Sterling Real Estate Market Report for Attached Homes - February 2nd 2008

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Real Estate Agent

Sterling Real Estate Market Report for Attached Homes - February 2nd 2008

(Town Home, Patio Home, Duplex, and Other Attached Homes)

•·        Current home inventory = 242 homes.

•·        Price range for the Sterling area = Low $152,200 - High $435,000.

•·        Properties sold or under contract over the past 30 days = 82.

•·        Current absorption rate or average length of time a Sterling home stays on the market = 3.0 months.

Sterling town homes are moving briskly!  Sales of town homes increased over 30% in the past 30 days to 82 units! 

However, we still have many distressed town homes (short sale, foreclosure, and REO {real estate owned - by the bank}) on the market and those homes are competing with all the others and are placing downward pressure on prices.  With that said, overall, the trend appears to be good and the outlook is promising for real estate in Sterling!

We just may be turning the corner on this real estate market.  Time will tell, but rates are great, inventories are starting to shrink and home values are stabilizing.  If you are looking to sell...things are looking up.  If you are looking to purchase...now may be the best time ever.  By the time the newspapers start reporting that the market is improving it will be too late to get a great deal.  Now may be the best time ever to purchase a home!

If you would like to know specific details about homes in your neighbor-hood call me at 703-728-7060 or check out the free MLS search on my website @ http://www.homesdatabase.com/callcasa.

I am here for you for every step.

Jamie Casamento - Realtor
703.728.7060
http://www.realestate777.com/

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