Warren County/Front Royal Market Report – 5/4/11

04 May
May 4, 2011

The housing recovery doesn’t appear to have taken hold just yet in Warren County.  For sellers, this means that prices are declining and houses are staying on the market longer. But in contrast, the good news for buyers is that interest rates are still favorable and houses are very affordable.

The numbers below indicate a decline from the previous year as well as the previous month this year.

March 2011 March 2010 February 2011
Total Sales Volume $3,730,800 $5,238,568 $4,218,244
Units Sold 36 39 29
Average Sales Price $128,520 $186,361 $145,457
Days on Market 176 138 124
Active Listings 435 422 404
Pending Contracts 86 97 74

 

While the current market seems to be declining, the number of units sold and the number of pending contracts have improved from the previous month.

Some people are recognizing the opportunity that this market condition allows for savvy buyers to find the right home. Now is still a wonderful time to find the home that is just right for you.

Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.

Search for Homes in Warren County, and all the DC Metro: www.averyhess.com

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