Gainesville VA Real Estate Homes are Selling Fast

In today’s real estate market, homes in the general Gainesville and Bristow area of Prince William County are selling fast! If you live here already, you may have noticed fewer signs throughout your neighborhood. If you have been actively seeking a home here, then you are well aware of our lack of inventory. So what’s happening in real estate in the Gainesville area? A couple of things are at work here. 1. Fewer foreclosure properties are coming on the market in Gainesville. With the stimulus funds and programs, many troubled homeowners are able to do a work out arrangement with the bank to keep their homes. 2. Short Sale listings are selling. The banks are approving a greater number of short sales taking them off the market, and not turning into a foreclosure. 3. Prices have stopped falling in the Gainesville area in certain price ranges and offer prices are actually rising! Owners who have been in their homes more than 4 years are primarily able to sell with going short. Traditional Sales Return to the real estate market! 4. Buyers are finally aware that the now is the time to buy! Low interest rates, $8k tax credit, prices nice and low. Pan out of the Gainesville, VA area and let’s take a look at the Greater Northern Virginia stats. This breakdown shows price ranges of homes, how many are currently available, or show active in the MRIS system, those that are under contract (UC), and an absorption rate (how long the inventory will be on the market)Incredible! (for more planations, details, or narrow to your price e-mail kmancini@weichert.com Now let’s go back to the real estate market in Gainesville, VA! Look at the chart below. Inventory is down, under contract is up, and sales are up! By the way the amount of days it takes homes to go under contract has gone way down! Supply and Demand! For more information on the current real estate market statistics here in Gainesville, VA to buy or list a home, or to receive a confidential analysis on your personal situation, call 703-980-6453 email kmancini@weichert.com or visit my web site at www.kathymancini.com