Commercial Land Absorption Rates – Prince William County – August 2012

By
Commercial Real Estate Agent with Michael's Commercial LLC

Commercial Land Absorption Rates – Prince William County – August 2012

Commercial Land 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)
  • MIXED (Mixed Commercial Use)
  • 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 August 31, 2012:

 Land Absorption Rate 1

Land Absorption Rate 2

Land Absorption Rate 3

Land Absorption Rate 4

  • Total Number of Properties on Market. The properties available 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 report 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 land real estate market in Prince William County has been minimal. There are currently 31 properties on the market. There was a net increase of three properties than reported last month. Two properties have sold during this reporting period. There is one property currently Under Contract. We are presently in a Buyer’s market.

  • General Business District – Minimal activity – There was an increase of two properties during this reporting period since last month. Eighteen properties are currently in the inventory and one property is currently Under Contract.
  • Neighborhood Business District – Minimal activity – There were no new properties during this reporting period. One property is currently in the inventory.
  • Convenience Retail District – Minimal activity – No new properties during this reporting period. One property is currently in the inventory.
  • Office Low-Rise District – No activity – No 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 – Minimal activity – No new properties during this reporting period. Three properties are currently in the inventory.
  • Light Industrial District – Minimal activity – There was an increase of one property during this reporting period. Three properties are currently in the inventory.
  • Industrial/Transportation District – Minimal activity – No new properties during this reporting period. One property is currently in the inventory.
  • MIXED – Minimal activity – No new properties during this reporting period. Two properties are currently in the inventory.
  • Planned Business District – Minimal activity – No new properties during this reporting period. Two properties are 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 Commercial Land Absorption Report 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 Land Absorption Rates – Prince William County – August 2012 – August 31, 2012

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Rainmaker
973,908
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Michael, looks like the General Business District B-1 at least has some chance of selling something in the Prince William County Commercial Land Absorption Rates Market Report.

Sharon

Sep 18, 2012 07:54 PM #1
Rainmaker
892,763
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Frank & Sharon: It seems this is where the activity is right now. Thanks for stopping by.

Sep 18, 2012 08:06 PM #2
Ambassador
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Silvia Dukes PA, REALTOR
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Michael, as always you are providing a very thorough and detailed report.  Thanks for sharing.

Sep 27, 2012 11:13 AM #3
Rainmaker
892,763
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Silvia: You're very welcome and thank you for stopping by.

Sep 27, 2012 11:37 AM #4
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Rainmaker
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Michael Setunsky

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