Earlier in the week I provided some numbers to give you an idea of what the inventory picture has looked like homes for sale in Fauquier County over the last year. Here is the same information for Culpeper County.
This data covers 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.
|
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
|
The good news is that inventory is definitely down from it’s peak last summer. The bad news is that we’re in the period of the year where inventory typically increases. But, buyers also come out in larger numbers this time of year. So it’s possible to read this through rose colored glasses or to become completely pessimistic looking at these numbers.
As usual, the truth probably lies somewhere in the middle! No doubt we’re still in a great buyer’s market. But there’s reason to believe this summer will be better than last. Interest rates are actually down again and there are a lot of really amazing deals. This may draw more buyers into the market than anyone is anticipating!
Watch this space to see what happens!
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