It seems a little odd blogging about December statistics in February but these are the latest stats that are out!
The good news is that I can really tell a big difference between the market two months ago and now. The market was decent in Stafford for a December but it is busy and even more active in the present day. Interest rates are still hovering at a historic low causing more and more Buyers to get pre-approved for a loan and start looking for a home.
Inventory is still at a 3 year low and the market is still desperate for more regular sales. Short sales and foreclosures are still entering the market place and are at a pretty steady place.
Now that we are caught up on the present market, take a look at the stats below to see how we ended 2011!
|New Pending Sales||110||146||-24.66%|
|Median Sales Price||250,000||242,450||3.11%|
|Avg SP to OLP Ratio||94.8%||94.3%||0.59%|
|Days on Market until sale||82||74||10.81%|
|Detached Units Sold||92||91||1.10%|
|Attached Units Sold||29||31||-6.45%|
|Sold Dollar Volume||31,974,049||30,516,995||4.77%|
|Avg. Sold Price||264,248||250,139||5.64%|
|Avg. List Price for Solds||269,122||254,255||5.85%|
|Ratio of Avg SP to Avg OLP||95.0%||93.5%||1.57%|
|Attchd Avg Sold Price||176,721||168,798||4.70%|
|Detached Avg Sold Price||291,839||277,850||5.03%|
|New Under Contracts||43||91||-52.75%|
The most promising statistics are the median sales price, which went up 3.11% year over year and is now resting at $250,000, and the ratio of average sales price to average list price ratio, up to 95% from 93.5%. Listings were still way down and so were new pending contracts. I think you will see a big change in that particular category in the next couple of blog updates.
Overall, 2012 is off to a very busy start! Whether you are thinking of buying a new home or selling your existing home it may be a great time for you to move forward!
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Stafford County: www.averyhess.com