The Market in Locust Grove, Virginia

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The Market in Locust Grove

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The Market

Southern Region Market Snapshot for November 2014

The Mid-Atlantic: Southern Region Market Snapshot for November 2014 for Spotsylvania County, VA

This area includes the following zip codes:

22407 & 22408 in Fredericksburg, VA
22508 in Locust Grove, VA
22553 & 22551 in Spotsylvania County, VA
22567 for Unionville in Orange County, VA
22580 for Woodford in Caroline County, VA
22960 for Orange, VA
22534 for Partlow in Spotsylvania County, VA

The Southern Region market snapshot for Spotsylvania County, Virginia for November 2014 is as follows:

For the month of November 2014, the Units Sold rose slightly at 4.39% over 2013’s November units of 119, to 114.  The Average Sold Price for homes reported in this Southern Region for November 2014 was $268,599, which increased slightly over the preceding month of October and  increased 3.36% over November’s LY (last year) of $259,880. The Average Days on the Market for the month of November 2014 saw a substantial increase over November 2013’s 75 days to November 2014’s reported 95 days.  The ratio of Average Sold Price to Average Original List Price dropper almost 2% with November 2014 at 92.9%. The Average Sold Price for Detached homes sold in Virginia’s Southern Region in November 2014 was $275,992 versus $266,710 from November 2013, another area that saw a measurable increase of 3.48% in sold prices over the previous year.

 

Active Listing housing inventory for Spotsylvania County in this Southern Region of Virginia fell again slightly for another consecutive month for November 2014 to 648, 162 of them New Listings.

The real estate market statistics for Virginia’s Southern Region for the month of November 2014 confirm that Sellers are still receiving fair market offers on their homes. Buyer closing cost assistance continues to average around 3-5% of an offer’s sales price.  Buyer activity continues to emerge upward in November of 2014 as well.  New Listing inventory fell back slightly for the for the second month in November 2014 as well.  Total inventory is still up for the eighteenth month in a row, the highest total in years.  The increased inventory is giving Buyers many choices out there in the Mid-Atlantic Region and will hopefully continue to entice Buyers in these slower, colder months to come.

Sign up for monthly real estate updates at HomesInFredericksburgVA.com and check back for Spotsylvania County, VA’s December 2014 Real Estate Market Snapshot coming in mid-November 2014. Source www.rbintel.com, www.getsmartcharts.com

Southern Region Market Snapshot for October 2014

The Mid-Atlantic: Southern Region Market Snapshot for October 2014 for Spotsylvania County, VA

This area includes the following zip codes:

22407 & 22408 in Fredericksburg, VA
22508 in Locust Grove, VA
22553 & 22551 in Spotsylvania County, VA
22567 for Unionville in Orange County, VA
22580 for Woodford in Caroline County, VA
22960 for Orange, VA
22534 for Partlow in Spotsylvania County, VA

The Southern Region market snapshot for Spotsylvania County, Virginia for October 2014 is as follows:

For the month of October 2014, the Units Sold rose measurably at 22.31% over 2013’s October units of 121, to 148.  The Average Sold Price for homes reported in this Southern Region for October 2014 was $263,689, which decreased over the preceding month of September but increased 2.11% over October’s LY (last year) of $258,237. The Average Days on the Market for the month of October 2014 saw a substantial increase over October 2013’s 59 days to October 2014’s reported 84 days.  The ratio of Average Sold Price to Average Original List Price rose over 1% with October 2014 at 94.4%. The Average Sold Price for Detached homes sold in Virginia’s Southern Region in October 2014 was $273,211 versus $263,856 from October 2013, another area that saw a measurable increase of 3.55% in sold prices over the previous year.

Active Listing housing inventory for Spotsylvania County in this Southern Region of Virginia fell slightly to 712 for another consecutive month for October 2014, 199 of them New Listings.

The real estate market statistics for Virginia’s Southern Region for the month of October 2014 confirm that Sellers are still receiving fair market offers on their homes. Seller concessions continue to average around 3-5% of the sales price.  Buyer activity continued to emerge upward in October of 2014 as well.  New Listing inventory fell back for the first time in months in October 2014 as well.  Total inventory is still up for the seventeenth month in a row, the highest total in years.  The increased inventory is giving Buyers many choices out there in the Mid-Atlantic Region and will hopefully continue to entice Buyers in the slower months to come.

Sign up for monthly real estate updates at HomesInFredericksburgVA.com and check back for Spotsylvania County, VA’s November 2014 Real Estate Market Snapshot coming in mid-December 2014. Source www.rbintel.com, www.getsmartcharts.com