Waiting For Real Estate Prices To Bottom Out?

By
Real Estate Broker with RE/MAX Real Estate Connections
http://actvra.in/JKz
They Have - The Real Estate Inventory Shortage In Prince William County Is Having A Direct Impact On Price


I subscribe to interactive graphs from our MLS that offer me a broad range of statistical information - I am not at liberty to alter the numbers to suit my purposes.

The first chart shows the median sold price for all home types across all price ranges over the past 12 months throughout Prince William County. It was $254,500 in September 2011 and has risen steadily to $275,500 in August 2012 - an 8% increase!!. The dollar average is not the issue as everyone understands there is a wide range of prices in Prince William County.

Yes, there are areas where the percentage increase may be incorrect, but the overwhelming evidence supports an upward trend is in motion in Prince William County.




This second chart measures available inventory levels of six price points across all home types (condos, detached and town homes). Every single one of them is showing an inventory decline over the past 12 months.

The largest is 35% in the $200 to $300K price range while the lowest is 16% in the $400 to $500K range.



Interest rates are at historically low levels - there could not be a better time to purchase a home as an investment in addition o the flexibility of decorating and life style opportunities that home ownership offers.

You will be best served by a REALTOR® with the tools and experience to guide you through the process. The Kruschkas are long term Prince William County residents with 36 years experience as real estate brokers serving Woodbridge, Manassas, Dumfries, Manassas Park, Bristow, Brentsville, Gainesville and Haymarket.

Experience Isn’t Expensive – It’s PRICELESS

If you plan to buy a Prince William County home or property contact Karen and Art by Email or call us at 703-499-9279. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

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Popular Prince William County homes include Eagles Pointe, Wellington, River Falls, Saratoga Hunt, Potomac Club, Winding Creek, Hope Hill Crossing, Lake Ridge, Westridge, Old Bridge Estates, Brittany, Montclair, Ashland, Port Potomac, Rollingwood Village, Lake Terrapin, Lake Side and Meadowbrook Woods

Prince William County

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Topic:
Home Buying
Location:
Virginia Prince William County Woodbridge Ashland
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karen marketing 2012
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Comments 30 New Comment

Ambassador
1,423,839
Karen Kruschka
- "My Experience Isn't Expensive - It's PRICELESS"
RE/MAX Real Estate Connections

Bruce  The trend is encouraging.  Yes, our MLS is way ahead of the cutve

October 10, 2012 04:33 AM
Rainmaker
1,761,236
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Excellent report, Karen.  Many home buyers are shocked to find themselves in multiple contract competition.

Have a great day and an outstanding week.


October 10, 2012 07:23 AM
Ambassador
1,423,839
Karen Kruschka
- "My Experience Isn't Expensive - It's PRICELESS"
RE/MAX Real Estate Connections

Roy  Thank you  - these graphs are really effective tools

October 10, 2012 10:24 AM
Ambassador
827,736
Connie Harvey
Realtor - Nashville TN Real Estate
Pilkerton Realtors

Karen, we're experiencing the same thing! I can't believe people are still waiting when the next thing to go up will be the interest rates!

October 10, 2012 03:13 PM
Ambassador
1,423,839
Karen Kruschka
- "My Experience Isn't Expensive - It's PRICELESS"
RE/MAX Real Estate Connections

Connie  I think the economy is causing them to be cautious

October 10, 2012 04:21 PM
Ambassador
1,423,839

Karen Kruschka

- "My Experience Isn't Expensive - It's PRICELESS"
Call Me At 703-499-9279 To Buy Or Sell A Home
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Additional Information


Northern Virginia
Homes For Sale

Alexandria

Arlington

Bristow

Burke

Centreville

Chantilly

Dumfries

Fairfax

Fairfax Station

Franconia

Haymarket

Herndon

Kingstowne

Lorton

Manassas

Manassas Park

Mount Vernon

McLean

Nokesville

Reston

Springfield

Stafford

Triangle

Woodbridge



Port Potomac


Lake Ridge


Westridge


River Falls


Old Bridge Estates


Montclair


Eagles Pointe


Potomac Club


Winding Creek


Meadowbrook Woods


Saratoga Hunt


Brittany


Ashland