post. Each of these variables paint a picture of the health of the market. Or, here's a detailed look at the local Edgewater Market, too.
Here you go!
Months of Supply
The prime indicator, months of supply, is hovering around three months. Four to six months is a balanced market so this means the Anne Arundel County Supply and Demand Chart June 2019 tilts towards a Seller's Market. Per GetSmartCharts.com, ” Months of Supply (also known as “Months Supply of Inventory”) tells you how many months it would take for all the current homes for sale on the market to sell, given the sales rate for that market.”
GetSmartCharts points out that the “a higher Contract Ratio signifies a relative increase in contracts compared to supply, and indicates the market is moving in the seller's favor.” The two Spring Quarters are higher and log in at .78 and .68 compared to .50 in both Q1 and Q2.
Seller Success Rate
The Seller Success Rate is the opposite of the “contract fallout rate” per GetSmartCharts. It is defined as Seller Success Rate = (# Closed Sales / # Closed Sales + # Released Contracts). Q3 registered as .87, Q4 as .88, Q1 as .86 and the busy Q4 as .86.
New Pendings to New Listing Ratio
The new pendings to new listing ratio boils down to, per GetSmartCharts.com,“New Pending to New Listing Ratio = (New Pendings during period / New Listings during period). The New Pending to New Listing Ratio provides insight into the relationship between purchase activity and listing activity during the time period. Because it's a ratio, it can be read as “there were x contracts written per new listing added last month”. The higher the ratio, the more interested buyers there are relative to potential sellers.” The yellow bar below shows Q3 logged in as .78, Q4 .82, Q1 .83 and Q4 .80.
Absorption Rate for New Pendings
The absorption rate for new pendings, as defined by GetSmartCharts.com, is the rate at which homes are going to contract in the most recent month relative to the number of active listings at month's end. Q3 is 1.06, Q4 is .95, Q1 is 1.26, and Q2 is 1.37. The formula used is Absorption Rate (New Pendings) = (New Pendings in period / Active Listings at end-of-period). Please note that this will “often be higher than the absorption rate based on sales, particularly leading into the spring market. This is due to the normal 1-2 month lag between contract and closing and the fact that not all new pendings ultimately close.”
Absorption Rate for Closed Sales
The absorption rate for closed sales, per GetSmartCharts.com, is defined as: ” Absorption Rate (Closed Sales) = (Closed Sales in period / Active Listings at end-of-period). It's the rate at which homes are closing in a given area during a given time period. The higher the absorption rate, the faster homes are selling relative to supply. Absorption rate (closed sales) is calculated by dividing the number of closed sales in a given month by the number of available homes for sale at month's end. It is the inverse of months of supply based only on one period's sales count (rather than the 12-month average pace as applied to months of supply). Generally speaking, an absorption rate above 20% is considered a seller's market as it translates to 5 months of supply (based on a single month's sales rate).” The Q3 number is 1.01, Q4 .96, Q1 is .82 and Q2 is 1.13.
Check back for more information on The Anne Arundel County Supply and Demand Chart June 2019. The graphs will update to the current data the middle of each month.
If you would like a Golden Results Price Workout on the value of your home OR a Golden Results Analysis of the market in which you would like to purchase your home, call or email Cheryl Ritchie, RE/MAX Leading Edge, 301-980-7566 or GoldenGirl@GoldenResults.com for the Golden Results you deserve. These Anne Arundel County MD Real Estate Market Statistics are a good jumpstart for understanding any of the local Maryland Markets.
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(all data current as of 8/7/2020)
Listing information deemed reliable but not guaranteed. Read full disclaimer.