Market Report For Woodbridge Virginia.

When preparing to sell a home it is very important to know how long it will take to get your home sold.  This can be very useful information in several different scenarios.  The first is if you are building a new home and it will be ready to close and move into on a exact date.  Most builders will not give you this date until a month or two before settlement. 

This date will also be important if you are relocating and need to be at your new job at a specific time.  Most people need to be able to sell their current home before they can close on the next. This time frame is an average of course and you should make plans in case it sell sooner or latter then the average home.  The price on a home will also allow the home to sell faster or slower but you should consult a knowledgeable Realtor.

These are the days on the market for homes in the month of December 1st to January 16th in Woodbridge Virginia.

The average home took 126days to sell in Woodbridge and the current homes under contract are a little more at 130 days.  The current 2375 Active listings have been on the market for an average of 147 days.  This tells us the average home is taking longer to sell since the active listings have a higher number of days on the market.

These numbers should give anyone selling a residential property an idea of what time it may take to get their property Sold.  Some other statistics for Woodbridge are:

December 1st 2007-January 16th

Average Sold Price: $324,107

Average Price of Homes Under Contract: $284,850

Number of Homes Sold: 202

Active REO's: 502 (that is not a typo)

Active Short Sales: 458

With the large number of short sales and REO's, 40% of active listings, this will cause a further drag on the prices in Woodbridge and cause a continued down trend.  This can very from neighborhood to neighborhood please contact me for neighborhood specific information.  If you need to decide if a short sale is right for you refere to my article HERE or contact me.

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