Today we take a look at the October 2011 market statistics for Fauquier County. The beauty of statistics is that you can make them tell pretty much any story you want. And there's certainly that opportunity here!
What the ability to tell different stories should tell you first of all is that there's no dramatic story here. It's more like a muddled mess available to be shaped. Here are some of the elements you may find interesting.
Inventory is almost identical to last October. New listings are up 25% over a year ago. However, new contracts went up even more.
The average sales price is up 2.5% but the median sales price is down 5.5%. The number of units sold in October of 2011 is down about 18% from a year ago.
Sellers are ending up on average at about 90% of their original sales price when the do get the home sold which is taking about 4 months.
What is a buyer or seller to make of all this?
First of all, remember that October is typically when we begin to see a dip heading into winter when activity normally slows.
Second, there's nothing here that would indicate we're seeing any dramatic change in our local housing market. Steady as she goes.
Most importantly remember that this is a county wide look. Where you live in the county matters. The condition of your house matters. How you price your home really, really matters!