http://sarahiouslyspeaking.com/2008/10/september-market-statistics/ There's No Fluff In This Stuff Thu, 09 Feb 2012 07:52:39 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://sarahiouslyspeaking.com/2008/10/september-market-statistics/comment-page-1/#comment-164 Sarah Stelmok Tue, 21 Oct 2008 13:43:34 +0000 http://sarahiouslyspeaking.com/?p=135#comment-164 Good question Bryan! This is pretty typical of Fredericksburg City for this time of year. One reason is that there is very little on the market that is "move-in ready." Most buyers are having a hard enough time qualifying for a loan, much less paying to repair a home they just purchased. In general, there is not alot on the market in Fredericksburg City, especially in the downtown area. The homes that seem to be sitting on the market are older and smaller, or newer and don't fit in with the neighborhood. We are also seeing many short sales and foreclosures in some of the neighborhoods that sit on the outskirts of the downtown area. (I would love to be able to break the statistics into the downtown area and all other Fredericksburg City areas, but I can't). This definitely affects the statistics and scews them. The traditional downtown properties are selling and selling fairly quickly; everything else is pulling the market down and adding to the months inventory. The good news is that Fredericksburg City did see a reduction in average days on market, as well as an increase in sales price to list price ratio. The bad news is that we have at least 2 more years of high foreclosure rates and Fredericksburg City will continue to be affected by it. Good question Bryan! This is pretty typical of Fredericksburg City for this time of year. One reason is that there is very little on the market that is “move-in ready.” Most buyers are having a hard enough time qualifying for a loan, much less paying to repair a home they just purchased. In general, there is not alot on the market in Fredericksburg City, especially in the downtown area. The homes that seem to be sitting on the market are older and smaller, or newer and don’t fit in with the neighborhood. We are also seeing many short sales and foreclosures in some of the neighborhoods that sit on the outskirts of the downtown area. (I would love to be able to break the statistics into the downtown area and all other Fredericksburg City areas, but I can’t). This definitely affects the statistics and scews them. The traditional downtown properties are selling and selling fairly quickly; everything else is pulling the market down and adding to the months inventory.
The good news is that Fredericksburg City did see a reduction in average days on market, as well as an increase in sales price to list price ratio. The bad news is that we have at least 2 more years of high foreclosure rates and Fredericksburg City will continue to be affected by it.

]]> http://sarahiouslyspeaking.com/2008/10/september-market-statistics/comment-page-1/#comment-162 Bryan Metts Tue, 21 Oct 2008 13:25:05 +0000 http://sarahiouslyspeaking.com/?p=135#comment-162 Any indications why the Fredericksburg city "Months of Inventory" went up so quickly in September? I'd been watching this stat gradually decline over the summer, thinking that maybe it was showing a rebound in the market (first take of inventory, then price might recover), but now it seems that we're back where we were this spring. Any indications why the Fredericksburg city “Months of Inventory” went up so quickly in September? I’d been watching this stat gradually decline over the summer, thinking that maybe it was showing a rebound in the market (first take of inventory, then price might recover), but now it seems that we’re back where we were this spring.

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