Market Report Culpeper November 2007

Real Estate Agent with ReMax New Horizons

Hello and happy holidays.  I don't know about you but I can't remember being so glad to see a year end.  I have high hopes for 2008 and I anticipate an improved mood swing this year.  That being said, we are not out of the woods yet.  Foreclosures have hit Culpeper county harder than Orange and Madison.  There are homes selling for much less now than 18-24 months ago.  Here are the number:

There were 127 new listings in Culpeper in November 07

There were 40 homes that went under contract in November 07

There were 38 homes that sold in November 07, 38 also in Nov 06

The average days on the market is 176, as opposed to just 114 in Nov 06.

There are 796 homes for sale as of November 30, 2007.  That is an extremely high number.  Selling 38 a month isn't going to reduce that number very quickly.  I'm curious to see December's numbers, I should have them soon and will get them out to you.

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