Why is the absorption rate crucial in understanding the current housing inventory situation in Northern Virginia and Stafford County? Mark Worrilow of Fathom Realty explains how this key metric helps buyers and sellers navigate the dynamic real estate landscape.
Mark has years of experience and a deep understanding of local market trends. His personalized approach ensures that you get the best possible advice and outcomes whether you are buying or selling. Mark has successfully helped numerous clients navigate the complexities of the real estate market, securing the best deals and selling homes quickly.
His knowledge of the absorption rate and other key market indicators gives you a competitive edge.
When people discuss the market, terms like âsellerâs marketâ or âbuyerâs marketâ are often used without clear definitions. The absorption rate provides this clarity by comparing the number of homes sold to those actively listed on the market. This metric indicates how quickly homes are selling and how long it would take to deplete the current inventory at the current sales pace.
In Stafford County, for instance, the absorption rate is approximately 1.5 months, meaning that if no new homes were listed, it would take about a month and a half to sell all available properties. This figure is crucial as it reflects the market’s pace and helps buyers and sellers make informed decisions.
Understanding the absorption rate is vital for sellers because it shows how fast homes are moving. This knowledge can help in pricing strategies and timing decisions, ensuring their property is competitively positioned in the market. On the other hand, buyers must be aware of this rate to avoid missing out on desirable properties in a fast-paced market.
Quick decision-making can be essential in securing a home.
The absorption rate also helps define whether the market favors buyers or sellers. An absorption rate of one to three months typically signals a sellerâs market, which is the case in Northern Virginia and Stafford County. With strong demand and the regionâs commuting advantages, this trend is expected to continue.
Understanding the absorption rate is more than just knowing a number; itâs about grasping the market dynamics that affect your ability to buy or sell a home. This knowledge empowers you to make more informed, strategic decisions in the real estate market.
Understanding the absorption rate is crucial to staying ahead in the fast-paced real estate market of Northern Virginia and Stafford County.
Contact Mark Worrilow today for a consultation and discover how his expertise can benefit you. You can make informed, strategic decisions and achieve your real estate goals with Mark’s guidance. Don’t miss out on this opportunity to work with one of the top real estate professionals in the region!
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The “Souper Bowl” returns to Historic Downtown Manassas for First Friday on February 7, 2025, with a sold-out crowd ready to sample soups from top local restaurants. Attendees will explore downtown, tasting a diverse selection of soupsâfrom classic Tomato Basil Bisque to bold Pork Belly Ramen and Cocoa Cloud Dessert Soupâserved at various businesses. Participants will vote for their favorite, crowning one soup the ultimate winner. With new contenders and returning favorites, the event promises a flavorful journey. Missed out this year? Stay tuned for next yearâs Souper Bowl and more exciting First Friday events in Manassas.
Award-winning brand Always Flavored is relocating across the street from 610 to 619 Caroline St., with plans to open by March 31, 2025. The move allows for an expanded selection of hot sauces, seasonings, and gourmet products, plus tastings and events.
The announcement comes as the brand celebrates recent award wins:
Ritabeata’s Mild Sauce â 2nd place (International Flavor Awards)
Peri Peri Sauce â 3rd place (2025 Scovie Awards)
A grand opening celebration is planned.
In this Potomac Local News Podcast episode, host Uriah Kiser sits down with Craig Wade, President of the Prince William Association of Realtors, and Matthew Rathbun, President-Elect of the Fredericksburg Area Association of Realtors. They discuss the latest trends in the local real estate market, the impact of rising interest rates, and the challenges first-time homebuyers face in Northern Virginia.
The conversation also dives into the region’s housing inventory, with insights on the growing demand for homes and the lack of affordable options, especially in areas like Prince William, Fredericksburg, and Stafford. Craig and Matthew share their predictions for 2025, the future of smart growth, and the importance of balancing development with affordability.
Looking for a furry friend who can steal your heart? Look no further than Chloe, the 5-year-old Maremma Sheepdog, waiting for her forever home at the Prince William County Animal Shelter.
Chloe isn’t just any dogâshe’s an Italian superstar in livestock protection, with a personality as impressive as her heritage. This lovable lady may have a calm and gentle demeanor, but donât let her laid-back attitude fool youâsheâs a heart-stealer extraordinaire!
Chloe is ready to charm her way into your home, and sheâs patiently waiting for someone special to give her the love she deserves. Are you ready to make room for Chloe in your life?
Visit the Prince William County Animal Shelter today to meet Chloe and other wonderful animals available for adoption. For more information or to contact the shelter, visit www.pwcva.gov/department/animal-services. Don’t waitâcome see Chloe today, and you might just find your new best friend!
Travel to French soil and join us for a night filled with two of the most beloved French traditionsâno plane ticket required! ?
On January 25th, we invite you to experience the magic of Galette des Rois, a 700-year-old tradition celebrated across France throughout the entire month of January (and even beyond!). This sweet, almond-filled puff pastry topped with a golden crown isn’t just a treatâit’s a celebration! The lucky person who finds the fĂšve (a porcelain charm hidden in one of the slices) becomes the King or Queen for the Day, and donât worryâthere will be plenty of royalty to go around! ??
But thatâs not all! In France, Les Voeux (New Yearâs wishes) continue throughout January, often accompanied by Champagne and good cheer. Weâre bringing that festive spirit to you, with a lively evening packed with French food, wine, and music.
Whatâs in store:
Experience the passion and drama of Pucciniâs âThe Girl from the Golden Westâ.
Featuring special guest musicians from The Chesapeake Youth Orchestra,
this performance brings Pucciniâs masterpiece to life with an extraordinary cast.
