As we move into early 2016, it is interesting to look back at the home price recovery that occurred in the county since 2009.
The median home price in Prince William county has risen over $125,000 per unit from the market bottom of first quarter 2009 as you can see from the graph below...the 10 year median price trend.
Good interest rates have been one the catalysts in the 5 year price rise. The number of active listings has grown as more sellers are in the black with real equity after years of being "upside down" had they purchased at the height of the market in 2005/6.
The graph below which shows the 5 year history of # of active homes for sale by month.
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The number of days that it takes to get a winning contract jumped to over 60 in January 2016... possibly because no one did anything the last week of the month with the huge snow we had.
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As always, the strong economy of our area has cushioned us from the worst.
Well priced homes under $300k in good locations and in good condition have been getting contracts quickly.
Upper end properties ...above $600k, are moving well but more slowly even though some of them had sold for over $700k once upon a time.
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.
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Moving to Northern Virginia? Not familiar with the area?
We are more than traffic and a great job market.
Below is a link to a photo tour of typical home styles and our countryside
yside: http://video214.com/play/ngb0RJKin5pR3jr2CUotnw/s/dark
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