Powered by RealTown Blogs

Culpeper Market November 2011

If you want it in a sound bite: Inventory is much improved. Sales stink!

Here are the details of the Culpeper real estate market.

Year over year the number of houses for sale is down almost 20%. That's terrific news! There are now fewer than 10 months of inventory at the current sales pace. That's getting pretty close to what's traditionally been defined as a healthy market.

You can, of course, find depressing stats as well.

The dollar volume of real estate sold this November as compared to a year ago is down 44%. That's a substantial number. The number of houses sold is down 36%.

But the average sales price is only down 8% year over year. Not nearly so gloomy.

The average days on market has actually improved. A year ago it took, on average over 3 months to get a contract on your house. Now that number is 79 days.

What happens next depends on several factors, including:

  • How many foreclosures are banks waiting to dump on the market?
  • Will Europe implode and drag us back into recession?
  • Will the unemployment numbers continue to improve?
Comments (1) :: Post A Comment! :: Permanent Link :: Email This Entry

RE: Culpeper Market November 2011

Posted by: Edwin
Date: Jan. 22, 2012

That's fine but really what you wrote above sounds perfect but we hope for the best.


Write a Comment

Your Name:  RealTown Members: Click here to login
Your E-Mail: 
Your Website: 
Subject: 
Your Comment: 
Notifications: 
Privacy: 
Verification: 
To verify that you are a human and not a script, please enter the verification word from the image into the box on the right.
 
Page 1 of 1
Real Estate Blogs - BlogCatalog Blog Directory card.ly