August Numbers

Can I just start by saying "ugh"?

I've heard lots of comments over the last couple of weeks (from local real estate agents) about market improvements. This is all anecdotal evidence. And to be perfectly honest, I've seen a slight pick up in traffic on my listings as well.

But clearly, based on August numbers, they're only looking right now! The exception is Culpeper County where there's a clear uptick in contracts written.

The really bad news here is that inventory climbed in every single county I look at. Since we were already at all time highs, this is not a hopeful sign. Some of these are clearly foreclosures. And we are probably only on the leading edge of that wave right now.

I also think we're starting to see some sellers who while they might not NEED to sell right now, know they will be selling within a year and have decided there's not likely to be a better time between now and then. And the likelihood is that they're right.

For those of you who want to actually see the numbers, here is the chart, including history, for Culpeper:

MONTH	ACTIVE	NEW LISTINGS	NEW CONTRACTS	SOLD
02/06	465	133	65	49
03/06	556	204	74	58
04/06	592	177	70	67
05/06	689	226	72	65
06/06	738	183	53	64
07/06	759	140	48	43
08/06	751	151	43	40
09/06	723	138	64	44
10/06	705	121	32	44
11/06	625	81	39	38
12/06	612	80	30	38
01/07	640	165	41	19
02/07	623	91	48	36
03/07	643	145	54	52
04/07	740	211	53	32
05/07	788	165	37	40
06/07	784	113	47	31
07/07	803	145	39	40
08/07	814	154	50	32

Here is the Fauquier chart

MONTH	ACTIVE	NEW LISTINGS	NEW CONTRACTS	SOLD
02/06	489	149	64	54
03/06	610	296	91	61
04/06	692	254	94	77
05/06	732	237	107	87
06/06	781	218	78	90
07/06	816	190	62	54
08/06	823	206	79	79
09/06	794	162	62	61
10/06	821	197	51
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