SUMMARY
The current inventory level for South Riding was reduced by 6 to 42 active listings, this is a 12% decrease. With 2 new listings , and 10 homes which went under contract making another active week in South Riding especially in homes receiving contracts this is 21 in the past 2 weeks . The 10 homes receiving a contracts last week did so with an average 59 days on the market. Additionally, the 4 homes which went to record last week had an Average DOMP of 35 which is about 4 days more than our current absorption rate and had an average net sales price of 97.8%. Looking at the latest days on the market for homes which received contracts last week, it looks as if buyers out there are making quick decisions on the well priced properties whether it is a short sale, bank owned, or regular sale. If you are in the market to buy or sell your home in South Riding contact me I will be happy assist you.
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