By Irene Morales Ward
8/10/2007
Austin Ridge has had a very bumpy market for the last 12+ months. Prior to the spring of 2006, homes were relatively hard to come by in this popular neighborhood in North Stafford. On the rare occassions homes were available, they were quickly scooped up - and often at or above list price.
With a brand new elementary school, many amenities, including a community center, swimming pool, swim team, tennis courts, sidewalks, walking trails, and an active homeowners association. and within minutes of Quantico, shopping and 95, this community has always been a first choice for military, government and corporate relocations.
We all realize now that the days of a seller's market and an assured quick sale are officially over. But statistically speaking, how do we calculate the shift in the market since the start of 2007? Here you will find a link to all homes marketed in Austin Ridge since 1/1/2007.
If you analyze these figures carefully, you will note that only 13 homes have sold since January 1, 2007. That amount is exactly half of the number of sales for the same time period in 2006. Of the 13 homes that sold, ALL without exception either sold below list price and/or with seller concessions as high as 3%.
It's clear to see we all need to adjust our thinking to accept the saturated market we are facing but with extensive online advertising, proper staging, exceptional virtual tour photography, and a realistic expectation of the market, anyone selling in Austin Ridge can still have an advantage over most other communities in North Stafford.
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