Middleburg Market Report | February 2012

Middleburg Market Report | February 2012

Your Middleburg Market Report, brought to you by Frank and Sharon Alters

Middleburg Median Sales Price is down .7% from February 2011, but if you look at the Chart at the bottom of the page, you can clearly see that the bottom of the market in Middleburg was about June 2010, and prices began the bumpy climb out of the trough ever since then.

Even though many statistics are down when comparing February 2011 to February 2012, a couple of very important statistics have dropped, and those are the New Listings, which have dropped 30.7% in the last year, and the Months Supply of Inventory, which now stands at 6.8%, compared to 9.3% in February 2011.

What does this mean to the Middleburg Seller and Buyer? It means that the market is turning, and that we are approaching a balanced real estate market for the first time in years. Indications this Spring show that demand is back, and I suspect the March reports may have a different story to tell with some of the statistics.