Fredericksburg City:

• 124 days on market – this is 3 days more than in May 2008
• Sellers received, on average, 76.75% of their list price when the home sold
• There is 14.92 months of inventory on the market
• 12 homes sold in May 2009 – this is 2 less than in May 2008
• The most popular price range was $100,000 and under.  All houses that sold were priced under $250,000. 
• The median sold price was $103,500,000, compared to $275,000 in May 2008
• 5 homes purchased with cash, 4 were FHA, 2 were conventional financing, and 1 was “other” financing

Orange County

• 154 days on market – this is 22 days less than in May 2008
• Sellers received, on average, 81.16% of their list price when the home sold
• There is 22.25 months of inventory on the market
• 20 homes sold in May 2009 – this is 5 less than in May 2008
• The most popular price ranges were $100,000-119,999, $160,000-$179,999, and $200,000-$249,999 
• The median sold price was $164,950, compared to $235,000 in May 2008 
• 2 homes were purchased with cash, 10 with FHA, 5 were conventional financing, 1 was VA, and 2 loans were assumed 

Spotsylvania County

• 98 days on market – this is 29 less than May 2008 
• Sellers received, on average, 89.64% of their list price when the home sold
• There is 5.43 months inventory on the market
• 174 homes sold in May 2009 – this is 54 more than in May 2008 
• The most popular price range was $200,000-$249,999
• The median sold price was $202,500, compared to $248,500 in April 2008 
• 27 homes purchased with cash, 58 were FHA, 44 were conventional financing, 29 were VA, and 2 were “other” financing

Stafford County

• 103 days on market – this is 26 less than May 2008 
• Sellers received, on average, 91.51% of their list price when the home sold
• There is 4.96 months inventory on the market
• 171 homes sold in May 2009 - this is 22 more than in May 2008 
• The most popular price range was $300,000-$399,999
• The median sold price was $245,000, compared to $281,100 in May 2008 
• 13 homes purchased with cash, 44 were FHA, 37 were conventional financing, 68 were VA, 8 loans were assumed, and 1 had “other” financing

Prince William County

• 78 days on market – this is 50 less than May 2008 
• Sellers received, on average, 93.34% of their list price when the home sold
• There is 3.71 months inventory on the market
• 753 homes sold in May 2009 - this is 29 less more than in May 2008
• The most popular price range was $300,000-$399,999
• The median sold price was $207,777, compared to $256,124 in May 2008
• 114 homes purchased with cash, 310 were FHA, 161 were conventional financing, 131 were VA, 33 loans were assumed, and 4 were purchased using “other” financing

Statistics provided and calculated using data supplied by MRIS.

Fredericksburg City:

• 95 days on market – this is 85 days less than in April 2008
• Sellers received, on average, 90.50% of their list price when the home sold
• There is 12.85 months of inventory on the market
• 13 homes sold in April 2009 – this is 1 more than in April 2008
• The most popular price range was $100,000 and under and $200,000-$249,999 
• The median sold price was $210,000, compared to $277,500 in April 2008
• 4 homes purchased with cash 

Orange County

• 244 days on market – this is 106 days more than in April 2008
• Sellers received, on average, 83.20% of their list price when the home sold
• There is 22.32 months of inventory on the market
• 19 homes sold in April 2009 – this is 9 less than in April 2008
• The most popular price range was $180,000-199,999
• The median sold price was $195,000, compared to $240,500 in April 2008 

Spotsylvania County

• 91 days on market – this is 34 less than April 2008 
• Sellers received, on average, 85.19% of their list price when the home sold
• There is 6.33 months inventory on the market
• 155 homes sold in April 2009 – this is 28 more than in April 2008 
• The most popular price range was $140,000-$159,999
• The average sold price was $174,900, compared to $237,000 in April 2008 
• 20 homes purchased with cash 

Stafford County

• 113 days on market – this is 46 less than March 2008 
• Sellers received, on average, 89.57% of their list price when the home sold
• There is 6.91 months inventory on the market
• 129 homes sold in March 2009 - this is 1 less than in April 2008 
• The most popular price range was $300,000-$399,999
• The average sold price was $219,900, compared to $294,950 in April 2008 
• 14 homes purchased with cash 

Prince William County

• 87 days on market – this is 45 less than April 2008 
• Sellers received, on average, 92.8% of their list price when the home sold
• There is 3.97 months inventory on the market
• 741 homes sold in April 2009 - this is 102 more than in April 2008
• The most popular price range was $300,000-$399,999
• The average sold price was $175,000, compared to $262,000 in April 2008
• 163 homes purchased with cash 

Statistics provided and calculated using data supplied by MRIS.

Fredericksburg City:

• 52 days on market – this is 144 days less than in March 2008
• Sellers received, on average, 86.51% of their list price when the home sold
• There is 11.36 months of inventory on the market
• 14 homes sold in March 2009 – this is 1 more than in March 2008
• The most popular price range was $100,000 and under. 
• The average sold price was $235,850, compared to $265,100 in March 2008

Orange County

• 137 days on market – this is 30 days less than in March 2008
• Sellers received, on average, 82.15% of their list price when the home sold
• There is 16.56 months of inventory on the market
• 25 homes sold in March 2009 – this is 5 more than in March 2008
• The most popular price range was $140,000-159,999
• The average sold price was $169,908, compared to $255,868 in March 2008 

Spotsylvania County

• 123 days on market – this is 8 less than March 2008 
• Sellers received, on average, 86.55% of their list price when the home sold
• There is 6.85 months inventory on the market
• 151 homes sold in March 2009 – this is 22 more than in March 2008 
• The most popular price range was $140,000-$159,999
• The average sold price was $211,146, compared to $263,469 in March 2008 

Stafford County

• 111 days on market – this is 34 less than March 2008 
• Sellers received, on average, 89.51% of their list price when the home sold
• There is 6.66 months inventory on the market
• 138 homes sold in March 2009 - this is 55 more than in March 2008 
• The most popular price range was $200,000-$249,999
• The average sold price was $230,573, compared to $318,644 in March 2008 

Prince William County

• 102 days on market – this is 32 less than March 2008 
• Sellers received, on average, 90.43% of their list price when the home sold
• There is 4.11 months inventory on the market
• 750 homes sold in March 2009 - this is 248 more than in March 2008
• The most popular price range was $300,000-$399,999
• The average sold price was $210,060, compared to $299,586 in March 2008

The most common asked question in the last month has been, “So, when’s the market gonna turn around?” My answer is usually the same.  “The market will turn around when consumer confidence is up, employment numbers are up, the world’s confidence in the U.S.’s economy is up, when banks have either restructured or short sold the majority of their bad loans, when consumers stop thinking they can get something for nothing, and when we all finally take responsibility for each of our roles in the housing market collapse.  So, about 3-4 more years.” 

These are alot of variables that need to fall into place before we start to see a huge improvement in the housing market.  We are making strides toward stabalization in this area.  Many banks involved in the predatory lending market have now streamlined their short sale process; making it easier to either restructure a predatory loan product or sell the house at a loss.  The easier it is to sell a home and buy a home, the more confident a consumer will be to enter this market.  We are also seeing a decrease in the number of days homes are staying on the market.  I chalk this up to marketability and price.  If the house is in good condition and priced well, it won’t be on the market long.  Now, I’m not saying to price a home under market value, but to realize what market value is.  We are holding steady at the sales price to list price ratio, averaging in the mid-80% range.  And, the number of homes we are selling every month continues to rise across the board. 

The larger part of the equation is convincing consumers that not everyone deserves to own their own home.  I know!  This is blasphemy!  The American Dream is to be a homeowner.  But, nowhere in the American Dream does it say that everyone deserves to a homeowner, hence the dream.  I get calls every week from consumers who are still looking for a “great deal.”  They have caviar dreams, but a Happy Meal budget.  If there is one lesson we can learn from this market it is that we need to purchase homes for our needs, not our wants.  It is important that consumers are realistic about the market and what they can afford.  It is equally important for REALTORS to advise their clients on the market and help set realistic expectations within the limits of the client’s financial situation and current market availability. 

When’s the market gonna turn around?  When we finally learn from our mistakes and get back to old fashion values of working for the American Dream, not just taking it for granted.

Fredericksburg City:

• 156 days on market – this is 19 days less than in February 2008
• Sellers received, on average, 84.24% of their list price when the home sold
• There is 13.08 months of inventory on the market
• 12 homes sold in February 2009 – this is 1 less than in February 2008
• The most popular price range was $250,000-299,999 and $200,000. 
• The average sold price was $188,775, compared to $307,362 in February 2008

Orange County

• 195 days on market – this is 13 days more than in February 2008
• Sellers received, on average, 85.26% of their list price when the home sold
• There is 16.65 months of inventory on the market
• 23 homes sold in February 2009 – this is 5 less than in February 2008
• The most popular price range was $200,000-$249,999
• The average sold price was $197,291, compared to $280,107 in February 2008 

Spotsylvania County

• 118 days on market – this is 46 less than February 2008 
• Sellers received, on average, 87.27% of their list price when the home sold
• There is 10.23 months inventory on the market
• 105 homes sold in February 2009 – this is 25 more than in February 2008 
• The most popular price range was $250,000-$299,999
• The average sold price was $222,282, compared to $281,423 in February 2008 

Stafford County

• 120 days on market – this is 30 less than February 2008 
• Sellers received, on average, 88.63% of their list price when the home sold
• There is 7.38 months inventory on the market
• 126 homes sold in February 2009 - this is 41 more than in February 2008 
• The most popular price range was $200,000-$249,999
• The average sold price was $223,321, compared to $342,113 in February 2008 

Prince William County

• 91 days on market – this is 34 less than February 2008 
• Sellers received, on average, 90.97% of their list price when the home sold
• There is 5.22 months inventory on the market
• 614 homes sold in February 2009 - this is 227 more than in February 2008
• The most popular price range was $200,000-$249,999
• The average sold price was $204,378, compared to $307,392 in February 2008

Yep, it’s true, prices are continuing to fall.  Prices have fallen an average of $94,470 for the areas I mentioned above.  There are several reasons for the decrease in home sale prices.  First, there’s the whole mortgage/ housing collapse crisis this nation is experiencing.  As long as consumer confidence is down and the stock market is volatile, prices will continue to fall.  It’s the nature of the beast.  Second, there was a moratorium on foreclosures over the winter holiday.  This means less foreclosed homes came on the market and there was less inventory to choose from.  Many buyers opted to wait to purchase a home until inventory increases.  Or, they are waiting for the elusive 4.5% interest rates they were “promised.”  Less inventory and less buyers equals less competition and the buyers in the market made low offers because they could.  (However, if the house is in good condition, still expect competing offers, over list price).  The third reason prices keep dropping is it is the winter selling season.  We typically see a decrease in sales price this time of year because sellers get desperate and lower their prices.  These sellers fear the competition that will come on the market by the middle of April.  The added advantage for these sellers is that the buyers who are writing contracts during the winter months are serious about buying a home.  However, these buyers are also more likely to negotiate a contract in their favor. 

I’ve said it once, and I will continue to say it, the key to this market, if you are a seller is PRICE!  Price competitively the first time and you will have a much better chance of selling your home.  The key to this market if you are a buyer is good credit and patience!  If a buyer is in a popular price range, they should expect to be in a competing offer situation several times before they actually get a contract ratified. 

If you would like market statistics specific to your zip code or neighborhood, please feel free to email me.

Fredericksburg City:

• 197 days on market – this is 57 days more than in January 2008
• Sellers received, on average, 81.6% of their list price when the home sold
• There is 9.86 months of inventory on the market
• 14 homes sold in January 2009 – this is 2 more than in January 2008
• The most popular price range was $100,000-149,999 and $200,000- 249,999 equally. 
• The average sold price was $225,459, compared to $338,775 in January 2008

Orange County

• 153 days on market – this is 37 days less than in January 2008
• Sellers received, on average, 79.15% of their list price when the home sold
• There is 32.08 months of inventory on the market
• 12 homes sold in January 2009 – this is 4 less than in January 2008
• The most popular price range was $140,000-$159,999
• The average sold price was $218, 940, compared to $262,764 in January 2008 

Spotsylvania County

• 135 days on market – this is 49 less than January 2008 
• Sellers received, on average, 86.65% of their list price when the home sold
• There is 12.6 months inventory on the market
• 85 homes sold in January 2009 – this is 14 more than in January 2008 
• The most popular price range was $250,000-$299,999
• The average sold price was $237,421, compared to $294,604 in January 2008 

Stafford County

• 144 days on market – this is 14 more than January 2008 
• Sellers received, on average, 85.62% of their list price when the home sold
• There is 10.24 months inventory on the market
• 91 homes sold in January 2009 - this is 34 more than in January 2008 
• The most popular price range was $200,000-$249,999
• The average sold price was $254,804, compared to $314,285 in January 2008 

Prince William County

• 103 days on market – this is 32 less than January 2008 
• Sellers received, on average, 90.23% of their list price when the home sold
• There is 5.17 months inventory on the market
• 647 homes sold in January 2009 - this is 335 more than in January 2008!
• The most popular price range was $300,000-$399,999
• The average sold price was $210,255, compared to $318,859 in January 2008

January is typically a pretty slow month for several reasons.  First, consumers are still getting over the holiday spending spree.  Second, inventory is usually lower because most traditional sellers don’t want to market their homes during the holidays.  The weather also plays a factor in the productivity for the month.  But this January had three factors we haven’t seen in a while.  The election of President Barack Obama has helped fuel consumer confidence and the real estate market.  This confidence has flowed over to the lending industry and created lower interest rates and the availability of money to lend.  The third factor is one of supply and demand.  In November, at least two large lending institutions put a moratorium on foreclosures during the holidays.  This created a decrease in available homes for prospective purchasers and an increase in demand for homes in good condition that were available for quick delivery.  All of these factors created a perfect storm for a productive January market.

Now, there are always nuances to any real estate market.  Fredericksburg City is always a tough market to read.  Unless you consistently work or do real estate business in Fred City, the numbers look gloomy.  However, the inventory in the City has been very low recently and what is available may not meet the needs of today’s home buyer.  I am seeing more investment sales than owner occupied sales within the city limits.  The good news is that with slow down in the overall pace in Fred City, there are still only 9.86 months inventory on the market.  This is a much better number than what we have been looking at in recent months. 

Prince William County is consistently racking up huge numbers in all columns except price.  However, Prince William County has an abnormally high rate of foreclosures and short sales.  Yes, this is most likely due to abnormally high incidences of predatory lending in that county.  But don’t let the numbers fool you.  Prince William County real estate is extremely competitive.  There may be an abundance of listings, but not all of them are move-in ready.  Buyers looking in Prince William need to be ready to compete with multiple offers and think about making offers higher than list price.  You also better be ready to move fast if you like a house.  The good ones go quickly.

Fredericksburg City:

• 82 days on market – this is 117 days less than in December 2007
• Sellers received, on average, 92.38% of their list price when the home sold
• There is 15.7 months of inventory on the market
• 10 homes sold in December 2008 – this is the same as in December 2007
• The most popular price range was $300,000-399,999 and $400,000- 499,999 equally. 
• The average sold price was $282,806, compared to $322,330 in December 2007

Orange County

• 102 days on market – this is 88 days less than in December 2007
• Sellers received, on average, 90.35% of their list price when the home sold
• There is 19.86 months of inventory on the market
• 21 homes sold in December 2008 – this is 4 more than in December 2007
• The most popular price range was $200,000-$249,999
• The average sold price was $206,633, compared to $394,812 in December 2007

Spotsylvania County

• 111 days on market – this is 24 less than December 2007
• Sellers received, on average, 87.6% of their list price when the home sold
• There is 9.29 months inventory on the market
• 121 homes sold in December 2008 – this is 29 more than in December 2007
• The most popular price range was $200,000-$249,999
• The average sold price was $225,845, compared to $297,321 in December 2007

Stafford County

• 120 days on market – this is 48 less than December 2007
• Sellers received, on average, 88.43% of their list price when the home sold
• There is 7.33 months inventory on the market
• 139 homes sold in December 2008 – this is 74 more than in December 2007
• The most popular price range was $300,000-$399,999
• The average sold price was $253,335, compared to $343,565 in December 2007

Prince William County

• 108 days on market – this is 32 less than December 2007
• Sellers received, on average, 90.63% of their list price when the home sold
• There is 4.26 months inventory on the market
• 845 homes sold in December 2008 – this is 491 more than in December 2007!
• The most popular price range was $300,000-$399,999
• The average sold price was $212,403, compared to $349,634 in December 2007

From a REALTOR standpoint, December was a flurry of activity!  For myself and my C21 New Millennium branch, it was the busiest December in years.  So, in a down market, why is the real estate industry seeing a slight boom in business?  There are several reasons I can think of.  First, interest rates have been low.  After spending several months in the 6-7.5% interest rate range, we have been able to enjoy interest rates that hover around 5%.  For a brief 20 minutes some buyers even got to lock-in to interest rates below 5%!  Second, there is a built-up desire to purchase homes.  Buyers who were on the fence finally got off of the fence.  This is probably due in large part to the lower interest rates.  However, we also saw changes in some popular loan programs that required buyers to purchase a home before December 31 in order to benefit from the loan product.  Third, foreclosure banks started accepting reasonable offers in a timely manner.  This allowed buyers to get to the closing table before the New Year.  Fourth, Many banks that were being “acquired” by other banking institutions or “acquiring” banking institutions had a desire to get the bad debt off their books before the take-over.  We saw a noticable increase of activity for Countrywide and Wells Fargo.

Fortunately, this increase in activity has carried over to the New Year.  Even on traditional sales, showings are up and contracts are beginning to come in and be negotiated.  What’s important to remember is that we are still sorting through the consequences of the last 4 years.  This boom does not mean that we are well on our way to recovery.  What it does mean is that buyers are in the market and they are buying.  It is as important as ever to price your home correctly the moment it goes on the market.  Selling a home in this market is like creating a perfect storm.  There are several factors that have to happen simultaneously in order to end up at the settlement table.  Taking responsibility for the factors that you can influence is key to a successful outcome.

Fredericksburg City:

• 188 days on market – this is 46 days more than in October 2007
• Sellers received, on average, 84.26% of their list price when the home sold
• There is 10.18 months of inventory on the market
• 17 homes sold in October 2008 – this is 7 more than in October 2007
• The most popular price range was $200,000-$249,999
• The average sold price was $332,562, compared to $499,723 in October of 2007

Orange County

• 171 days on market – this is 26 days more than in October 2007
• Sellers received, on average, 85.24% of their list price when the home sold
• There is 17.88 months of inventory on the market
• 26 homes sold in October 2008 – this is10 less than in October 2007
• The most popular price range was $200,000-$249,999
• The average sold price was $212,148, compared to $259,683 in October 2007

Spotsylvania County

• 98 days on market – this is 35 less than October 2007
• Sellers received, on average, 91.47% of their list price when the home sold
• There is 9.26 months inventory on the market
• 130 homes sold in October 2008 – this is 16 more than in October 2007
• The most popular price range was $200,000-$249,999
• The average sold price was $253,837, compared to $316,219 in October 2007

Stafford County

• 126 days on market – this is 6 less than October 2007
• Sellers received, on average, 87.8% of their list price when the home sold
• There is 9.76 months inventory on the market
• 117 homes sold in October 2008 – this is 27 more than in October 2007
• The most popular price range was $300,000-$399,999
• The average sold price was $261,028, compared to $338,175 in October 2007

Prince William County

• 114 days on market – this is 14 less than October 2007
• Sellers received, on average, 90.31% of their list price when the home sold
• There is 5.02 months inventory on the market
• 841 homes sold in October 2008 – this is 514 more than in October 2007!
• The most popular price range was $300,000-$399,999
• The average sold price was $258,581, compared to $357,061 in October 2007

Overall the market was pretty brisk in October, although we did see the customary drop-off in activity that is typical with the fall market.  Interest rates remained fairly stable, although we did see some spikes in the mortgage market, through October which allowed buyers to maintain a higher level of confidence and decide to go ahead and purchase a home.  The average days on market are continuing to steadily decrease from last year.  Fredericksburg City is harder to track based on the dichotomy of the city, having the historic downtown area compared to the outskirts of the city.  Fredericksburg City also saw several high end homes sell last year as compared to the lower priced homes that have been popular this year.  Prince William County continues to be very active and is being fueled by the foreclosure market.  If interest rates remain at around 6% we will continue to see this trend. 

If you would like additional market information, or if you would like a zip code or neighborhood market analysis, please contact me at Sarah@BuyInFredericksburg.com.       

September was actually a good month for closings in all counties that I service.  What was slower was the number of showings per listing and the number of houses going under contract.  I expect to see this reflected in the October sold statistics, since most contracts take 30 days to close. We have seen a new surge of buyers in the market the last two week with the passing of the Bailout Bill.  Loans are still out there and interest rates are still reasonable, but the mortgage market should get more challenging as we head into winter.  Here is a county break down of the market statistics for this area:

Fredericksburg City:

• 93 days on market – this 4 days less than in September 2007
• Sellers received, on average, 95.92% of their list price when the home sold
• There is 15.73 months of inventory on the market
• 11 homes sold in September 2008 – this is 2 less than in September 2007
• The most popular price range was $300,000-$349,900
• The average sold price was $224,678, compared to $282,845 in September of 2007 (3 homes sold for less than $100,000 this September)

Orange County

• 174 days on market – this is 29 days more than in September 2007
• Sellers received, on average, 89.24% of their list price when the home sold
• There is 16.4 months of inventory on the market
• 30 homes sold in September 2008 – this is 9 more than in September 2007
• The most popular price range was $250,000-$299,999
• The average sold price was $228,327, compared to $306,020 in September 2007

Spotsylvania County

• 123 days on market – this is two less than September 2007
• Sellers received, on average, 89.5% of their list price when the home sold
• There is 7.86 months inventory on the market
• 161 homes sold in September 2008 – this is 64 more than in September 2007
• The most popular price range was $200,000-$249,999
• The average sold price was $248,780, compared to $318,857 in September 2007

Stafford County

• 116 days on market – this is 19 less than September 2007
• Sellers received, on average, 90.48% of their list price when the home sold
• There is 7.95 months inventory on the market
• 149 homes sold in September 2008 – this is 63 more than in September 2007
• The most popular price range was $300,000-$399,999
• The average sold price was $274,365, compared to $397,342 in September 2007

Prince William County

• 107 days on market – this is 20 less than September 2007
• Sellers received, on average, 91.34% of their list price when the home sold
• There is 4.81 months inventory on the market
• 934 homes sold in September 2008 – this is 629 more than in September 2007!
• The most popular price range was $200,000-$249,999
• The average sold price was $230,999, compared to $370,506 in September 2007

On average homes are sitting on the market less time in September 2008 than they did in September 2007.  We have faster absorption rates than last year and more homes are selling.  Sellers are selling their homes for amounts closer to their list price, but they are selling their homes for an average of $93,564.20 less than what they were selling for last year.  A great deal of this disparity can be attributed to the foreclosure and short sale markets.  The most popular price ranges are consistantly the first-time home buyer price ranges. 

What does this mean for you if you are a buyer?  You can still get a good deal, but the deal is that homes are priced far less than they were a year ago and way cheaper than they were 2 years ago.  As a buyer you can still expect to make offers close to list price, especially if you are asking the Seller to pay your closing costs.  Many banks are actually pricing properties below market value in hopes of getting multiple offers and starting bidding wars.  (By the way, this tactic is working). 

What does this mean if you are a seller?  It is a PRICE driven market.  I cannot say that enough!  PRICE DRIVEN!  You are competing with foreclosures.  You need to make your home stand out from the foreclosures any way you can.  You need to maintain your home and keep records of repairs.  You need to make your home modern and buyer friendly.  Spend the extra money to declutter and stage your home.  And most inportantly, price your home well!  It is an awful feeling to chase the market.  Stay on top of the market by pricing it right the first time.      

Fredericksburg City -

• 108 days on market – this is 25 less days than in August 2007
• Sellers received, on average, 92.54% of their list price when the home sold
• There are 13.36 months inventory on the market
• 14 homes sold in August 2008, this is 7 more than in August 2007
• The most popular price range was $300,000-$399,999
• The average sales price was $263,298, compared to $352,273 in August 2007

Orange County

• 158 days on market – this is 54 days less than in August 2007
• Sellers received, on average, 87.44% of their list price when the home sold
• There are 16.87 months inventory on the market
• 31 homes sold in August 2008, this is 7 more than in August 2007
• The most popular price range was $200,000-$249,999
• The average sales price was $219,950, compared to $338,129 in August 2007

Spotsylvania County

• 117 days on market- this is 27 days less than in August 2007
• Sellers received, on average, 89.4% of their list price when the home sold 
• There are 8.31 months inventory on the market
• The most popular price range was $250,000-$299,999
• The average sales price was $262,389, compared to $314,311 in August 2007

Stafford County

• 107 days on market – this is 9 days less than in August 2007
• Sellers received, on average, 89.89% of their list price when the home sold
• There are 8.5 months inventory on the market
• The most popular price range was $300,000-$399,999
• The average sales price was $287,918, compared to $367,920 in August 2007

Prince William County

• 111 days on market – this is 13 less than in August 2007
• Sellers received, on average, 90.4% of their list price when the home sold
• There are 5.77 months inventory on the market
• The most popular price range was $200,000-$249,999
• The average sales price was $251,384, compared to $395,233 in August 2007