Spotsylvania County Market Report – 12/12/11

12 Dec
December 12, 2011

Tis the season to be jolly!  This won’t be the jolliest market report but I can assure you that November’s statistics will be far better than October’s were.

For some reason October was a very slow month.  New listings were very minimal, new pending sales were up but closed sales and pretty much every other stat were down.  The phone wasn’t ringing as much and both Buyers and Sellers seemed to be sitting on the fence.

November was almost completely opposite where there were new listings, many more new sales and the market really started looking better!  That momentum has carried into December and will hopefully continue into the New Year!  So with that being said, take these numbers with a grain of salt. They are what they are and the next couple reports will look much better!

OCTOBER
2011 2010 +/-
New Listings 175 202 -13.37%
Closed Sales 126 131 -3.82%
New Pending Sales 183 120 52.50%
Median Sales Price 178,000 184,000 -3.26%
Avg SP to OLP Ratio 92.8% 93.6% -0.80%
Days on Market until sale 82 67 22.39%
Detached Units Sold 111 117 -5.13%
Attached Units Sold 15 14 7.14%
Sold Dollar Volume 26,248,384 28,906,981 -9.20%
Avg. Sold Price 208,321 220,664 -5.59%
Avg. List Price for Solds 215,505 226,536 -4.87%
Ratio of Avg SP to Avg OLP 91.7% 92.6% -1.04%
Attchd Avg Sold Price 127,422 119,886 6.29%
Detached Avg Sold Price 219,253 232,723 -5.79%
Active Listings 614 788 -22.08%
New Under Contracts 83 74 12.16%
New Contingents 100 46 117.39%
Total Pendings 359 333 7.81%

 

New listings are such an integral part of our market.  We really need those great, new listings to go on the market so all of the Buyers out there have something to buy!  When you see listings down like this it causes some Buyers just to wait and sit on the fence until just the right house comes on the market.  In many instances, they have already seen everything out there in their price range and haven’t found just the right one.  Some of the inventory becomes stale and those listings end up selling for less as they have been on the market for much longer.

Watch for the next couple of market reports!  Months like October just happen sometimes for no rhyme or reason. The good news is, despite the holidays, we are in the midst of a very busy end of the year and that is a good thing for both Buyers and Sellers!  Happy Holidays!

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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