When you live near a metropolis, any talk of the arts has you thinking about the city. It’s where the best museums, galleries, stages and
The real estate market in Eastern Prince William County continues to be leaning towards a “Seller’s Market”. If you compare home sales in Lake Ridge
As you can see by the statistics below, buyers are really getting squeezed on finding something to buy. We have a classic supply and demand situation. After years of excessive inventory and weak demand causing falling prices, now we have the reverse.
There are fewer houses to buy, so homes are selling faster, and prices are getting pushed up. And this causes buyers lose their ability to negotiate and make demands. Buyers begin to accept small deficiencies in the property that they would not have when there was more to choose from.
Sellers in Prince William County enjoyed a great May 2012. Not only is the average sale price of a detached single-family home up 2.51% from May 2011 to $346,495, but the average days on market also dropped by a whopping 25%
“The best thing about the future is that it comes one day at a time.” – Abraham Lincoln. Like the future, Prince William County’s real estate market is rebuilding one day at a time. All economic signs are pointing towards stable real estate conditions, allowing for both buyers and sellers to benefit.
Prince William County homes sales are an interesting story to tell right now. If you ask sellers they will tell you that there is more activity on their listings than in previous months.
This activity has helped pending sales rise 15.63%. In contrast, less sellers entered the market, pushing inventories down 17.39%. If this trend continues, we could start to see a shift in the real estate landscape in Prince William.
People talk about the national market like it’s some static thing, like a toaster. The thing is, there is no national housing market. Just like there is no national weather forecast.
Market activity can vary from one property type or price range to the next.
For the 12-month period spanning July 2010 through July 2011, Pending Sales in Prince William County were down 20.49% from the same period a year prior.
Prince William is still growing and has become one of the richest counties in the United States. Currently, with adjacent Fairfax County mostly developed, the eye is on Prince William to provide new business space.
Bristow’s prices bottomed out around December 2008, moved up steadily during 2009 and have started to stabilize in the first four months of 2010. At under $350,000 and selling in about a month, houses in Bristow continue to offer good value for buyers which is why the number of transactions have been so stable. Bristow remains an affordable and in-demand place to live. With interest rates remaining in the high 4% to low 5% range, affordability is very high. Thus Bristow has a robust real estate market.