Yesterday, I wrote about how fast real estate was selling in Laurel MD zip code 20707.  Today I am going to discuss the rate at which homes sell in Laurel MD zip code 20708.  By the way, the term that is commonly used to describe how quickly homes are sold is called the absorption rate.  As I wrote yesterday, the absorption rate for zip code 20707 was 13%.

In Laurel MD zip code 20708 the number of homes currently active on the market is 69.  The number of homes currently marked pending/under contract is 16.  Using our fomula from yesterday, we divide the  lower number, 16, by the higher number, 69.  The resulting number,.19, translates to 19%.  This means that 19% percent of the homes for sale in zip code 20708 are selling in 30 days.   That is to say, the absortion rate for Laurel MD 20708 is 19%.

If the absorption rate is at 23% or less for an area, that area is in a buyer’s market.  One interesting note, the absorption rate is 6% higher in zip code 20708 than in zip code 20707.  This may be due to there being more single family homes in 20708.  And since everything is a good value these days, more people opt for the single family home over a town home or an apartment condominium.

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