Spotsylvania County Absorption Rate (August 2009)

By From http://fredericksburgrealestateblog.com • Aug 27th, 2009 • Category: Blog Entries.Local, RealEstate.Local

The traditional method of calculating the absorption rate, shows that there is 8.89 months worth of inventory in Spotsylvania County.  However, as I mentioned in a previous article, you really can’t use the traditional formula for calculating inventory in the Fredericksburg real estate market right now.  That is because many, many homes that are under contract do not close in the standard 30-45 days because they are short sales.

So, the real answer to what the inventory is right now, revolves around a formula involving homes that are under contract and no longer available, and homes that have sold in the last 30 days.  The TRUE answer to the inventory question is 2.14 months.  That means that the current inventory, and the current rate of sale and contract would deplete in 2.14 months if no more homes came on the market.  That means homes are moving quickly!!! 

So, again for those who want to capitalize on the $8,000 tax credit, by buying a home in the Fredericksburg real estate market, they need to act pretty quickly.

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