Hi! I’m Brad Chandler of Express Homebuyers and the Following is Your December 2011 Real Estate Statistics for Prince William County, Virginia

The average sales price of a home sold in December was $271,558, less than a 1% decrease from a year earlier. 435 homes were sold in Prince William County in December, that’s 12% less than last December. Those homes took on average 60 days to sell – a 25% increase from a year ago. Based on 374 homes being sold in November 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 November 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 almost 94% of what they list their home for. So if a seller listed their home for $100,000 they would, on average, end up selling it for $94,000. The number of homes for sale decreased 18% from a year ago to 1,132 while the number of homes that came on the market decreased 5.5% to 427 homes. The number of new contracts that buyers placed on homes for sale decreased less than 1% from a year ago. While most of the indicators have slipped from a year ago, I would still say a very healthy real estate market in exists in Prince William County, especially given the 3-month supply of houses. If you have any questions about this information or selling your Prince William County house fast, please contact us at the number above.

Hi! I’m Brad Chandler of Express Homebuyers and the Following is Your December 2011 Real Estate Statistics for Montgomery County, Maryland

The average sales price of a home sold in December was $426,499, a decrease of 7.5% from a year earlier. 713 homes were sold in Montgomery County in December, a 10.5% decline from last December. Those homes took on average 85 days to sell, an increase from 82 days, a year ago. Based on 673 homes being sold in November there is less than 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 November 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 about 4 months. Sellers are getting on average 92% of what they list their home for. So if the seller listed the home for $100,000 they would, on average, end up selling it for $92,000. The number of homes for sale decreased over 13% from a year ago to 2,474 homes while the number of homes that came on the market decreased 9.5% to 571 homes. The number of new contracts that buyers placed on homes for sale decreased 9% from a year ago. So things have slipped a little in Montgomery County from a year ago. While a 4-month supply of homes is very healthy, all of the other indicators have gotten worse. Not dramatically worse – just worse. If you have any questions about this information or selling your Montgomery County house fast please contact us at the number above.

Hi! I’m Brad Chandler of Express Homebuyers and the Following is your December 2011 Real Estate Statistics for Prince Georges County, Maryland

I know like I sound like a broken record… but – prices of homes in Prince Georges County have, once again, declined from the previous year – over 4% since last December, falling to $185,903. 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. 710 homes were sold in December – this is up 1% from the previous December. These homes remained on the market for 114 days – an increase of 28% and sellers are only getting 89% 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 about $89,000. In terms of supply, in November, 2011 there were 626 homes sold. When you divide this into the number of active listings, this signifies a 5-month supply of houses. This means that if buyers continued to buy at the same pace as they did in November 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 5 months. The number of homes for sale has decreased over 31.5% from a year ago to 3,368 while the number of homes that came on the market decreased 37% to 720 homes. These are significant drops from a year earlier. Speculation is that banks will begin to process more foreclosures, thus pushing up these new and active listings. The number of new contracts that buyers placed on homes for sale increased nearly 24% from a year ago from 797 to 987. 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.

Hi! I’m Brad Chandler of Express Homebuyers and the Following is your December 2011 Real Estate Statistics for Fairfax County, Virginia

The average sales price of a home sold in December was $465,410, a decrease of over 2% from a year earlier. 907 homes were sold in Fairfax County in December, that’s 15% less than last December. Those homes took on average 68 days to sell, an increase of nearly 8% from a year earlier, yet still a fairly fast sales time. Based on 841 homes being sold in November there is roughly a 3-month supply of homes in Fairfax County. This means that if buyers continued to buy at the same pace as they did in November 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 less than 3 months. This is a sign of a strong real estate market. Additionally, sellers are getting over 95% of what they list their home for. So if a seller listed their home for $100,000 they would, on average, end up selling it for $95,000. The number of homes for sale decreased 13% to 2,263. The number of homes that came on the market 746 is down over 1.5% from a year ago. The number of new contracts that buyers placed on homes for sale decreased roughly 3% from 872 to 847 in December. While buyer activity has slowed slightly and sales and inventory is down, overall most of the above factors indicate a very healthy real estate market in Fairfax County. If you have any questions about this information or selling your Fairfax County house fast please contact us at the number above.

Hi! I’m Brad Chandler of Express Homebuyers and the Following is your December 2011 Real Estate Statistics for the District of Columbia

The average sales price of a home sold in December was $536,764, a decrease of 2% from a year earlier. 495 homes were sold in the District in December, a 2.5% increase from last December. Those homes took on average 76 days to sell – this is a decrease of almost 4%. Based on 447 homes being sold in November there is a 3.7-month supply of homes. This means that if buyers continued to buy at the same pace as they did in November 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 less than 4 months. Sellers are getting on average 94% of what they list their home for. So if a seller listed their home for $100,000 they would, on average, end up selling it for $94,000. The District currently has 1,657 homes for sale. This number has decreased 27% from a year ago, while the number of homes that came on the market in December – 409 – decreased by 15%. The number of new contracts that buyers placed on homes for sale increased from 468 to 475 – virtually the same from a year ago. Other than active listings and new listings being significantly down, little has changed from a year ago. The supply of houses indicates a very healthy real estate market in DC. Speculation is that banks will begin to process more foreclosures, thus pushing up new and active listings. We will have to wait and see on that. If you have any questions about this information or selling your DC house fast please contact us at the number above.

Brad Chandler shares October 2011 Real Estate Statistics for Prince William County, Virginia

Representing a 1 percent increase from a year earlier, the average sales price of a home sold in October was $275,43. Almost 12 percent fewer home (394) were sold in Prince William County than in last October. Those homes took on average 54 days to sell. While it’s a 26 percent increase – it’s still a short sales time. Based on 410 homes being sold in September, 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 September 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. On average, sellers are getting almost 96 percent of what they list their home for, which means that if the seller listed their home for $100,000 they would, on average, end up selling it for $96,000. The number of homes for sale decreased 14 percent from a year ago to 1,409 while the number of homes that came on the market decreased 17 percent to 575 homes. Undoubtedly, this is because the foreclosure process temporarily came to a halt in late 2010. Supposedly, this will soon change and the banks resume processing foreclosures. Buyer activity has increased over the last year, as the number of new contracts that buyers placed on homes for sale increased by more than 15 percent. 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 has sent homebuyers shopping. All of the statistics indicate a very healthy real estate market in Prince William County. Have any questions about this information? Want to sell your Prince William County house fast? Please contact us at the number above.

The following is your October 2011 Real Estate Statistics for Montgomery County, Maryland

In Montgomery County, the average sales price of a home sold in October was $411,221, a decrease of 6.45 percent from a year earlier. 634 homes were sold in October, a 9.43 percent decline from last October. Disappointing news for sellers: Those homes took on average 85 days to sell, an increase from 68 days a year ago. Based on 673 homes being sold in September, there is almost a 5-month supply of homes in Montgomery County. In other words, if buyers continued to buy at the same pace as they did in September 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 5 months. Sellers are getting on average 92.6 percent of what they list their home for. A seller who listed the home for $100,000 would, on average, ended up selling it for $92,000. The number of homes that came on the market decreased almost 11 percent to 1,040 homes, as the number of homes for sale decreased 11 percent from a year ago to 3,263 homes. Quite possibly, this decrease resulted from the foreclosure process coming to a halt in late 2010. Reportedly, this will soon change and the banks will get back to processing foreclosures. The number of new contracts that buyers placed on homes for sale increased 6 percent from a year ago. This indicates a slight uptick in buyer activity and could be attributed to lower interest rates. Though things seem to have slipped a bit, most of the above factors indicate a fairly healthy real estate market in Montgomery County. If you are interested in selling your Montgomery County house fast or if you have any questions about this information, please contact us at the number above.

Express Homebuyers president Brad Chandler outlines the October 2011 Real Estate Statistics for Prince Georges County, Maryland

I know like I sound like a broken record…but prices of homes in Prince Georges County have once again declined from the previous year – almost 18 percent since last October, falling to $171,631. Over the past four years, Prince Georges County has experienced one of the steepest declines in home values in the area, with some areas seeing values drop by over 60 percent. Home sales in October (626 homes) were up almost 8 percent from the previous October. These homes remained on the market for 100 days – an increase of over 20 percent as sellers are only getting 89.6 percent of what they list their house for. This means that the seller will end up selling it for $89,000, after listing their home for $100,000. In terms of supply, in September, 2011 there were 634 homes sold. When you divide this into the number of active listings, this signifies a 6-month supply of houses. This means that the supply of houses for sale would run out in 6 months, assuming that buyers continued to buy at the same pace as they did in September each month going forward and there were no new homes placed on the market for sale. From a year ago, the number of homes for sale has decreased over 20 percent to 3,918 while the number of homes that came on the market decreased over 18 percent to 1,071 homes. Most likely, this is a result of the halt in foreclosure process in late 2010. If this changes, as expected, the banks will get back to processing foreclosures. 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 50 percent from a year ago from 752 to 1,128. 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. Please contact us at the number above if you have any questions about this information or obtaining a quick sale on your Prince Georges house.

Brad Chandler, owner of Express Homebuyers, offers your October 2011 Real Estate Statistics for Fairfax County, Virginia

October figures show the average sales price of a Fairfax county home was $455,863, virtually unchanged from a year earlier. Meanwhile, 14 percent fewer homes (815) were sold in Fairfax County from last October to this October. Those homes took on average 66 days to sell – still fairly fast, thought this is an increase of 10 percent from a year ago. As 963 homes were sold in September, there remains roughly a 3-month supply of homes in Fairfax County. If buyers continue to buy at the same pace as they did in September each month going forward, and no new homes were placed on the market for sale, our local supply of houses for sale would run out in 3 months. Currently, sellers are realizing over 95 percent of the listing price of their home. If, for example, the seller listed their home for $100,000, they would, on average, end up selling it for $95,000. In the past year, the number of homes for sale decreased 8 percent to 3,283, while the number of homes that came on the market 1,336 is down over 6 percent from a year ago. This is most likely a result of the foreclosure process coming to a halt in late 2010, though the word on the street is that the banks will resume processing foreclosures fairly soon. This October, the number of new contracts that buyers placed on homes for sale was virtually unchanged from 1,098 to 1,107, while the number of homes for sale has decreased. Overall, most of the above factors indicate a fairly healthy real estate market in Fairfax County. If you have any questions about this information or selling your Fairfax County house fast, please contact us at the number above.

Hi! I’m Brad Chandler of Express Homebuyers. Read a few October 2011 Real Estate Statistics for the District of Columbia

The average sales price of a home sold in October was $497,957, a decrease of 10 percent from a year earlier. Representing a 16 percent decrease from last October, 421 homes were sold in the District in October. The Days on Market (DOM), a measure of how long home are on the market before they sell, has increased to 73 days, an increase of 9 percent. With 510 homes being sold in September, a 4-month supply of homes for sale remains. This means that if there were no new homes placed on the market for sale, and if buyers continued to buy at the same pace as they did in September each month going forward, the supply of houses for sale would run out in 4 months. Sellers are getting on average 95 percent of what they list their home for. So, if the seller listed their home for $100,000 they would, on average, end up selling it for $95,000. Most likely as a result of the foreclosure process coming to a halt in late 2010, the number of homes for sale has decreased to 2,219, down 22 percent from a year ago, while the 802 number of homes that came on the market in October represent a 19 percent decrease. There is talk now that this will soon change and the banks will get back to processing foreclosures. As the new homes on the market have decreased, the number of new contracts that buyers placed on homes for sale have increased from 524 to 626 – that’s up over 19 percent from a year ago. This is most likely a result of sales prices being 10 percent lower and interest rates being at an all time low – buyers are out bargain shopping! If you have any questions about this information or selling your DC house fast, please contact us at the number above.

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.

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.

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.

Brad Chandler here from Express Homebuyers. I’ve highlighted September 2011 Real Estate Statistics for Fairfax County, Virginia.

Up 9% from a year earlier, the average sales price of a home sold in September was $498,526. While prices rose, the number sold dropped by nearly the same percentage; the 963 homes sold in Fairfax County in September represent 8.5 percent less than last September. Those homes were also on the market 18% longer, though the average 60 days they went unsold is considered fairly quick. Sellers on the average are getting 95 percent of what they listed the house for – about a $5,000 drop on a $100,000 house.

Will We Run Out of Houses?

In August, after 1,245 homes were sold, about a 3-month supply of homes remain available in Fairfax County. If buyers keep buying at this rate and no new ones were put up for sale, the supply of houses for sale would run out in 3 months. Additionally, sellers are getting over 95 percent of what they list their home for. So if the seller listed their home for $100,000 they would, on average, end up selling it for $95,000. The number of homes for sale decreased 8 percent to 3,515, while only 1,549 home came on the market – 10 percent fewer homes than a year ago.

Fewer Buyers This Year

For the first time in recent years, we have seen a decrease in buyer activity on a monthly basis year over year. Given that interest rates remain near an all time low, this is surprising. Though buyer activity has slowed, overall most of the above factors indicate a very healthy real estate market in Fairfax County. If you have any questions about this information or selling your Fairfax County house fast please contact us at the number above.

Hi! I’m Brad Chandler of Express Homebuyers and the Following is your September 2011 Real Estate Statistics for the District of Columbia.

In September, the average sales price of a home sold in the District of Columbia was $475,832, a decrease of 1 percent from a year earlier. Sellers are getting on average 95 percent of what they list their home for. So, if the seller listed their home for $100,000 they would, on average, end up selling it for $95,000. This shows some stability for seller.

Buying Trends

510 homes were sold in the District in September, a 2 percent increase from last September. Those homes took on average 77 days to sell – this is an increase of 13 percent. Based on 566 homes being sold in August there is a 4-month supply of homes. 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 District currently has 2,282 homes for sale. This number has decreased about 18 percent from a year ago, while the number of homes that came on the market in September – 957 – decreased by 17 percent.

An Unexpected Development

The number of new contracts that buyers placed on homes for sale decreased from 555 to 522 – that’s down 6 percent from a year ago. This is the first time in a long time where we have seen a decrease in buyer activity on a monthly basis year over year. This is concerning and puzzling for two reasons. One, as interest rates remain near an all time low, one would think there would be more buyer activity to take advantage of these low rates and two, prices in some areas of DC have dropped dramatically over the past 4 years – again – you’d think people would be snapping up the deals. Overall, the market is still fairly healthy, but things have slowed. Could be the time of year coupled with buyers’ perception of the economy. If you have any questions about this information or selling your DC house fast please contact us at the number above.

Brad Chandler of Express Homebuyers evaluates real estate statistics for Prince William County, Virginia from Aug. 2011.

Prince William County homeowners have cause for optimism when it comes to the real estate market. The average sales price of a home sold in August was $304,944. This is a 3 percent increase from a year earlier. However, only 498 homes sold in August, that’s 15 percent less than last August. Those homes took on average 53 days to sell. Don’t despair because while it’s a 23 percent increase—it’s only taking 10 more days and is still a very short sales time.

It was nice to see the housing supply fall to below three months. Based on 558 homes sold in July there is less than a 3-month supply of homes in Prince William County. Home supply tells you the number of months it would take for all of the current homes for sale on the market to sell at the current monthly sales volume. Between four and five is average. A higher number means there are more sellers than buyers.

Sellers are receiving almost 97 percent of what they list their home for. To put this in perspective, if a seller listed their home for $100,000 they would, sell it for $97,000.

Here are a few other numbers to keep an eye on to determine the market’s health in Prince William County. The number of homes for sale decreased 3.7 percent from a year ago to 1,548 while the number of homes that came on the market decreased 10 percent to 697 homes. The number of new contracts that buyers placed on homes for sale increased over 26 percent from a year ago which is great news. This indicates buyer activity surged. Though no one can say exactly what cause the surge, I can surmise it is a combination of lower interest rates—which are currently at an all time low—coupled with buyer perception that we are at the bottom of the pricing cycle and prices will likely increase. It is my opinion that these factors together indicate a 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 call Express Homebuyers.

Read the August 2011 real estate statistics for Montgomery County, Maryland as reported by Brad Chandler of Express Homebuyers.

At an average sales price of $494,944, there was a solid 5.5 percent increase in homes sold in Montgomery County, Maryland, as compared to the sales made in 2010, indicating a very stable real estate market in the county. This year however, there was a slight decrease of 6 percent from the sales of homes last year to the 847 being sold in August, taking an average of 69 days to complete the sale as opposed to the 66-day sale period the prior year.

In July, there were 907 houses sold. If this pace continues with no new homes to replace the ones being sold, housing units for sale would run out in 3.5 months. Sellers are coming relatively close to their asking price come closing, getting 94 percent of their asking price.

In Montgomery County, 3,247 homes sold this year in August, which is 12 percent fewer than last August. Additionally, the number of housing units that entered the sales market decreased to about 985 units; this is a 21 percent decrease from the previous year. A 4 percent increase of contracts made in home selling this year is another very positive factor.

Reviewing these August 2011 real estate statistics for Montgomery County in Maryland point to a healthy and stable real estate market. For more information about these numbers or to sell your Montgomery County home, contact Express Homebuyers. We are here to guide you all the way.

The owner of Express Homebuyers Brad Chandler, summarizes the real estate market each month for Prince William County. This month he reviews August 2011 and includes a few highlights.

Unfortunately, home prices in Prince Georges County declined again from last year. The decline is about 11 percent, falling to $179,654. 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.

It is not all bad news however. A total of 719 homes were sold in August, more than a 6 percent increase from the previous August. These homes remained on the market for 105 days – an increase of 22 percent and sellers are only getting 90 percent of what they list their house for. Essentially, this means that if the seller lists his or her home for $100,000 it will sell for $90,000.

In terms of supply, in July, 2011 there were 739 homes sold. When you divide this into the number of active listings, this signifies a 4.5-month supply of houses. So what exactly does “supply of houses” mean? Well, if buyers continued their trend and go on buying at the July pace going forward and no new homes entered the sales market, the supply of houses for sale would run out in 4.5 months.

The inventory of homes for sale decreased 12 percent August of last year to 3,247. The number of homes entering the market decreased over 21 percent to 985 homes. On a positive note, the number of new contracts buyers placed on homes increased 4 percent from a year ago. Overall, the good news here favors homebuyers looking in Prince Georges County. Sellers on the other hand should wait longer and expect less from the sale of their home.

To discuss any of these statistics in more detail, feel free to call Brad Chandler at Express Homebuyers. They can also help you sell your Prince Georges house quickly.

Brad Chandler is the owner of Express Homebuyers. Each month he tracks real estate statistics for Fairfax County, Virginia. These are some highlights from August, 2011. The average sales price of a Fairfax County home sold in August was $497,392. This is an increase of more than 2 percent from August a year ago. 1,245 homes were sold in Fairfax County in August. That is a slight downturn from a year ago of approximately 2 percent. The good news is that those homes took on average 52 days to sell. That’s extremely fast and in my opinion signifies a healthy market.

Another indicator of a healthy market is the supply factor. Based on 1,399 homes being sold in July there is a 2.75-month supply of homes in Fairfax County. What exactly does this mean for people trying to sell their house? Well, if buyers continued to buy at the same pace as in July 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 just shy of three months. In addition to that, sellers are getting over 96 percent of what they list their home for. Getting close to your listing price is a great indicator of market strength as well. For example, if a seller listed their home for $100,000 they would, on average, end up selling it for $96,000.

The number of Fairfax County homes for sale in August decreased almost 6 percent. The exact number is actually 3,456. The number of homes that came on the market was 1,552 and is down almost 4 percent from a year ago. Good news, right? This indicates buyer activity increased from a year ago. To put this into perspective, interest rates are at an all-time low, making it a good time to buy a house. Buyers likely believe we are at the bottom of the pricing cycle and may want to buy now rather than wait, and pay higher prices later. I think the statistics I’ve highlighted for homeowners in Fairfax County point toward a healthy real estate market in their county. Call Express Homebuyers if you want some advice about selling your Fairfax County home.

All of the above factors indicate a very healthy real estate market in Fairfax, VA If you have any questions about this information or selling your house fast please give us a call.

Each month Brad Chandler of Express Homebuyers tracks your real estate statistics for Prince William County, Virginia

If you follow the real estate market in Prince William County, you’ll note that this month the average sales price of a home sold was $296,362. This is great news because is an increase of 4.5 percent from this time last summer. 558 homes hung “sold” signs in Prince William County in July, 3 percent fewer than last July. It took those homes an average of 47 days to turn. That percentage is a 20.5 percent increase, but don’t worry because it’s only taking eight more days and is still a very short sales time.

Less Than 3-Month Supply of Homes

Based on 559 homes sold in June there is less than a 3-month supply in Prince William County. In other words, if buyers continue to buy at that same pace each month going forward and no new homes entered the market the supply of houses for sale would run out in less than 3 months. Listing price is holding relatively steady as well. Sellers are receiving on average almost 97 percent of their listing price. That means that a home listed for $100,000 would, on average, sell for $97,000.

Some Decreases and Increases to Note

The number of homes for sale decreased 2.5 percent from a year ago to 1,555 while the number of homes that came on the market decreased 12 percent to 778 homes. The number of new contracts that buyers placed on homes for sale increased almost 17 percent from a year ago meaning buyer activity surged. Why? Well, it is a possible 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.

I believe this month’s real estate statistics for Prince William County are very positive and indicate a healthy real estate market. If you want to discuss the real estate market in your county or are interested in a quick turnaround on selling your home, please give me a call. I’d love to hear from you.