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The average sales price of a home sold in June was $302,000, about a 3% increase from a year earlier. 559 homes were sold in Prince William County in June, that’s over 28% less than last June. Those homes took on average 49 days to sell. While it’s a huge percentage increase – over 48% – it’s still a very short sales time. Speaking of healthy, based on 519 homes being sold in May 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 May 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 3 months. Sellers are getting on average over 96% of what they list their home for. So if the seller listed the home for $100,000 they would, on average, ending up selling it for $96,000. The number of homes for sale increased 3% from a year ago to 1,476 while the number of homes that came on the market was virtually unchanged – 830 homes. The most dramatic percentage change in the numbers I track was the number of new contracts that buyers placed on homes for sale – they increased over 28% from a year ago. This is an indication that buyer activity has surged. This could 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. All of the above factors indicate a very 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 June was $489,432, an increase of almost 5% from a year earlier. 1,042 homes were sold in Montgomery County in June, that’s over 21% less than last June. Those homes took on average 62 days to sell. While that’s almost a 13% increase – it’s only one more week and is still fairly healthy. Speaking of healthy, based on 884 homes being sold in May there is a 4 month supply of homes in Montgomery County. This means that if buyers continued to buy at the same pace as they did in May 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 95% of what they list their home for. So if the seller listed the home for $100,000 they would, on average, ending up selling it for $95,000. The number of homes for sale decreased almost 5% from a year ago to 3,554 homes while the number of homes that came on the market decreased by about the same % to 1,430 homes. The most dramatic percentage change in the numbers I track was the number of new contracts that buyers placed on homes for sale – they increased almost 23% from a year ago. This is an indication that buyer activity has surged. This could 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. All of the above 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.