Stafford County, VA Market Report – 4/16/12

16 Apr
April 16, 2012

The sun is out, the birds are chirping and we are all enjoying a beautiful spring so far!  The local real estate market is hopping!

Buyers are out enjoying historically low interest rates and Sellers are seeing quicker sales.  Our area is starting to see Corporate Relocation pick up, while still experiencing short sales and foreclosures.

Here are the latest statistics:

STAFFORD MARKET STATS

MARCH
2012 2011 +/-
New Listings 281 238 18.07%
Closed Sales 107 143 -25.17%
New Pending Sales 217 220 -1.36%
Median Sales Price 245,000 210,000 16.67%
Avg SP to OLP Ratio 94.4% 92.5% 2.07%
Days on Market until sale 67 74 -9.46%
Detached Units Sold 87 107 -18.69%
Attached Units Sold 20 36 -44.44%
Sold Dollar Volume 26,812,886 34,039,505 -21.23%
Avg. Sold Price 250,588 238,038 5.27%
Avg. List Price for Solds 254,770 243,123 4.79%
Ratio of Avg SP to Avg OLP 94.3% 92.9% 1.49%
Attchd Avg Sold Price 179,859 165,356 8.77%
Detached Avg Sold Price 266,847 262,493 1.66%
Active Listings 491 545 -9.91%
New Under Contracts 93 91 2.20%
New Contingents 124 129 -3.88%
Total Pendings 395 427 -7.49%

 

There are two statistics that stand out the most:

1.  New listings are up 18.07% which is amazing as listings are down in the Fredericksburg area as a whole.

2.  Stafford’s median sales price is up 16.67%.  For those of you out there who are waiting to see if prices are still going down, please review the trends over the last 9 months especially.  Prices are not coming down in our area!

Days on market decreased -9.46%.  Houses that are priced right, show well and are in good locations are selling quickly!  Stafford’s average sold price increased 5.27% and the average sales price to list price ratio went up 2.07%.

What does all this mean?  This means that this is the best spring that we have seen in several years!  If you are looking to buy or sell, now just might be the best time for you to do it!  Happy Spring!

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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