Caroline County, VA Year-End Market Report – 2/1/10

01 Feb
February 1, 2010

Caroline County had some very significant changes between the year 2008 and 2009.  I know last year was a very difficult year in Caroline for many homeowners, as one of the biggest obstacles to buying and selling was receiving an appraisal that supported a contract’s sales price.  At the beginning of last year, homes took a long time to sell and the process appeared daunting.  On the other hand, Caroline County reported steady job creation in 2009 and hopefully that will continue into this year.

The following year-in-review statistics prove that 2010 should start writing its story on a new page.

Caroline County Dec-08 Dec-09 Change
New listings 42 45 7.1%
Active listings 264 264 0.0%
Closed sales 22 32 45.5%
Median sales price $184,900 $160,000 -13.5%
Average days on market 152 71 -53.3%
Percentage of original
price received
87.2% 95.6% 9.6%

In Caroline County, closed sales increased 45.5% and the average days on market decreased 53.3%,  which is great news.  Homes that are priced right, in good condition, and in a good location are starting to sell much quicker.  The percentage of original sales price increased 9.6%, meaning sellers are receiving much better offers.

You must be under contract by April 30, 2010 and close by June 30, 2010 to receive the Federal Tax Credits for first-time homebuyers and move-up buyers.  The phone is ringing again and houses are being shown left and right.  2010 is off to a great start.

Market data and commentary by Amy Cherry Taylor, Business Manager and Realtor at Avery-Hess, Realtors.

Search for homes in Caroline, and the all of the DC Metro: www.averyhess.com

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