It is amazing how much market activity can vary inside one county! Interestingly enough, inventory and days on market climbed slightly this week. Prices have been bouncing around the plateau we have reached and in only one part of the county have we seen a continued downward trend until now.
To show you the difference in median list prices (by zip-code), look at what occurred this week:
22553 – $315,495 (I bet that was much higher than most of you expected!)
22551 – $239,900
22408 – $237,100
22407 – $225,000
32% of properties throughout the county showed a price decrease. Days on market is on average 144 days.
Our market’s supply and demand is still leaning heavily towards a Buyers’ market. The market slowed considerably in May but started to even out again in June. We have been pretty consistent ever since. Overall, prices and inventory levels are relatively unchanged in recent weeks. I expect things to stay pretty consistent here in the upcoming summer weeks.
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Spotsylvania County: www.averyhess.com