The median home price in Prince William county has risen $100,000 from the market bottom of first quarter 2009.
The relatively low Inventory of homes for sale and good interest rates have been the catalysts in the 5 year rise. However, December inventories are higher than normal and may signal a slowdown in price rise and speed of sale.
Draw your own conclusions from the graph below which shows the 5 year history of # of homes for sale by month.
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Below is the 10 year median price trend for Prince William which mirrors that of all NOVA counties.
The market bottomed in early 2009 and has been recovering a significant amount of the equity loss from the freakish never before seen price highs of 2005.
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The number of days that it takes to get a winning contract is hovering around 41 days through June 2016.
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As always, the strong economy of our area has cushioned us from the worst.
Well priced homes under $300k in good locations and in good condition have been getting contracts quickly.
Upper end properties ...above $600k, have slowed since July 1 throughout Northern VA but that is a seasonal norm as folks leave town for vacations before school starts up in Septemeber.
If you need information on new homes or any other area of real estate, drop us a line.
We will do our best to get you what you need.
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Moving to Northern Virginia? Not familiar with the area?
We are more than traffic and a great job market.
Below is a link to a photo tour of typical home styles and our countryside
yside: http://video214.com/play/ngb0RJKin5pR3jr2CUotnw/s/dark
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