Stafford County, VA Market Report – 5/27/10

27 May
May 27, 2010

Things are changing here in Stafford County!  I have some pretty promising information to share with you!  The real estate statistics in April were great compared to this same time last year!  Once everyone recovered from the blizzard, people had a lot of making up to do in March and April!  Since the deadline for qualifying for the tax credit was April 30th, many people made the most of the opporuntity and it showed in our market activity.

2009 2010 Change
New Listings 263 323 +22.8%
Closed Sales 141 153 +8.5%
Pending Sales 207 269 +30.0%
Median Sale Price $220,000 $236.250 +7.4%
% of Original Sale Price Received 92% 96.1% + 4.5%
Average DOM 112 69 -38.5%
Single Family Inventory 670 560 -16.4%
Townhouse Inventory 134 54 -59.7%

As you can see, inventory is continuing to decline.  Once the inventory starts to shrink, days on market go down, percent of original sales price received at sale increases and the market becomes more competitive.  This is definitely the environment we are in now.  The market slowed down just a tad bit at the beginning of May, but we do feel like we are starting to see a momentum shift back in the right direction!  We hope this trend continues and look forward to a nice, active summer market!

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

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

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