Fauquier County - A Year's Worth of Data

I believe that numbers tell stories. And, going into the spring market, with everyone desperately trying to determine where the local market is headed, my instinct is to turn to the numbers.

It helps me determine whether my current experiences are unique or reflective of the market overall. And it helps me paint a truer picture of the market for my sellers as we look at realistic pricing.

So, here is a small piece of the real estate puzzle for Fauquier County, Virginia for the months from February, 2006 through February 2007. The data is taken from our MLS system and includes properties residential properties listed between $100,000 and $5,000,000.

The numbers I've chosen to look at are the total number of active listings at the end of that month, new listings that went on the market that month, properties newly under contract that month, and properties that went to settlement that month.

There is nothing here that would support wild optimism about the upcoming market. There are some causes for concern as inventory is much, much too high, even though it's fallen from it's peak in August of last year.

The questions hanging out there are how many buyers will the spring bring? How many buyers will be taken out of the market by the tightening credit standards? Will foreclosures increase enough that they seriously impact inventory? Will investors believe we're close enough to bottom that they ought to be buying?

So, how does your market look?