Prince William County Virginia Real Estate Market Report February 2013

By
Real Estate Agent with RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax
https://activerain.com/droplet/QYv

 

fairfax and loudoun county realtors

Prince William County home prices are rising. Inventory is at a 5 yearlow.

Good news for home sellers.

 The low unemployment rate, about half the national average, combined with record low interest rates have kept the price recovery coming along.



Don't forget, the national real estate situation has almost no bearing on the good news from Prince William; See for yourself... Prince William's major statistics through the month of January 2013 are graphed a couple inches below.

 

 

 

 

 

Loudoun, Fairfax and Prince William County realtors   In order to smooth out seasonal aberrations and monthly anomalies, we generally use longer term statistics...covering 3-5 years.

The larger data set also helps uncover any underlying market trends of strength or weakness.

Below is the 5 year median price trend for Prince William which mirrors that of all NOVA counties.

The market bottomed in early 2009 and has been recovering a significant amount of the equity loss from the freakish never before seen price highs of 2005.

Hover your cursor over any point on the graphs to get a monthly read...they are interactive.

 

 


 

 

The number of days that it takes to get a winning contract is hovering around 56 a much better number than the 118 days in February 2008. As the weather warms, these numbers should decrease as you can see historically below:


Virginia Landscape Photographer, Digital Artist and Realtor Steve Bachman

The existing inventory of re-sale homes is at a five year low on the chart below.  801 homes were for sale on average during the month of January 2013 compared to the 5176 for sale during February 2008 the 5 year high point....an 84% decrease in supply.

Basically less than one sixth the number of homes are now on the market  compared to February 2008. That is why prices are going up.

A small 2.17 months supply of housing was available in January...(369 sold vs 801 available)....combine that with steady demand and fewer foreclosed properties for sale and good news for Home sellers results. 

 

 

 

 

 

Virginia Landscape Photographer, Digital Artist and Realtor Steve Bachman


 

Thanks for stopping by our blog and come back often.

If you need information on new homes or any other area of real estate, drop us a line. We will do our best to get you what you need.

 

 

 

 

 

 

 

 by Steve Bachman

 

 

 

 

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Why pay more and get less when selling your home? Jan and Steve Bachman of RE/MAX Gateway use professional photographers, create interactive photo floor plans, print full color brochures, and make an individual property website for your listing that goes out to 40+ public real estate search sites including Realtor.com, Trulia, Zillow etc.

 

We also create a custom photo tour that is sent to other agents and prospective buyers.

 

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RE/MAX Hall of Fame, Platinum Club, A Washingtonian Magazine Top Agent 2018

Happy to Help. No Hassle, No Pressure.

Jan and Steve Bachman are full time Realtors® with RE/MAX, specializing in Homes for Sale in Fairfax, Loudoun, Prince William and Arlington Counties.

 

 

       

Search for Northern Virginia Homes Like an Agent  Just play around. No hassle, no spam, we won’t bother you. Fresh listings emailed to you. Want more info. Drop us a line.       

 

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Rainmaker
1,842,349
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Steve, always enjoy viewing stats and charts on other communities.  Thanks for sharing with us.

Feb 21, 2013 01:17 AM #1
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Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Steve,

I've said the phrase, "all real estate is local," countless times, and yet some people still think that national reports on real estate are important.

Rich

Feb 21, 2013 02:30 AM #2
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Real estate is local--pure and simple. I can't think of a better Prince William County Virginia real estate agent to use. You know your local market well and perform your job using the best technology in the business. Sellers would be fortunate to have you as their advocate.

Feb 21, 2013 03:20 AM #3
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2,074,804
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

We have the same problem here..........rising prices and extremely low inventory!!!

Feb 21, 2013 05:04 AM #4
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634,034
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

This is good news, Steve.  Some areas are starting to have a real problem with lower inventory.  Love the RR photo.

Feb 21, 2013 01:29 PM #5
Rainmaker
760,427
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

Thanks Ron. I appreciate your stopping in.

Hey Rich, you do a great job in your posts of keeping people up to date with what is happening in the Annapolis and Crofton areas. So much of all our jobs has become correcting wrongful media real estate reporting. The data can speak for itself if we present it.

Tammy you are very kind thanks! We are foortunate to serve a strong desirebale area.

Feb 21, 2013 10:02 PM #6
Rainmaker
760,427
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

Barbara-Jo, nice problem to have for sellers who have taken such a beating over the last 6 years.

Hi Mona, I appreciate our visit and have a great weekend!! Take some photos.

Feb 21, 2013 10:05 PM #7
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