November local housing stats are in
December 11, 2009 by Jim Evans
Home sales in Northern Virginia have remained on pretty much a flat line the past few months. With inventory dwindling and prices returning, the spring market should bring much more robust activity. From November 2008 – November 2009, in Prince William County the average sold price increased $30,000 or 14.4%. Fairfax County had no measurable change. Of course, prices are 56% less in Prince William as a result of soaring foreclosures the past few years. This current trend of price improvements should help be aided by the tax credits that are due to expire in April 2010. Affordabilty is at an all time high. That is, if you can find a home that does not have multiple offers immediately after being listed.
Graphs are courtesy of MRIS.
Showing posts with label Homes. Show all posts
Showing posts with label Homes. Show all posts
Friday, December 11, 2009
November local housing stats are in
Tuesday, March 3, 2009
Prince William is on FIRE
Fire Sale that is! Bargains to be had throughout the County. Check this out!
While the prices continue to tumble in Prince William County, there are some very encouraging signs. Twice as many closings occurred in January 2009 as the previous year. New listings are down, contracts are up. Way up! 79% increase in number of homes sold in 2008 vs 2007.
If Days on the market continues to decline, we should see a reduction in the falling prices. Since mid 2005, we have witnessed the struggling housing market in Prince William. It has been longer and more painful than many other parts of the area and country. The foreclosure rates climbed hugely in 2007 and 2008. Is there an end in site? As long as savy buyers continue to buy up the bargain inventory, there should be. We'll keep watching and reporting. If you want speak personally about your opportunities please call our Prudential office at 703-497-7788.
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