Stafford County, VA Market Report – 9/5/12

05 Sep
September 5, 2012

Summer is getting ready to officially come to an end in Stafford County.  We just celebrated Labor Day and all of our local children have headed back to school!

The Stafford real estate market has been nice and busy this summer!  The region as a whole has been very steady with inventory low, sales prices increasing and days on market decreasing.  In July, new listings in Stafford County were only down year over year by -1.48%.  Don’t let that number fool you though!  Active listings in Stafford are down by -20.41%.  Across the region we are at a five year low for inventory.

With the election coming up in the next three months, now is a great time to list your house and beat all of the media negativity that sometimes effects consumer confidence.  Houses that are priced right, show well and are in good locations are selling quickly!  Days on market decreased by -5.26% to a county average of 54 days!  What a huge difference from a couple of years ago!  Please read on for more stats:

JUL

2012

2011

+/-

New Listings

200

203

-1.48%

Closed Sales (Units Sold)

157

157

0

New Pending Sales

188

174

8.05%

Median Sold Price

$279,900

$245,000

14.24%

Avg SP to OLP Ratio

97.2%

95.0%

2.37%

Avg. days on market

54

57

-5.26%

Detached Units Sold

132

119

10.92%

Attached Units Sold

25

38

-34.21%

Sold Dollar Volume

$45,190,633

$40,645,564

11.18%

Avg. Sold Price

$287,838

$258,889

11.18%

Avg. List Price for Solds

$292,800

$265,171

10.42%

Ratio of Avg SP to Avg OLP

96.9%

93.8%

3.26%

Attchd Avg Sold Price

$164,574

$155,297

5.97%

Detached Avg Sold Price

$311,184

$291,969

6.58%

Active Listings

464

583

-20.41%

New Under Contracts

76

67

13.43%

New Contingents

112

107

4.67%

Total Pendings

381

359

6.13%

There are a couple more important numbers we should discuss.  New pending sales have increased 8.05% despite the decrease in listings!  Interest rates are so low now that Buyers are still taking advantage of this historic time to buy, which does create competition in some price ranges.

The median sold price increased 14.24% and the average sold price to original list price ratio increased 2.37% to 97.2%!  That is a great number for Sellers to see and a number to make Buyers realize they need to make good offers to secure the home of their dreams.

It is nice to finally have a good market with opportunities for both Buyers and Sellers.  Make sure you consult your local Realtor to find out what these statistics can mean for you!

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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