Stafford County, VA Market Report – 9/14/11

14 Sep
September 14, 2011

Things are very interesting in Stafford right now.  The latest statistics are very indicative of what we as Realtors were feeling in Stafford last month.

It is very interesting to me that we are seeing these statistics as rates have been hovering around historic lows and there are lots of Buyers in the market place.  It seems as though many people are waiting for exactly the right house to come on the market and just haven’t been able to find what they are looking for.

Our inventories are so low, not just in Stafford, but in the surrounding areas as well that there are not a lot of new houses for people to look at, at any given time.

I think the last couple of weeks have been tough for people who have been considering putting their homes on the market!  No one really wants to do that during an earthquake, hurricane or even the first week or two of school if they can help it!   Please read on for the latest stats:

AUGUST
2011 2010 +/-
New Listings 177 216 -18.06%
Closed Sales 120 163 -26.38%
New Pending Sales 156 157 -0.64%
Median Sales Price 225,000 249,625 -9.86%
Avg SP to OLP Ratio 95.3% 94.5% 0.81%
Days on Market until sale 66 61 8.20%
Detached Units Sold 99 144 -31.25%
Attached Units Sold 21 19 10.53%
Sold Dollar Volume 31,408,566 44,146,520 -28.85%
Avg. Sold Price 261,738 270,838 -3.36%
Avg. List Price for Solds 265,859 277,336 -4.14%
Ratio of Avg SP to Avg OLP 95.5% 94.0% 1.63%
Attchd Avg Sold Price 143,986 143,389 0.42%
Detached Avg Sold Price 286,716 287,654 -0.33%
Active Listings 564 664 -15.06%
New Under Contracts 59 109 -45.87%
New Contingents 97 48 102.08%
Total Pendings 341 385 -10.73%

One of the only positives you can take away from the latest numbers are the average sales price to list price ratio.  Over the last year this number has continued to slowly creep up.  That is a great sign for Sellers who price their home well!

Don’t let these numbers discourage you!  We are still way better off than many parts of the country and our market is feeling much better overall!  New inventory will really help our market.  If you are considering selling your home, make sure and speak to a good, professional Realtor.  You may be surprised that now is a good time for you to sell!

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