Archive for the ‘Sell a Home’ Category
The average sales price of a home sold in November was $465,527, an increase of almost 2% from a year earlier. 841 homes were sold in Fairfax County in November, that’s 13% less than last November. Those homes took on average 61 days to sell. This is the same number of days from a year ago and 61 days is still fairly healthy. Based on 815 homes being sold in October 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 October 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. Any monthly supply number under 5 usually indicates a Sellers Market. Additionally, sellers are getting over 95% 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 11% to 2,747. The number of homes that came on the market 1,017 is down over 3.5% from a year ago. The number of new contracts that buyers placed on homes for sale decreased for the second straight month -this month by nearly 5% from a year ago. This is concerning and puzzling. 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. While 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 call us at the number above.
| Fairfax County, VA |
November-2011
|
November-2010
|
% Change
|
| Avg Sold Price |
$465,527
|
$456,966
|
1.87%
|
| Median Sold Price |
$390,000
|
$375,000
|
4.00%
|
| Units Sold |
841
|
968
|
-13.12%
|
| Avg Days on Market |
61
|
61
|
0.00%
|
| Avg Sold Price to List Price |
95.6%
|
95.5%
|
0.09%
|
| Active Listings |
2,747
|
3,082
|
-10.87%
|
| New Listings |
1,017
|
1,054
|
-3.51%
|
| New Pendings |
1,041
|
1,092
|
-4.67%
|
Posted in Sell a Home |
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The average sales price of a home sold in November was $514,274, a decrease of 7% from a year earlier. 447 homes were sold in the District in November, a 9.5% decrease from last November. Those homes took on average 73 days to sell – this is an increase of nearly 16%. Based on 421 homes being sold in October there is a 5 month supply of homes. This means that if buyers continued to buy at the same pace as they did in October 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. A 5-6 month supply is considered healthy for supply. Because supply isn’t as low as it once was, sellers are getting on average 94% 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 $94,000. The District currently has 2,007 homes for sale. This number has decreased almost 24% from a year ago, while the number of homes that came on the market in November – 587 – decreased by over 14%. The number of new contracts that buyers placed on homes for sale increased from 497 to 565 – that’s up over 13% from a year ago. This is an indication that buyer activity has increased significantly from a year ago. This could be a combination of extremely low interest rates coupled with average sales prices declining and buyer’s perception that we are at the bottom of the pricing cycle and prices will likely increase. This is what we have been seeing for most of the year, with October being the exception – new contracts were actually down in October. If you have any questions about this information or selling your DC house fast please call us at the number above.
| Washington DC |
November-2011
|
November-2010
|
% Change
|
| Avg Sold Price |
$514,274
|
$553,459
|
-7.08%
|
| Median Sold Price |
$395,000
|
$419,500
|
-5.84% |
| Units Sold |
447
|
494
|
-9.51%
|
| Avg Days on Market |
73
|
63
|
15.87%
|
| Avg Sold Price to List Price |
94.1%
|
93.7%
|
0.43%
|
| Active Listings |
2,007
|
2,631
|
-23.72%
|
| New Listings |
587
|
686
|
-14.43%
|
| New Pendings |
565
|
497
|
13.68%
|
Posted in Sell a Home |
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Prince William County, Va. is an attractive area of Virginia that actively encourages diversity in its residents, with plenty of homeowner resources available. A good Realtor®, as well as the Builders’ Realty Council (BRC) can educate you on the market and on homes available there. As the BRC points out, larger homes at lower price tags are often available in Prince William County (PWC) vs. Fairfax or Loudon Counties. If the prospect of getting more for your money doesn’t lead you to do some serious looking in PWC, there are also several incentive programs in place to encourage homebuyers settle there.
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Posted in Sell a Home |
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