Stafford County, VA Market Report – 2/13/12

13 Feb
February 13, 2012

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!

 

DECEMBER
2011 2010 +/-
New Listings 129 137 -5.84%
Closed Sales 121 122 -0.82%
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%
Active Listings 459 615 -25.37%
New Under Contracts 43 91 -52.75%
New Contingents 67 55 21.82%
Total Pendings 264 305 -13.44%

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

 

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