WINTERGREEN RESORT, VIRGINIA in the Autumn!
It's a perfect time to buy a vacation home in Wintergreen, Virginia- The East coast's Premier Year round Resort in the Blue Ridge Mountains. Wintergreen is a beautiful place no matter the season. So, with Fall almost here and the skiing season fast approaching I pondered the home sales market. I had a quick look at the Sales & Inventory History Stats of detached home sales here 2004 through August 2007. There is no doubt that 2005 was a stellar year for sales with a total 91 detached homes selling that year (ave 7.5 per month), compared to 75 in 2004 (ave 6.25 per month), and 58 in 2005 (ave 4.8 per month). Interestingly, 2005 compares well to last year (2004) with an average of 4 sales per month to date. The inventory has however, soared since 2004 going from an average of 19 available homes per month (2004) to 63 available homes per month this year (2007) to date. With all these homes available and sales somewhat down in general from 2004 and 2005, it was great to see that prices were staying solid. Since 2005 the % difference between the List Price and the Sales Price stayed at 95.5%. So, for buyers there is a wonderful choice of homes available - the best ever - but don't expect to pay significantly below the asking price because that is not happening here. It's good for us Realtors to know that although the DOM has increased overall (63, 61, 88, and 80 days on average, respectively), and subsequently it may seem to us that homes are "not selling" they actually are and prices are staying put. It seems all we need is just a little more patience in this current market. So let your buyers know its a WONDERFUL time for them to look around all the great homes here and buy that vacation home at last! Expect to pay an average of $20,000 under asking price but no more (for a $500,000 home). Waiting to buy, it appears, is not necessary! Do come and visit!
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