February 2011 Real Estate Statistics for Prince William County, Virginia
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|Prince William County, VA||Feb-2011||Feb-2010||% Change|
|Avg Sold Price||$260,830||$254,886||2.33%|
|Median Sold Price||$228,925||$227,000||0.85%|
|Avg Days on Market||59||42||40.48%|
|Avg Sold Price to List Price||96.9%||100.2%||-3.32%|
While it is taking longer to sell a home in Prince William County, the average and median sales price increased slightly in February, 2011 as compared to February, 2010. In February 2007, the median and average sales prices were $416,703 and $380,000 respectively. This represents a 37% decline in average sales price and a 40% decline in median sales price. These drastic value declines have most likely never been seen before in the United States. Fortunately for people who seek to sell their house fast in Prince William County, the real estate market seems to be stabilizing. While the number of houses sold declined a significant amount and sellers in general are getting a lower sold price, percentage wise, compared to their original list price, they are still getting nearly 97% of list price – another sign of a healthy market. In terms of supply, in January, 2011 there were 343 homes sold. When you divide this into the number of active listings, which have increased about 7% from last year, it signifies a 3.76 month supply of houses. This amount of supply is much better than a typical healthy market defined by a 5-6 month supply. Active listings were up roughly 7% while new listings declined about 7% from a year ago. Contracts on listed homes (new pendings) are up significantly from a year ago – signifying that buyers are becoming very active.
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