Spring time is here! The market in Spotsylvania is very active right now with low priced listings selling super fast, median sales price slightly up over last year at this time, and inventory quickly shrinking!
While it appears we have a good amount of listings that came on in March, we are down 29.9% compared to last year for single family homes and down 52.2% for town homes/condos. We are down 4.8% in new listings for the year. In the low price ranges, this means stiff competition for first time home buyers seeking to find that new home in a good location and in good condition. Multiple offers are typical and prices are escalating to win those homes! In higher price ranges, activity is good, days on market have decreased and percent of sales price received at time of offer has increased!
Here are our latest stats for Spotsylvania County:
|Spotsylvania County||Mar-09||Mar-10||% Change|
|Median Sales Price||$183,746||$187,550||2.10%|
|% of Orig Price||88%||94.40%||7.20%|
|Avg. Days on Market||117||75||-36%|
|Single family Inv.||853||598||-29.90%|
Remember, there are only 9 days left to write a contract and be eligible for the first time homebuyers’ tax credit and the move-up tax credit! There is still time to find that great house! It is also a great time to list your home (especially if it is a regular sale) as there are many Buyers out there who are looking for that very thing! Happy Spring!
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Spotsylvania County: www.averyhess.com