Posts Tagged ‘Stafford County’
Stafford County, VA Market Report – 4/16/12
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
Stafford County, VA Market Report – 2/13/12
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
Stafford County, VA Market Report – 11/14/11
New listings in our market place have just dropped to a year low! They have dropped 19.09% since this same time last year. What does this mean?
This means that we need more good inventory on the market! Houses that are priced right, show well and are in good locations are selling!
For example, our office just listed a beautiful home for $269,900 (which was on the higher end of an acceptable list price for the property) and it went under contract in 48 hours! The average sales price to original list price percentage has actually increased by 1.78% to 95.3%, which is most likely due to the lack of inventory. Remember, it has a lot to do with supply and demand!
With interest rates as low as they are, Buyers are out there! With the lack of inventory, Buyers are having to act quicker and make better offers to secure the home of their dreams! If inventory stays as low as it is and more Buyers continue to enter the market place, you will begin to see prices stop dropping, begin to even out, and eventually with the same scenario, begin to increase!
Here are other statistics for the month of October:
STAFFORD MARKET STATS
| OCTOBER | |||
| 2011 | 2010 | +/- | |
| New Listings | 178 | 220 | -19.09% |
| Closed Sales | 123 | 114 | 7.89% |
| New Pending Sales | 159 | 130 | 22.31% |
| Median Sales Price | 246,000 | 263,550 | -6.66% |
| Avg SP to OLP Ratio | 95.3% | 93.1% | 2.31% |
| Days on Market until sale | 63 | 70 | -10.00% |
| Detached Units Sold | 98 | 91 | 7.69% |
| Attached Units Sold | 25 | 23 | 8.70% |
| Sold Dollar Volume | 30,844,379 | 30,742,888 | 0.33% |
| Avg. Sold Price | 250,767 | 269,674 | -7.01% |
| Avg. List Price for Solds | 255,140 | 271,563 | -6.05% |
| Ratio of Avg SP to Avg OLP | 95.3% | 93.7% | 1.78% |
| Attchd Avg Sold Price | 151,375 | 157,965 | -4.17% |
| Detached Avg Sold Price | 276,122 | 297,909 | -7.31% |
| Active Listings | 497 | 685 | -27.45% |
| New Under Contracts | 75 | 82 | -8.54% |
| New Contingents | 84 | 48 | 75.00% |
| Total Pendings | 319 | 333 | -4.20% |
Closed sales were up, new pending sales were way up, detached and attached units sold increased and days on market decreased by 10%! These are all important and exciting statistics!
And please don’t let the holidays fool you! Our market is BUSY and interesting things are happening around here! If you are considering selling, it is time to get off the fence and consult a professional to give you advice on your individual situation! If you are a Buyer, take advantage of these historically low interest rates and get on out there. Now is a great time to start looking for a new place to call home!
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Stafford County: www.averyhess.com
Stafford County, VA Market Report – 9/14/11
Things are very interesting in Stafford right now. The latest statistics are very indicative of what we as Realtors were feeling in Stafford last month.
It is very interesting to me that we are seeing these statistics as rates have been hovering around historic lows and there are lots of Buyers in the market place. It seems as though many people are waiting for exactly the right house to come on the market and just haven’t been able to find what they are looking for.
Our inventories are so low, not just in Stafford, but in the surrounding areas as well that there are not a lot of new houses for people to look at, at any given time.
I think the last couple of weeks have been tough for people who have been considering putting their homes on the market! No one really wants to do that during an earthquake, hurricane or even the first week or two of school if they can help it! Please read on for the latest stats:
| AUGUST | |||
| 2011 | 2010 | +/- | |
| New Listings | 177 | 216 | -18.06% |
| Closed Sales | 120 | 163 | -26.38% |
| New Pending Sales | 156 | 157 | -0.64% |
| Median Sales Price | 225,000 | 249,625 | -9.86% |
| Avg SP to OLP Ratio | 95.3% | 94.5% | 0.81% |
| Days on Market until sale | 66 | 61 | 8.20% |
| Detached Units Sold | 99 | 144 | -31.25% |
| Attached Units Sold | 21 | 19 | 10.53% |
| Sold Dollar Volume | 31,408,566 | 44,146,520 | -28.85% |
| Avg. Sold Price | 261,738 | 270,838 | -3.36% |
| Avg. List Price for Solds | 265,859 | 277,336 | -4.14% |
| Ratio of Avg SP to Avg OLP | 95.5% | 94.0% | 1.63% |
| Attchd Avg Sold Price | 143,986 | 143,389 | 0.42% |
| Detached Avg Sold Price | 286,716 | 287,654 | -0.33% |
| Active Listings | 564 | 664 | -15.06% |
| New Under Contracts | 59 | 109 | -45.87% |
| New Contingents | 97 | 48 | 102.08% |
| Total Pendings | 341 | 385 | -10.73% |
One of the only positives you can take away from the latest numbers are the average sales price to list price ratio. Over the last year this number has continued to slowly creep up. That is a great sign for Sellers who price their home well!
Don’t let these numbers discourage you! We are still way better off than many parts of the country and our market is feeling much better overall! New inventory will really help our market. If you are considering selling your home, make sure and speak to a good, professional Realtor. You may be surprised that now is a good time for you to sell!
Stafford County, VA Market Report – 7/11/11
This time last year, first time homebuyers were frantically trying to make sure they could close on their home of choice by June 30th so that they could make sure and receive their first time homebuyer tax credit!
Houses were selling left and right, prices were escalating in some instances and the market was extremely busy!
Flash forward to now and in Stafford County you are seeing houses that are priced right to sell! You are seeing buyers having to make decisions so they don’t lose out on the home that they love! You are seeing low rates and foreclosures dwindling, but short sales are continuing to be a large part of the market.
The statistics between last year and this year are hard to decipher due to that tax credit. But considering there was the incentive last year, our numbers are quite good!
|
MAY |
|||
| 2011 | 2010 | +/- | |
| New Listings | 234 | 246 | -4.88% |
| Closed Sales | 151 | 147 | 2.72% |
| New Pending Sales | 230 | 160 | 43.75% |
| Median Sales Price | 239,375 | 245,000 | -2.30% |
| Avg SP to OLP Ratio | 92.9% | 95.1% | -2.27% |
| Days on Market until sale | 77 | 62 | 24.19% |
| Detached Units Sold | 124 | 124 | 0.00% |
| Attached Units Sold | 27 | 23 | 17.39% |
| Sold Dollar Volume | 38,563,946 | 38,444,314 | 0.31% |
| Avg. Sold Price | 255,390 | 261,526 | -2.35% |
| Avg. List Price for Solds | 263,002 | 266,117 | -1.17% |
| Ratio of Avg SP to Avg OLP | 92.6% | 94.9% | -2.38% |
| Attchd Avg Sold Price | 151,067 | 164,083 | -7.93% |
| Detached Avg Sold Price | 278,106 | 279,600 | -0.53% |
| Active Listings | 573 | 635 | -9.76% |
| New Under Contracts | 94 | 101 | -6.93% |
| New Contingents | 136 | 59 | 130.51% |
| Total Pendings | 481 | 512 | -6.05% |
Closed sales were up in May and new pending sales were up enormously! That is huge considering what we discussed above.
Unfortunately, average sold prices were down slightly as well as median sales price. While that was the case, total sold dollar volume was still up.
What does this mean for you? This means that if you are a seller looking to put your home on the market, go for it! New listings are down and the market needs more good homes! If you are a buyer, take advantage of the low prices and amazing interest rates! Our market is busy and this is a great time to enter the market place!
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Stafford County: www.averyhess.com
Stafford County, VA Market Report – 4/27/11
Our spring market in the Fredericksburg region has been much hotter than our weather! Buyers are out taking advantage of great interest rates and housing prices. Sellers are able to take advantage of low housing inventories and somewhat stable prices. We experienced a very busy start to our year that has been very steady up until the beginning of April. We had a little lull the first part of this month, most likely due to the worry of the government shutting down, but we are now starting to pick back up again!
Stafford County has some pretty interesting statistics going on. The last quarter of 2010 we ended with an overall slight median sales price increase. So far March of 2011 compared to March 2010 the median sales price has decreased -7.8% to a price of $212,000. New listings are down -29.2% which is a huge decrease.
There really is no rhyme or reason to these numbers considering the amount of sales occurring. Closed sales are up 14.7% from this time last year and pending sales are up 12.2%! That is good news and shows that what we are feeling is in fact happening. Please read on for more statistics:
STAFFORD MARKET STATS
| MARCH | YEAR TO DATE | |||||
| 2010 | 2011 | +/- | 2010 | 2011 | +/- | |
| New Listings | 346 | 245 | -29.2% | 741 | 652 | -12.0% |
| Closed Sales | 129 | 148 | +14.7% | 320 | 358 | +11.9% |
| Pending Sales | 196 | 220 | +12.2% | 438 | 560 | +27.9% |
| Median Sales Price | 229,945 | 212,000 | -7.8% | 230,000 | 203,300 | -11.6% |
| % of Orig. List Price
Received |
94.7% | 92.7% | -2.1% | 94.8% | 91.8% | -3.1% |
| Days on Market until sale | 77 | 76 | -1.2% | 70 | 78 | +11.3% |
| Inventory-Single Family
Detached |
590 | 526 | -10.8% | - | - | - |
| Inventory- Townhouse-Condo | 98 | 95 | -3.1% | - | - | - |
No matter what these numbers say, Stafford is located in a fantastic area between Washington D.C. and Richmond. We always have a stronger market than other parts of the country due to our proximity to the nation’s capital. This area has so much to offer that people will continue to want to make Stafford County their home for many years to come!
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Stafford County: www.averyhess.com
