Culpeper Virginia Homes Sales Increase - Lower Priced Homes Increase Culpeper Virginia Homes Sales
The latest sales statistics for MRIS* which is our Virginia MLS service we use has just been released today October 10, 2008. It has some very interesting trends. First, Culpeper homes sales are up 65.98 % over same time period in September 2007 which had 27 home sales. September 2008 saw 53 Culpeper homes sold. The average price for a home sold in Culpeper has dropped from $336,584 last September to an average sold price of $229,900 this year. That is a drop in average sales price 28.04%. The final sales figure does not reflect that seller's contributions or concessions to make the deal work and that is lowering the sellers net. It is important to know in this market the sellers are netting less than reported by the statistics.
The list price sales price ratio of a Culpeper homes for sale is 89.60% the time needed to sell a home has decreased from 143 days to 114 days almost an 20.28% improvement in the time to sell a home. However, it is still definitely a buyers market! My interpretation is that a major increase in sales of units of homes in Culpeper VA that sold to sales of foreclosures, short sales, and motivated sellers. Homes that are realistically priced sell are selling.