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%|
|Avg Days on Market||49||41||19.51%|
|Avg Sold Price to List Price||97.0%||97.9%||-0.89%|