Unchanged from a year ago, the average sale price of a home sold in May was $280,000. 519 homes sold in Prince William County in May, that’s 25 percent less than last May. Those homes took an average 56 days to sell. While it’s a huge percentage increase ¾more than 75 percent ¾ it’s still a very short sales time.
Based on 472 homes being sold in April 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 April each month going forward, no new homes entered the market for sale, the supply of sale houses would run out in 3 months.
Sellers are getting on average 96 percent of what their listing price. If the seller listed the home for $100,000 they would likely sell it for $96,000. The number of homes for sale increased almost 8 percent from the same from a year ago while the number of homes that came on the market increased by a little over 4 percent.
In a dramatic change, new contracts that buyers placed on homes for sale increased 31 percent from a year ago. This shows a surge in buyer activity. Lower interest rates coupled with buyer perception that we are at the bottom of the pricing cycle will likely help prices rise. Ignore the national real estate news that things are bad everywhere ¾real estate is local. While nationally, prices have fallen 7 percent since mid-2010, they remain unchanged in Prince William County. We have a 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.
|Prince William County, VA||May-2011||May-2010||% Change|
|Avg Sold Price||$280,367||$279,973||0.14%|
|Median Sold Price||$245,000||$245,000||0.00%|
|Avg Days on Market||56||32||75.00%|
|Avg Sold Price to List Price||96.6%||97.6%||-1.04%|
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.