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Unchanged from a year ago, the average sale price of a home sold in May was $280,000. 519 homes sold in Prince William County in May, that’s 25 percent less than last May. Those homes took an average 56 days to sell. While it’s a huge percentage increase ¾more than 75 percent ¾ it’s still a very short sales time.

Based on 472 homes being sold in April there is a 3-month supply of homes in Prince William County. This means that if buyers continued to buy at the same pace as they did in April each month going forward, no new homes entered the market for sale, the supply of sale houses would run out in 3 months.

Sellers are getting on average 96 percent of what their listing price. If the seller listed the home for $100,000 they would likely sell it for $96,000. The number of homes for sale increased almost 8 percent from the same from a year ago while the number of homes that came on the market increased by a little over 4 percent.

In a dramatic change, new contracts that buyers placed on homes for sale increased 31 percent from a year ago. This shows a surge in buyer activity. Lower interest rates coupled with buyer perception that we are at the bottom of the pricing cycle will likely help prices rise. Ignore the national real estate news that things are bad everywhere ¾real estate is local. While nationally, prices have fallen 7 percent since mid-2010, they remain unchanged in Prince William County. We have a healthy real estate market in Prince William County. If you have any questions about this information or selling your house fast please contact us at the number above.

If you are having trouble selling your house, call us today at 1-877-907-3232 or contact us to get an offer in hours from Express Homebuyers.

The average sales price of a home sold in May was $467,000, an increase of almost 11 percent from a year earlier. 884 homes were sold in Montgomery County in May, that’s over 22 percent less than last May. Those homes took on average 69 days to sell, a fairly healthy number. While it’s a big percentage increase ¾over 35% ¾ it’s only a little more than two more weeks.

Speaking of healthy, based on 884 homes sold in April, there is a 4-month supply of homes in Montgomery County. How does this “supply” term work? Quite simply, if buyers continued to buy at the same pace as they did in April each month going forward, and there were no new homes placed on the market for sale, the supply of houses for sale would run out in 4 months.

Sellers are getting on average over 94 percent of their listing price. In real numbers, if a seller listed the home for $100,000, they would sell it for $94,000.

The number of homes for sale remains about the same from a year ago while the number of homes that came on the market increased by roughly 8 percent. The most dramatic percentage change in the numbers was new contracts that buyers placed on homes for sale ¾ they increased over 35 percent from a year ago. This indicatesa surge in buyer activity. It may be a combination of lower interest rates coupled with buyers perception that we are at the bottom of the pricing cycle and prices will likely increase. National real estate news repots things are bad everywhere ¾ don’t fret since real estate is local. While nationally, prices have fallen 7 percent since mid-2010, it’s the opposite in Montgomery County.

All these factors indicate a very healthy real estate market in Montgomery County. If you have any questions about this information or selling your house fast please contact us at the number above.

If you are having trouble selling your house, call us today at 1-877-907-3232 or contact us to get an offer in hours from Express Homebuyers.

Prices of homes in Prince Georges County declined from the previous year¾ almost 18 percent since last May.Prince Georges County experienced one of the steepest area declines in home valuesover the past four years. In May 2007, the average sales price was $333,000. This represents a 48 percent decline. These drastic value declines have most likely never been seen before in the United States.

There is some good news! 738 homes sold in May, a14 percent increase from the previous May. These homes remained on the market for 104 days ¾ an increase of over 15 percent¾and sellers are only getting 88% of what they list their house for. This means that if the seller lists his or her home for $100,000 they will end up selling it for $88,000.

In terms of supply, in April, 2011 there were 702 homes sold. When you divide this into the number of active listings, this signifies an almost 7-month supply of houses. In theory, if buyers buy at the same pace as they did in April each month going forward, and no new homes got placed on the market for sale, the supply of houses for sale would run out in 7 months.

The number of homes for sale is about the same as a year ago while the number of homes that came on the market decreased slightly.

The number of new contracts that buyers placed on homes for sale increased 37 percent from a year ago. This indicates a surge in buyer activity. It could be a combination of lower interest rates coupled with buyer’s perception that we are at the bottom of the pricing cycle and prices will likely increase. Additionally, lots of this activity is from investors who are now getting good cash flow returns from rental properties. When values drop nearly 50 percent and rents stay stable or increase, you can imagine how return on investment would skyrocket.

If you have any questions about this information or selling your house fast please contact us at the number above.

If you are having trouble selling your house, call us today at 1-877-907-3232 or contact us to get an offer in hours from Express Homebuyers.