Earlier in the week I was asked to attend a meeting at the Fredericksburg Area Association of Realtors® conference room. Was told that a group was meeting to discuss a blogsite for the Association. Apparently, there were some that thought that my presence on Active Rain indicated a propensity for blogging. Naturally, the blog would focus on homes for sale in the Fredericksburg VA area.
If the truth were known they would realize that my blogging is inversely proportional to the amount of real estate business I have. Oddly enough, I am quite busy now but do not want to let "my public" down. Therefore, this blog.
At the meeting some were explaining how "good" the market was. Plenty of listing appointments and plenty of listings! Personally, I have less than what I consider a manageable (spell check is not working!) number of listings. I do not consider this a "good" market at all.
The "Real Estate Trend Indicator" for the period 04/01/08 - 04/30/08 published by the Metropolitan Regional Information Systems, Inc. gives me reason to believe that the market has yet to improve to any great degree.
There were 3735 Active Listings at the end of the month and there were 310 homes sold during the month.
The median sold price between 2007 and 2008 was down 14.6%.
The total units sold during April 2007 was 343 and last month (as shown above) 310 homes sold.
The Average Sale price as a percentage of Average List price was 94.41% in 2007 while in 2008 it was 89.16%.
The figures I give are for the City of Fredericksburg VA, Stafford, King George, Spotsylvania, and Caroline Counties, VA.
Oh, wait! If you are working with buyers this is the time for you to get moving! There are lots of bargains out there if you can find them.
Maybe it is a "good" real estate market.
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The market is not the same here but certainly it is not where it was last year. In your opinion, when do you think it will turn around in your area?