Edgewater MD Supply and Demand Analysis
Let’s do a quick Edgewater MD 21037 Supply and Demand Real Estate Market Analysis starting with the June 2019 Statistics. Each month, the colorful interactive chart below will update. Let’s take a look at June 2019.
Edgewater MD Months of Supply
The Royal Blue line, or months of supply, for the last four quarters is hovering five months and below with the biggest dip in the last quarter of 2018. Four to six months is considered a healthy market. So over the last year you can visually see a healthy market that teeters a bit in the Seller’s favor.
Edgewater MD Contract Ratio
Look at the second chart! When you remove the months of supply metric, the other 5 factors are much easier to read.
The red bar, or contact ratio, is this formula:
Contract Ratio = (All Pendings at end-of-period / Active Listings at end-of-period)
This looks at the total number of pendings at month’s end and how the total compares to the number of active listings. Per GetSmartCharts.com, “All Pendings” encompasses any listings that were Under Contract (including contingent contracts) at month’s end, including those that entered the month in Under Contract status. A higher Contract Ratio signifies a relative increase in contracts compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contracts compared to supply, and indicates the market is moving in the buyer’s favor.” To review, this red bar is steadily going up for three quarters approaching Spring in the Seller’s favor, and then drops very slightly in Q2 2019. This gives insight into the Edgewater MD 21037 Real Estate Supply and Demand.
Edgewater MD Absorption Rate
The purple absorption rate for new pendings and the green absorption rate for closed sales in Edgewater MD for the past four Quarters are shown next. To explain, per GetSmartCharts.com,
Absorption Rate (New Pendings) = (New Pendings in period / Active Listings at end-of-period)
“The absorption rate based on new pendings 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. The Absorption Rate based on new pendings will often be higher than the absorption rate based on sales, particular 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.” The purple bar dropped from .95 to .93 from the first to the second quarter 2019.
Absorption Rate (Closed Sales) = (Closed Sales in period / Active Listings at end-of-period)
However, the green bar, or the absorption rate for closed sales, rose from .66 to .72 from the first to the second quarter 2019. GetSmartCharts.com defines this green bar metric as, ” The absorption rate is 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). ” What a valuable toolset for reviewing Edgewater MD 21037 Suppply and Demand.
Edgewater MD New Pending to New Listings
New Pending to New Listing Ratio = (New Pendings during period / New Listings during period)
The yellow bar, or the new pending to new listing ratio, as defined by GetSmartCharts.com is
“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. ” This went from .75 to .69 in the first two quarters of 2019.
Edgewater MD Seller Success Rate
Seller Success Rate = (# Closed Sales / # Closed Sales + # Released Contracts) “Of all the Listings that moved out of pending status during a given time period, what percentage were successfully closed” gets addressed with the aqua tool bar. It is basically the opposite of the “contract fallout rate”. This is another tool to view Edgewater MD 21037 Suppply and Demand over time. It moved from .86 to.82 in Q3 and Q4 fo 2019.
Edgewater MD Current Listings
This current June 2019 Edgewater MD 21037 Supply and Demand Real Estate Market Analysis includes the two graphs and charts for June that come out the middle of each month from GetSmartCharts.com, utilizing the BrightMLS data, plus active Edgewater Listings to peruse. Also, click GoldenResults.com/definitions for a more elaborite explanation from BrightMLS for these statistics.
Edgewater MD Home Search
Are you searching for homes in a particular Maryland area? Pricing one to sell? Want to know, “How’s the Real Estate Market?” in that area? Call, text, email, fax or phone Cheryl Ritchie, RE/MAX Leading Edge, for the Golden Results you deserve in selecting or pricing your Maryland Home for purchase or sale. You’ll Retrieve Golden Results with Cheryl Ritchie, RE/MAX Leading Edge. Contact info: GoldenGirl@GoldenResults.com 301-980-7566 Cell 410-224-3200 Office.
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8207 ELM LANE, CHESAPEAKE BEACH, MD
Waterview LOT located at end of Elm Lane adjacent to Creek and walking distance to the Chesapeake Bay! This level lot is adjacent to a second and separately deeded lot on Elm for an additional $10,000. SOLD AS IS. NO Permits. Check Zoning Use. Title Exam performed early May 2018. Agent is Related. CASH/Proof of CASH. AS IS! Adjacent lot # MDCA169642 is also $10,000. Both are listed under Commerical MLS# MDCA169664 and # MDCA169662. See Addendum in View Docs. Check with Town/County for Hookup and Impact Fee Costs etc. Go and Show! Text or Email L/A if showing property.
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