Today, let's take a look at the latest market results from Stafford County, Virginia:
259 New Listings
159 Closed Sales
214 Pending Sales
$240,500 Average Sale Price
70 Average DOM (Days on Market)
Generally, market activity in the Washington, DC suburbs greatly influences the Stafford County housing market. This is true now, as increased buyer activity has depleted inventory in Northern Virginia—resulting in a pick-up in Stafford, Fredericksburg and Spotsylvania.
Current figures further reflect this relationship, as inventory in Stafford County has seen a reduction of over 50% from last year, and an almost 30% rise in pending sales. Also, the average number of days that a house
Here is a quick snapshot of the market wrap-up for Warren County/Front Royal:
This market follows closely to the Prince William and Manassas City market, however average prices are less.
115 New Listings
$181,250 Avg sale price
174 Days on Market
Little has changed between July 2008 and July 2009. Overall, 2008 to 2009 inventory has dropped 16% and there has been a 30% increase in sales The year to date average sale price is $153,000. There are 440 single family homes, town homes and condos on the market as of end of July data.
Unless a large influx of inventory floods the market, this area may have seen the bottom of prices. Unemployment has seemed to peak and things are
Here is a quick snapshot of the market wrap-up for Prince William County:
963 New Listings
710 Sales closed
$213,000 Average sale price
59 DOM (Average Days on Market)
New listings have decreased almost 34% from last year at this time. Pending sales have increased 3.5%, Days on market have decreased 30% and inventory has decreased by 75%.
Total inventory on the market including town homes, condos and single family homes are 1370, whereas 2008 that number was almost 5000 units!
Inventory has been decreasing due to the moratorium on foreclosures and the increased efforts to work out loans for current owners. Pending sales are up due to the fact that short sales are taking a lot of