Market Update

By Beth Paisley

Real Estate Agent with Long and Foster Webber and Associates,480 W Jubal Early Dr #100, Winchester, VA 22601

May 01, 2008 11:36 PM

Report Date	Spring 2008

Nearest Metro Area

Buyers' or Sellers' Market	More sellers than buyers

Average Time on Market	More than 120 days

Market Trend	Increasing

Housing Inventory	Good supply - all prices

Average Home Prices	$275,000

Compared to last year	Down 15-20%

Prices As % of Asking Price	85-90%

Multiple Offers?	Yes

Greatest Activity	First Time Buyers

Housing Hot Spots	Foreclosures are the hot spot. We are getting multiple offers and they are selling within days of going on the market.

Reason to Buy/Sell	Job Growth

Other Comments	Our market is much more active than the public thinks. They listen to all of the down play from the media. They do not realize that the worst areas are not here. Our job growth is wonderful so we do still have an active market.

Comments(0)