Stafford County, VA Market Report – 2/28/11

28 Feb
February 28, 2011

Stafford County is off to a very interesting start this year!  Our market started to pick up in November 2010 and has been getting stronger with each month that passes!  Houses that are priced well, are in good condition and in good locations are really seeing a lot of showings and are going under contract much quicker than they were this time last year.

With that being said, the following statistics are a bit interesting. They really don’t reflect what we are “feeling” and “seeing”. However, next month’s statistics should show what we are now buzzing about!

JANUARY
2010 2011 Change
New Listings 189 198 4.76%
Closed Sales 93 84 -9.68%
Pending Sales 107 176 64.49%
Median Sales Price 227,000 214,975 -5.30%
% of Orig. List price rec’vd @ sales 93.5% 93.1% -0.39%
Avg. Days on Mrkt until sale 71 72 1.41%
Detached Units Sold. 73 65 -10.96%
Attached Units Sold 20 19 -5.00%

January 2011 numbers compared to January 2010 numbers are surprisingly down!  Sold dollar volume, average sold price, median sold price, units sold, average list price for solds, average sold price to list price ratio, and average sold prices for both detached and attached homes are all down.  Days on market actually increased slightly by 1.41% which is crazy!

With that being said, active listings are slightly up (we still have a shortage of inventory though!), new under contracts are up by 30.30%, new contingents are up 119.51%!!! and new pendings are up 64.49%!  These are some pretty big numbers and show that a very strong spring market is upon us!

If this activity keeps up, 2011 should be a very good year in real estate!

Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.

Search for Home in Spotsylvania County: www.averyhess.com

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