Quail Ridge is a subdivision in Amissville in the northwest corner of Culpeper County. You'll find just about every style of home here, set on large lots of 2+ acres with plenty of mature trees. There are approximately 250 homes in this subdivision, making it one of the larger communities in the area, and certainly the largest in Amissville.
There are four properties for sale in this subdivision. Prices range from $409,000 to $469,000. Days on market ranges from 89 days to 331 days. As it happens, all four properties currently for sale are colonials. There are no properties currently under contract here.
Nine properties have sold here in the last year. Which means there's currently a roughly six month's supply of inventory. That's lower than the area average of approximately 12 months.
Of the nine properties that sold, the lowest priced property sold for $374,000 and the highest priced property sold for $503,000. These are net prices after any seller concessions to help with buyer closing costs. Looking at prices in the abstract is actually less useful in this subdivision since there's so much variety in the homes here. Among those nine were a split foyer, a very small rambler and a very large three level colonial. What I would be willing to bet on is that we don't see another sale for anything over $500K in 2007.
Nothing has sold in this subdivision since December of 2006. That may mean that there's actually more than a six month's supply of inventory. That's especially true since the traditionally more active spring market has so far largely failed to materialize.
There were 9 homes over the last year that were either withdrawn from the market or whose listings expired. Three of them are currently for sale again. One of them sold eventually. And four of the sellers appear to have given up for the time being.
While the details change with each subdivision the overall message in the market stays the same. It's a tough market for sellers and only the seriously motivated have a chance at selling. It remains a great opportunity for buyers!
Comments(0)