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I love good news and, fortunately, there's plenty available in this month's real estate statistics. The trends, across the board, are up! And, not only that, but if you look at trends over the last six months you see a longer term upward trend that seems to be developing.
Take a look at Culpeper County for example:
Month # Listings New Listings New Contracts Solds
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02/08
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819
|
206
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51
|
31
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03/08
|
802
|
142
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53
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42
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04/08
|
809
|
171
|
74
|
48
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05/08
|
779
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160
|
76
|
63
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06/08
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732
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130
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61
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57
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07/08
|
691
|
116
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64
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54
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This is great news! The most important thing here is the continued downward trend of inventory. Solds are generally trending upwards, although not quite as strongly. But it's a good news story.
Fauquier is also looking good:
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02/08
|
730
|
153
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44
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32
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03/08
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734
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140
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56
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35
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04/08
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764
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168
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68
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47
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05/08
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764
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145
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79
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49
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06/08
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753
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128
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61
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67
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07/08
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745
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141
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68
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117
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In Fauquier the decrease in inventory is less convincing. But the steady increase in sales is helping to make up for that. If it continues we'll ultimately see a decrease on the inventory side as well.
Now the caveat, of course!
We are at the end of the summer, the busiest home buying period. We may very well begin to see the inventory numbers begin to rise again after August and see sales numbers fall.
Prices are nowhere near stabilizing.
But in a year of nothing but doom and gloom, there's a little good news here!
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