The Following is Your September 2011 Real Estate Statistics for Prince William County, Virginia from Brad Chandler of Express Homebuyers.
The 410 homes sold in Prince William County this September were 20 percent fewer than last year, but two other market measures were promising. The average sales price of a home sold in September was $281,244, a 1.5 percent increase from a year earlier. Those homes took on average 49 days to sell, the best in the area. While it’s nearly a 20 percent increase since last year, it’s only taking 8 more days – a very short sales time.
Housing Supply Dwindling
If buyers continued to buy at the same pace as they did in August each month going forward and there were no new homes placed on the market for sale, the 498 houses for sale in Prince William County would run out in 3 months. Happy sellers are getting on average almost 97 percent of what they list their home for, so the would only have to drop 3 percent ($3,000) on a $100,000 house. The number of homes for sale decreased 7 percent from a year ago to 1,536, as the number of homes that came on the market decreased 13 percent to 624 homes.
Good Times in Princes William County Real Estate
Buyers placed 13 percent more contracts on homes for sale as compared to last year – an indication that buyer activity has surged. This could be due to a combination of lower interest rates – which are currently at an all time low – coupled with buyer’s 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 Prince William County house fast, please contact us at the number above.
| Prince William County, VA |
September 2011 |
September 2010 |
% Change |
| Avg Sold Price |
$281,244 |
$276,990 |
1.54% |
| Median Sold Price |
$254,500 |
$241,000 |
5.60% |
| Units Sold |
410 |
512 |
-19.92% |
| Avg Days on Market |
49 |
41 |
19.51% |
| Avg Sold Price to List Price |
97.0% |
97.9% |
-0.89% |
| Active Listings |
1,536 |
1,649 |
-6.85% |
| New Listings |
624 |
715 |
-12.73% |
| New Pendings |
534 |
474 |
12.66% |
Posted in Real Estate Statistics |
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Homeowners following the monthly Real Estate Statistics for Montgomery County, Maryland can see Brad Chandler’s summary of the Sept. 2011 figures.
In Montgomery County, in September, the average sales price of a home sold in September ($436,709) was up 2.5 percent from a year earlier, but the 673 homes sold represent a 16% decline from last September. Selling after 72 days on the market lat year, those homes took on average 77 days to sell this year. Sellers can expect to average 94% of what they list their home for. On a $100,000 home they would end up selling it for about $94,000.
Falling Housing Inventory
Based on 847 homes being sold in August, there is just over 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 August 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. The number of homes for sale decreased 12 percent from a year ago to 3,471 homes, while the number of homes that came on the market decreased almost 9% to 1,301 homes.
New Contracts Up
The number of new contracts that buyers placed on homes for sale increased over 5% from a year ago. This slight uptick in buyer activity could be attributed to low interest rates. Most 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 Montgomery County house fast please contact us at the number above.
| Montgomery County, MD |
September 2011 |
September 2010 |
% Change |
| Avg Sold Price |
$436,709 |
$426,118 |
2.49% |
| Median Sold Price |
$338,000 |
$326,000 |
3.68% |
| Units Sold |
673 |
802 |
-16.08% |
| Avg Days on Market |
77 |
72 |
6.94% |
| Avg Sold Price to List Price |
93.9% |
93.9% |
-0.04% |
| Active Listings |
3,471 |
3,958 |
-12.30% |
| New Listings |
1,301 |
1,425 |
-8.70% |
| New Pendings |
823 |
781 |
5.38% |
Posted in Real Estate Statistics |
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In case you are track the Real Estate Statistics for Prince Georges County, Maryland each month, here is Brad Chandler’s snapshot summary of Sept. 2011.
Here is some cause for pause. The prices of homes in Prince Georges County have, once again, declined from the previous year – almost 11 percent since last September, falling to $177,909. Prince Georges County has experienced one of the steepest declines in home values, in the area, over the past four years, with some areas seeing values nearly cut in half. These homes remained on the market for 108 days – an increase of nearly 19 percent and sellers are only getting 87.3 percent 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 $87,000.
Six Months Worth of Homes Available
634 homes were sold in September – this is essentially unchanged from the previous September. In terms of supply, in August, 2011 there were 719 homes sold. When you divide this into the number of active listings, this signifies a 6-month supply of houses. If no new homes are placed on the market for sale and buyers continued to buy at the same pace as they did in August each month going forward, then the supply of houses for sale would run out in 6 months.
More Buyers in the Prince Georges Market
The number of homes for sale has decreased 16 percent from a year ago to 4,167 while the number of homes that came on the market decreased over 24 percent to 1,047 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 from 48 percent from a year ago from 717 to 1,059. This is an indication that buyer activity has increased significantly from a year ago. This 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. Even with this surge in activity, if you are a buyer in Prince Georges County you will find the market is in your favor. Sellers will need to wait longer and expect less from the sale of their home. If you have any questions about this information or selling your Prince Georges house fast please contact us at the number above.
| Prince Georges County, MD |
September 2011 |
September 2010 |
% Change |
| Avg Sold Price |
$177,909 |
$199,628 |
-10.88% |
| Median Sold Price |
$160,000 |
$180,000 |
-11.11% |
| Units Sold |
634 |
637 |
-0.47% |
| Avg Days on Market |
108 |
91 |
18.68% |
| Avg Sold Price to List Price |
87.3% |
90.7% |
-3.65% |
| Active Listings |
4,167 |
4,958 |
-15.95% |
| New Listings |
1,047 |
1,380 |
-24.13% |
| New Pendings |
1,059 |
717 |
47.70% |
Posted in Real Estate Statistics |
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