The phrase “sales are up, prices are down” has become the mantra of many real estate professionals over the last three years, however third quarter ’09 sales indicate a firming of pricing, at least for those properties that have sold.

 

Over the first six months of 2009, the median sales price in Fauquier County was $250,000. For the first quarter since 2005, the median sales price in Fauquier held firm quarter over quarter with no decline. Even better news is that the third quarter of 2009 has produced 206 of this year’s 600 “sales:” October 2009 sales show a five percent gross sale decrease while maintaining the same median sold price. If the numbers of sales continue at a seasonally adjusted rate, our market in 2009 will have enjoyed its best year since 2007.

 

With the President signing the “Extension of the Tax Credit Bill,” today, this act not only offers first time buyer’s an $8,000 tax credit, it now offers move up buyers a maximum of $6,500 tax credit if they purchase before April 30, 2009. Hopefully this will provide the “horsepower” to aid the winter housing real estate market.

 

There is a reason to sell and buy now.

 

If you would like the data this article was based upon, please contact Don Khoury