Commercial Absorption Rates – Prince William County – January 2012
Commercial Real Estate Absorption Rates for Prince William County are offered as a service of Michael’s Commercial LLC. The monthly absorption rates are categorized by the following Prince William County Zoning Districts:
- B-1 (General Business District)
- B-2 (Neighborhood Business District)
- B-3 (Convenience Retail District
- O(L) (Office Low-Rise District)
- O(M) (Office Mid-Rise District)
- O(H) (Office High-Rise District)
- O(F) (Office/Flex District)
- M-1 (Heavy Industrial District)
- M-2 (Light Industrial District)
- M/T (Industrial/Transportation District)
- PBD (Planned Business District)
- PMD (Planned Mixed Use District)
Absorption Rates are established by how many properties have sold during a given period of time (e.g., 365, 180, 90 and 30 days). Absorption rates also allow tracking trends in the market for any given number of days, weeks or months. These trends can indicate whether we may be in a Sellers Market, a Neutral Market or a Buyers Market. A monthly absorption rate of 5-6 is usually considered a Neutral Market. Anything below five is regarded as a Sellers Market and anything above six a Buyers Market.
- Sellers Market 1-4 Months Supply
- Neutral Market 5-6 Months Supply
- Buyers Market 7 Plus Months Supply
The following tables reflect the Monthly Absorption Rates* for respective Zoning Districts in Prince William County ending on January 31, 2012:
- Total Number of Properties on Market. The number of properties on the market during the reporting period.
- Total Number of Sales. The total number of Sold properties during the given reporting period.
- Monthly Absorption Rate. The rate at which the Sold properties were absorbed in the market on a monthly basis.
- Inventory. The number of available properties as of the reporting date.
- Months Supply. The number of months it will take the properties to sell based on the number of properties that have sold during the reporting period.
- Chance of Selling. The rate at which the properties in the inventory will sell based on the percentage of the total properties on the market and the total number of sales.
The tables above indicate that the commercial real estate market in Prince William County has been minimal during this reporting period. There were no commercial property sales within the last 30 days. Eight commercial properties are currently on the market. There are four fewer properties on the market than reported last month. We are presently in a Buyer’s Market.
- General Business District – Minimal activity – There was a decrease of four properties during this reporting period. Three properties are currently in the inventory.
- Neighborhood Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
- Convenience Retail District – No activity – No properties are currently in the inventory.
- Office Low-Rise District – Minimal activity – No increase in the number of properties during this reporting period. Two properties are currently in the inventory.
- Office Mid-Rise District – No activity – No properties are currently in the inventory.
- Office High-Rise District – No activity – No properties are currently in the inventory.
- Office/Flex District – No activity – No properties are currently in the inventory.
- Heavy Industrial District – No activity – No increase in the number of properties during this reporting period. No properties are currently in the inventory.
- Light Industrial District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
- Industrial/Transportation District – No activity – No properties are currently in the inventory.
- Planned Business District – Minimal activity – No increase in the number of properties during this reporting period. One property is currently in the inventory.
- Planned Mixed Use District – No activity – No properties are currently in the inventory.
*The data presented here is compiled from information provided by the Metropolitan Regional Information System.
The information provided here is the author’s own interpretation of the Prince William County Commercial Real Estate market and makes no warranty or claim regarding the usefulness or implications of this information.
Michael Setunsky is the Broker and owner of Michael's Commercial LLC serving the Northern Virginia commercial real estate market. He has been licensed since 1985 and a Broker since 1990. As a commercial real estate and business broker, he has earned the distinction for being one of the top commercial real estate producers in the Mid-Atlantic Region. He also serves on the Mid Atlantic Real Estate Marketing Association's (MAREMA) Board of Directors, and is a Commonwealth of Virginia licensed Instructor. He teaches Pre-licensing, Post Licensing Education, Broker's and Continuing Education courses. Visit his company web site at http://michaelscommercial.com/.
©2012 Michael’s Commercial LLC, All Rights Reserved – Commercial Absorption Rates – Prince William County – January 2012 – January 31, 2012
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Michael I have absolutely no commercial experience. Since Prince William is growing jobs I fail to understand why it's a buyer's market
Karen: It is a buyers market, but nothing seems to be moving right now. Not much on the market. The inventory is quite low.
Mike your indepth report for Prince Wil;liam gives consumer a really sense of what's happening in the market. Let's hope the market picks up soon.
Jennifer: We're looking forward to a great 2012. Thank you for your comment and the visit.
It doesn't appear to me that it is a buyers market OR a sellers market. But what do I know? It's not my market and I am not a commercial real estate agent! :)))
Joni: You may have a point. The market has slowed down in our area. Thanks for stopping by.
Incredibly in-depth report for you area. I just had dinner two nights ago with a commerical broker in Chicago. I didn't realize just how difficult your business is - I think I'll stay in residential!
Margaret: Commercial real estate is a specialty in its self. Thanks for the visit.
Michael - Great real estate market information for commerical property in Prince William county.
Michelle: Thank you and thank for stopping by.
Michael you produce the most amazing and thorough reports for anyone seeking commercial property in Prince William County!
Joan: Thank you very much. Your comment is much appreciated. Thank you for the visit.l
I am always amazed by the amount of information you put in these reports!
Barbara-Jo: Although it still takes some time to put them together, I have it down to a science collating and analyzing the data. Thank you for stopping by.
I just got a contract on a listing in an area with a 50% chance of selling - whew!
Teral: 50% sounds really good! We're not there yet, but it is coming back. Thanks for the visit.
You have the BEST commercial market reports not only for your area but that I have ever seen! Prince William County is lucky to have you as their commercial advisor!
Renee: Thank you very much. You put out some great looking market reports yourself. You comment is much appreciated.
Michael, there is nothing easy about marketing and selling commercial property is the current environment but you do a great job in your presentation of it...hope it gets better this year..
Ginny: that you very much. I predict this is going to be a good year. Thanks again.
Fantastic report, Michael. It will certainly be useful to an organization looking to make a move in your area. Great detail.
Kathryn: Thank you and thank you for stopping by.
Hi Michael, What a great market report and service you provide for your area and clients! The breakdown of absorption rates by zoning district is phenomenal! You are no doubt the agent to call when someone is looking for commercial real estate in Prince William County!
Linda: Thank you for your kind words and the visit.