Sarahiously Speaking

October was none too shabby.  Low interest rates are fueling the market right now.  It will be interesting to see what happens to the market as banks release more of their foreclosure inventory.  The REO properties are coming.  The market inventory should increase after the holidays and we could see prices dip to stay competitive.  We are definitely not out of the woods yet and should expect at least another 4 cycles of foreclosures before we can see teh hint of light at the end of the tunnel.   

Fredericksburg City

• 79 days on market – this is 38 days less than in October 2010
• Sellers received, on average, 90.5% of their list price when the home sold
• There is 5.8 months of inventory on the market
• 18 homes sold in October 2011 – this is 3 more than October 2010.
• The most popular price range was $200,000-$299,999.
• The median sold price was $210,250, compared to $219,000 in October 2010.
• Financing Terms:  Conventional – 4, FHA – 2, VA – 4, Cash – 7, Other – 1

Orange County

• 121 days on market – this is 33 days more than in October 2010
• Sellers received, on average, 91.1% of their list price when the home sold
• There is 12.84 months of inventory on the market
• 25 homes sold in October 2011 – this is 5 more than in October 2010
• The most popular price ranges were $150,000-$199,999.
• The median sold price was $153,000, compared to $183,255 in October 2010 
• Financing Terms:  Conventional – 3, FHA – 8, VA –2, Cash –8, Other – 4

Spotsylvania County

• 82 days on market – this is 15 more than October 2010
• Sellers received, on average, 92.8% of their list price when the home sold
• There is 4.87 months inventory on the market
• 126 homes sold in October 2011 – this is 5 less than in October 2010 
• The most popular price range was $150,000-$199,999
• The median sold price was $178,000, compared to $184000 in October 2010 
• Financing Terms:  Conventional – 32, FHA – 36, VA – 24, Cash – 25, Other – 9

Stafford County

• 63 days on market – this is 7 less than October 2010
• Sellers received, on average, 95.3% of their list price when the home sold
• There is 4.04 months inventory on the market
• 123 homes sold in October 2011 - this is 9 more than in October 2010 
• The most popular price range was $200,000-$299,999
• The median sold price was $246,000, compared to $263,550 in October 2010 
• Financing Terms:  Conventional – 28, FHA – 31, VA – 43, Cash – 17, Other – 4

Prince William County

• 54 days on market – this is 11 more than October 2010 
• Sellers received, on average, 96.4% of their list price when the home sold
• There is 3.58 months inventory on the market
• 394 homes sold in October 2011 - this is 53 less than in October 2010
• The most popular price range was $200,000-$299,999
• The median sold price was $244,500, compared to $250,000 in October 2010
• Financing Terms:  Conventional – 101, FHA – 153, VA – 77, Cash – 56, Other – 7

Caroline County

• 121 days on market – this is 33 more than October 2010 
• Sellers received, on average, 89.1% of their list price when the home sold
• There is 6.25 months inventory on the market
• 32 homes sold in October 2011 - this is 2 less than in October 2010
• The most popular price range was under $100,000-$149,999
• The median sold price was $137,500, compared to $150,950 in October 2010
• Financing Terms:  Conventional – 12, FHA –10, VA – 2, Cash – 4, Other – 4

All data provided by MRIS.

I’m giving August a thumbs-up, but barely… just barely.  Inventory is pretty low, which is actually a good thing as we head into the fall selling season.  However, rumor has it that banks are releasing a new wave of REO properties in the next month or two.  This should create longer days on market and more months’ inventory.  Unfortunately, sales price ratios will most likely also see a decline.  Those pesky banks!   

Fredericksburg City:

• 84 days on market – this is 67 days less than in August 2010
• Sellers received, on average, 98.5% of their list price when the home sold
• There is 5.8 months of inventory on the market
• 20 homes sold in August 2011 – this is 4 more than August 2010.
• The most popular price range was $200,000-$299,999.
• The median sold price was $220,000, compared to $283,500 in August 2010.
• Financing Terms:  Conventional – 8, FHA – 5, VA – 3, Cash – 2

Orange County

• 116 days on market – this is 31 days less than in August 2010
• Sellers received, on average, 89.5% of their list price when the home sold
• There is 7.95 months of inventory on the market
• 41 homes sold in August 2011 – this is 10 more than in August 2010
• The most popular price ranges were $100,000-$149,999.
• The median sold price was $150,000, compared to $160,000 in August 2010 
• Financing Terms:  Conventional – 16, FHA – 6, VA –1, Cash –14, Other – 4

Spotsylvania County

• 75 days on market – this is 20 more than August 2010
• Sellers received, on average, 93.8% of their list price when the home sold
• There is 4.19 months inventory on the market
• 157 homes sold in August 2011 – this is 20 more than in August 2010 
• The most popular price range was $200,000-$299,999
• The median sold price was $187,000, compared to $200,000 in August 2010 
• Financing Terms:  Conventional – 38, FHA – 41, VA – 40, Cash – 32, Other – 6

Stafford County

• 66 days on market – this is 5 more than August 2010
• Sellers received, on average, 95.3% of their list price when the home sold
• There is 4.7 months inventory on the market
• 120 homes sold in August 2011 - this is 43 less than in August 2010 
• The most popular price range was $200,000-$299,999
• The median sold price was $225,000, compared to $249,625 in August 2010 
• Financing Terms:  Conventional – 31, FHA – 30, VA – 41, Cash – 17, Other – 1

Prince William County

• 53 days on market – this is 10 more than August 2010 
• Sellers received, on average, 96.8% of their list price when the home sold
• There is 3.10 months inventory on the market
• 498 homes sold in August 2011 - this is 89 less than in August 2010
• The most popular price range was $200,000-$299,999
• The median sold price was $277,500, compared to $265,000 in August 2010
• Financing Terms:  Conventional – 156, FHA – 143, VA – 116, Cash – 74, Other – 9

Caroline County

• 95 days on market – this is 2 more than August 2010 
• Sellers received, on average, 88.7% of their list price when the home sold
• There is 5.78 months inventory on the market
• 33 homes sold in August 2011 - this is 10 more than in August 2010
• The most popular price range was under $100,000-$149,999
• The median sold price was $110,000, compared to $150,000 in August 2010
• Financing Terms:  Conventional – 7, FHA –11, VA – 3, Cash – 7

All data provided by MRIS.

Fredericksburg City:

• 89 days on market – this is 26 days less than in April 2010
• Sellers received, on average, 91.3% of their list price when the home sold
• There is 5.12 months of inventory on the market
• 25 homes sold in April 2011 – this is 6 more in April 2010
• The most popular price range was $50,000-$99,999.
• The median sold price was $205,000, compared to $218,000 in April 2010.
• Financing Terms:  Conventional – 7, FHA – 5, VA – 1, Cash – 12

Orange County

• 151 days on market – this is 9 days less than in April 2010
• Sellers received, on average, 87.6% of their list price when the home sold
• There is 9.55 months of inventory on the market
• 33 homes sold in April 2011 – this is the same as April 2010
• The most popular price ranges were $150,000-$199,999.
• The median sold price was $159,000, compared to $175,000 in April 2010 
• Financing Terms:  Conventional – 9, FHA – 9, VA –9, Cash –8, Other – 3, Seller Financing – 1

Spotsylvania County

• 101 days on market – this is 37 more than April 2010
• Sellers received, on average, 91% of their list price when the home sold
• There is 4.84 months inventory on the market
• 146 homes sold in April 2011 – this is 20 less than in April 2010 
• The most popular price range was $100,000-$149,999
• The median sold price was $169,250, compared to $189,105 in April 2010 
• Financing Terms:  Conventional – 28, FHA – 48, VA – 33, Cash – 30, Other – 7

Stafford County

• 85 days on market – this is 11 more than April 2010
• Sellers received, on average, 93.3% of their list price when the home sold
• There is 4.28 months inventory on the market
• 136 homes sold in April 2011 - this is 37 less than in April 2010 
• The most popular price range was $200,000-$299,999
• The median sold price was $224,950, compared to $237,500 in April 2010 
• Financing Terms:  Conventional – 21, FHA – 30, VA – 64, Cash – 20, Other – 1

Prince William County

• 54 days on market – this is 14 more than April 2010 
• Sellers received, on average, 96.9% of their list price when the home sold
• There is 3.19 months inventory on the market
• 473 homes sold in April 2011 - this is 224 less than in April 2010
• The most popular price range was $200,000-$299,999
• The median sold price was $250,000, compared to $242,300 in April 2010
• Financing Terms:  Conventional – 134, FHA – 163, VA – 99, Cash – 66, Other – 11

Caroline County

• 141 days on market – this is 86 more than April 2010 
• Sellers received, on average, 81.6% of their list price when the home sold
• There is 8.45 months inventory on the market
• 29 homes sold in April 2011 - this is 3 less than in April 2010
• The most popular price range was under $50,000-$99,999
• The median sold price was $106,100, compared to $180,638 in April 2010
• Financing Terms:  Conventional – 3, FHA –12, VA – 2, Cash – 10, Other – 2

All data provided by MRIS.

Fredericksburg City:

• 47 days on market – this is 103 days less than in February 2010
• Sellers received, on average, 87.8% of their list price when the home sold
• There is 9.54 months of inventory on the market
• 13 homes sold in February 2011 – this is 1 more in February 2010
• The most popular price range was $50,000-$149,999 and $200,000-$299,999.
• The median sold price was $155,000, compared to $217,450 in February 2010.
• Financing Terms:  Conventional – 3, FHA – 2, VA – 1, Cash – 7

Orange County

• 122 days on market – this is 48 days less than in February 2010
• Sellers received, on average, 92.9% of their list price when the home sold
• There is 11.04 months of inventory on the market
• 23 homes sold in February 2011 – this is 4 more than February 2010
• The most popular price ranges were $150,000-$199,999.
• The median sold price was $110,000, compared to $156,300 in February 2010 
• Financing Terms:  Conventional – 1, FHA – 3, VA – 1, Cash – 10, Other – 4

Spotsylvania County

• 78 days on market – this is 12 more than February 2010
• Sellers received, on average, 91.5% of their list price when the home sold
• There is 6.85 months inventory on the market
• 101 homes sold in February 2011 – this is 9 less than in February 2010 
• The most popular price range was $100,000-$149,999
• The median sold price was $165,150, compared to $175,000 in February 2010 
• Financing Terms:  Conventional – 20, FHA – 35, VA – 18, Cash – 24, Other – 3, Seller Financing – 1

Stafford County

• 84 days on market – this is 21 more than February 2010
• Sellers received, on average, 89.8% of their list price when the home sold
• There is 4.48 months inventory on the market
• 119 homes sold in February 2011 - this is 22 more than in February 2010 
• The most popular price range was $200,000-$299,999
• The median sold price was $191,000, compared to $235,000 in February 2010 
• Financing Terms:  Conventional – 23, FHA – 30, VA – 36, Cash – 28

Prince William County

• 59 days on market – this is 17 more than February 2010 
• Sellers received, on average, 96.9% of their list price when the home sold
• There is 3.6 months inventory on the market
• 358 homes sold in February 2011 - this is 61 less than in February 2010
• The most popular price range was $200,000-$299,999
• The median sold price was $228,925, compared to $227,000 in February 2010
• Financing Terms:  Conventional – 104, FHA – 131, VA – 49, Cash – 65, Other – 9

Caroline County

• 121 days on market – this is 38 more than February 2010 
• Sellers received, on average, 87.2% of their list price when the home sold
• There is 13.58 months inventory on the market
• 19 homes sold in February 2011 - this is 7 less than in February 2010
• The most popular price range was under $50,000-$99,999
• The median sold price was $110,000, compared to $156,300 in February 2010
• Financing Terms:  Conventional – 1, FHA –3, VA – 1, Cash – 10, Other – 4

All data provided by MRIS.

Fredericksburg City:

• 122 days on market – this is 27 days more than in April 2009
• Sellers received, on average, 81.77% of their list price when the home sold
• There is 9.27 months of inventory on the market
• 18 homes sold in April 2010 – this is 5 more than in April 2009
• The most popular price range was $200,000-$249,999.   
• The median sold price was $222,000, compared to $210,000 in April 2009
• Financing Terms:  Conventional – 9, FHA – 3, Cash – 6

Orange County

• 165 days on market – this is 25 days less than in April 2009
• Sellers received, on average, 88.66% of their list price when the home sold
• There is 12.16 months of inventory on the market
• 31 homes sold in April 2010 – this is 12 more than April 2009
• The most popular price ranges were $180,000-$199,999 and $300,000-$399,999.
• The median sold price was $175,000, compared to $195,000 in April 2009 
• Financing Terms:  Conventional – 12, FHA – 10, VA – 3, Assumption – 2, Cash – 4

Spotsylvania County

• 66 days on market – this is 25 less than April 2009
• Sellers received, on average, 93.60% of their list price when the home sold
• There is 6.42 months inventory on the market
• 146 homes sold in April 2010 – this is 9 less than in April 2009 
• The most popular price range was $200,000-$249,999
• The median sold price was $191,750, compared to $174,900 in April 2009 
• Financing Terms:  Conventional – 26, FHA – 59, VA – 26, Cash – 26, Assumption – 4, Other – 5

Stafford County

• 78 days on market – this is 35 less than April 2009
• Sellers received, on average, 92.70% of their list price when the home sold
• There is 6.16 months inventory on the market
• 144 homes sold in April 2010 - this is 15 more than in April 2009 
• The most popular price range was $300,000-$399,999
• The median sold price was $240,975, compared to $219,900 in April 2009 
• Financing Terms:  Conventional – 27, FHA – 51, VA – 42, Cash – 14, Assumption – 10

Prince William County

• 40 days on market – this is 47 less than April 2009 
• Sellers received, on average, 96.90% of their list price when the home sold
• There is 4.35 months inventory on the market
• 708 homes sold in April 2010 - this is 137 less than in April 2009
• The most popular price range was $200,000-$249,999
• The median sold price was $235,000, compared to $168,000 in April 2009
• Financing Terms:  Conventional – 155, FHA – 321, VA – 104, Assumption – 17, Cash – 105, Other – 5, Seller Financing – 1

All data provided by MRIS.

Fredericksburg City:

• 166 days on market – this is 22 days less than in October 2008
• Sellers received, on average, 86.66% of their list price when the home sold
• There is 11.5 months of inventory on the market
• 14 homes sold in October 2009 – this is 3 less than in October 2008
• The most popular price range was $250,000-$299,999.   
• The median sold price was $222,500, compared to $242,500 in October 2008
• Financing Terms:  Conventional – 2, FHA – 5, VA – 1, Cash – 4, Other – 1

Orange County

• 121 days on market – this is 56 days less than in October 2008
• Sellers received, on average, 82.08% of their list price when the home sold
• There is 10.42 months of inventory on the market
• 38 homes sold in October 2009 – this is 12 more than in October 2008
• The most popular price ranges were $140,000-$159,999, $160,000-$179,999, and $200,000-$249,999
• The median sold price was $161,500, compared to $199,500 in October 2008 
• Financing Terms:  Conventional – 9, FHA – 14, VA – 5, Assumption – 1, Cash – 7, Other – 2

Spotsylvania County

• 66 days on market – this is 32 less than October 2008 
• Sellers received, on average, 92.36% of their list price when the home sold
• There is 6.19 months inventory on the market
• 139 homes sold in October 2009 – this is 9 more than in October 2008 
• The most popular price range was $200,000-$249,999
• The median sold price was $190,000, compared to $226,375 in October 2008 
• Financing Terms:  Conventional – 28, FHA – 48, VA – 24, Cash – 19, Other Financing – 4

Stafford County

• 54 days on market – this is 72 less than October 2008 
• Sellers received, on average, 94.53% of their list price when the home sold
• There is 6.17 months inventory on the market
• 127 homes sold in October 2009 - this is 10 more than in October 2008 
• The most popular price range was $200,000-$249,999
• The median sold price was $220,000, compared to $234,900 in October 2008 
• Financing Terms:  Conventional – 31, FHA – 45, VA – 31, Cash – 14, Other – 1

Prince William County

• 46 days on market – this is 68 less than October 2008 
• Sellers received, on average, 96.95% of their list price when the home sold
• There is 3.98 months inventory on the market
• 714 homes sold in October 2009 - this is 305 less than in October 2008
• The most popular price range was $300,000-$399,999
• The median sold price was $205,000, compared to $189,900 in October 2008
• Financing Terms:  Conventional – 180, FHA – 299, VA – 95, Assumption – 29, Cash – 107, Other – 4

Statistics provided and calculated using data supplied by MRIS.

Fredericksburg City:

• 133 days on market – this is 40 days more than in September 2008
• Sellers received, on average, 84.67% of their list price when the home sold
• There is 8.89 months of inventory on the market
• 19 homes sold in September 2009 – this is 8 more than in September 2008
• The most popular price range was $250,000-$299,999.   
• The median sold price was $250,000, compared to $258,000 in September 2008
• Financing Terms:  Conventional – 13, FHA – 1, VA – 1, Assumption – 1, Cash – 3

Orange County

• 114 days on market – this is 60 days less than in September 2008
• Sellers received, on average, 88.92% of their list price when the home sold
• There is 13.09 months of inventory on the market
• 32 homes sold in September 2009 – this is 2 more than in September 2008
• The most popular price ranges were $140,000-$159,999
• The median sold price was $159,000, compared to $213,450 in September 2008 
• Financing Terms:  Conventional – 7, FHA – 10, VA – 4, Assumption – 2, Cash – 7, Other – 2

Spotsylvania County

• 83 days on market – this is 40 less than September 2008 
• Sellers received, on average, 93.24% of their list price when the home sold
• There is 6.42 months inventory on the market
• 140 homes sold in September 2009 – this is 21 less than in September 2008 
• The most popular price range was $200,000-$249,999
• The median sold price was $193,500, compared to $225,000 in September 2008 
• Financing Terms:  Conventional – 38, FHA – 45, VA – 20, Assumption – 10, Cash – 26, Other Financing – 1

Stafford County

• 57 days on market – this is 59 less than September 2008 
• Sellers received, on average, 95.22% of their list price when the home sold
• There is 5.50 months inventory on the market
• 145 homes sold in September 2009 - this is 4 less than in September 2008 
• The most popular price range was $200,000-$249,999
• The median sold price was $220,000, compared to $250,000 in September 2008 
• Financing Terms:  Conventional – 37, FHA – 49, VA – 43, Assumption – 2, Other – 1, Cash – 13

Prince William County

• 50 days on market – this is 59 less than September 2008 
• Sellers received, on average, 96.15% of their list price when the home sold
• There is 4.31 months inventory on the market
• 683 homes sold in September 2009 - this is 433 less than in September 2008
• The most popular price range was $300,000-$399,999
• The median sold price was $205,000, compared to $189,900 in September 2008
• Financing Terms:  Conventional – 165, FHA – 260, VA – 106, Assumption – 24, Cash – 121, Other – 6, Seller Financing – 1

Statistics provided and calculated using data supplied by MRIS.

Fredericksburg City:

• 114 days on market – this is 6 days more than in August 2008
• Sellers received, on average, 92.0% of their list price when the home sold
• There is 12.77 months of inventory on the market
• 13 homes sold in July 2009 – this is 1 less than in August 2008
• The most popular price range was $300,000-$349,999.   
• The median sold price was $230,000, compared to $306,200 in August 2008
• Financing Terms:  Conventional – 3, FHA – 2, VA – 4, Assumption – 1, Cash – 3

Orange County

• 132 days on market – this is 26 days less than in August 2008
• Sellers received, on average, 87.81% of their list price when the home sold
• There is 10.05 months of inventory on the market
• 42 homes sold in August 2009 – this is 11 more than in August 2008
• The most popular price ranges were $200,000-$249,999
• The median sold price was $171,,250, compared to $215,000 in August 2008 
• Financing Terms:  Conventional – 9, FHA – 14, VA – 4, Assumption – 2, Cash – 12, Other – 1

Spotsylvania County

• 75 days on market – this is 42 less than August 2008 
• Sellers received, on average, 94.64% of their list price when the home sold
• There is 6.43 months inventory on the market
• 146 homes sold in August 2009 – this is 9 less than in August 2008 
• The most popular price range was $250,000-$299,999
• The median sold price was $190,500, compared to $241,900 in August 2008 
• Financing Terms:  Conventional – 32, FHA – 64, VA – 25, Assumption – 5, Cash – 20

Stafford County

• 79 days on market – this is 28 less than August 2008 
• Sellers received, on average, 93.93% of their list price when the home sold
• There is 4.76 months inventory on the market
• 165 homes sold in August 2009 - this is 22 more than in August 2008 
• The most popular price range was $300,000-$399,999
• The median sold price was $220,000, compared to $264,894 in August 2008 
• Financing Terms:  Conventional – 28, FHA – 58, VA – 50, Assumption – 6, Other – 2, Cash – 21

Prince William County

• 60 days on market – this is 51 less than August 2008 
• Sellers received, on average, 96.14% of their list price when the home sold
• There is 3.92 months inventory on the market
• 758 homes sold in August 2009 - this is 242 less than in August 2008
• The most popular price range was $300,000-$399,999
• The median sold price was $215,000, compared to $205,600 in August 2008
• Financing Terms:  Conventional – 185, FHA – 291, VA – 114, Assumption – 21, Cash – 140, Other – 7

Statistics provided and calculated using data supplied by MRIS.

Well, at first glance the June 2009 market statistics appear to be telling a story that we have dreamed of hearing for the past 2 years!  But, hold the presses, the market may not be what it seems.  True, sellers are selling their homes at closer to list price than last year (Fredericksburg area – 89.89% in 2008 compared to 90.27% in 2009).  But, prices are also down, median and average.  This year’s median sold price in June (for the Fredericksburg area) was $205,000 compared to $276,500 in 2008.  We also have less inventory this year than we did in 2008.  In June 2008 (Fredericksburg area) there were 3673 listings  compared to 2465 in June 2009.  This all leads us back to one of my favorite real estate topics, the law of supply and demand.  When supply and demand concepts are coupled with the incentives that first time home buyers are receiving this year, you get what looks to be an improving market.  Many of the buyers who were sitting the fence last year have decided that the time to buy is now.  Prices are low, interest rates are volatile but low, and there is still a good selection of homes on the market.  However, this selection is dwindling and no one can say what will happen to the amount if inventory in the next few months.  I can also say with confidence that more homes are selling, and selling quicker, because more homes are priced appropriately from the beginning of the listing.  Sellers, REALTORS(R) and banks, are evaluating the market overall before deciding list price.   More attractive list prices increase a seller’s chance for multiple showings and multiple offers, and possibly even escalation clauses (gasp!).  All of this looks to be steering us back in the direction of a healthy market and even a seller’s market.

But again, looks can be deceiving.  The foreclosure and short sale market are not going away any time soon.  In fact, REALTORS(R) have been waiting for months for the next wave of foreclosures to flood the market.  No one can give a straight answer as to why banks are holding these homes back, but they are.  If the banks do not release these REOs in a sensible manner then we are in for another round of dropping prices.  Brace yourself now.  The last predatory lending loans were issued in 2007.  Let’s say the average loan was for a 5 year ARM.  We still have at least 3 more years, more like 5, before the real estate industry can start to clear out some of the fog that has been draped over us the last 2 years.  The first-time home buyer incentives have been a driving force behind many markets, but they are due to expire in December.    Eliminating the incentives will be devastating to many markets.  Many industry professionals feel that Congress will continue the incentives, but we shouldn’t count our chickens before they hatch.  Oh, while we are on the subject of Congress, has anyone read the American Clean Energy and Security Act of 2009?  Yeah, could Congress possibly pass any other law that would single-handily prevent the sale of most homes in America?  (We’ll return to this topic in a future post).  And last, but definitely not least, the new HVCC appraisal rules that are wreaking havoc with real estate deals across the country.  (Again, we’ll revisit this delightful topic in a future post.  I need to calm down before I write it). 

So, have we recovered yet?  Ummm… no.  A resounding no.  We still have a long road ahead of us.  The truth is, no one can say for sure where this market is headed.  If they say they can, they are lying.  There are so many variables that go into creating a stable and/or strong market.  The market will eventually cycle again; it always does.  The length of time it takes for the cycle to occur depends on how many “experts” are poking at it.  Right now there are thousands of “experts” running around with very sharp sticks.  Lord help us all!

Fredericksburg City:

• 106 days on market – this is 27 days less than in June 2008
• Sellers received, on average, 86.36% of their list price when the home sold
• There is 5.83 months of inventory on the market
• 29 homes sold in June 2009 – this is 15 more than in June 2008
• The most popular price range was under $100,000.   
• The median sold price was $259,900, compared to $319,000 in June 2008
• Financing Terms:  Conventional – 5, FHA – 7, VA – 6, Assumption – 2, Cash – 9

Orange County

• 150 days on market – this is 78 days less than in June 2008
• Sellers received, on average, 89.53% of their list price when the home sold
• There is 12.94 months of inventory on the market
• 34 homes sold in June 2009 – this is 14 more than in June 2008
• The most popular price ranges were $200,000-$249,999
• The median sold price was $212,500, compared to $226,000 in June 2008 
• Financing Terms:  Conventional – 9, FHA – 10, VA – 3, Assumption – 5, Cash – 5, Seller Financing – 1, Other – 1

Spotsylvania County

• 115 days on market – this is 23 less than June 2008 
• Sellers received, on average, 89.15% of their list price when the home sold
• There is 4.89 months inventory on the market
• 190 homes sold in June 2009 – this is 40 more than in June 2008 
• The most popular price range was $200,000-$249,999
• The median sold price was $196,500, compared to $262,450 in June 2008 
• Financing Terms:  Conventional – 42, FHA – 79, VA – 38, Assumption – 10, Cash – 20, Other – 1

Stafford County

• 93 days on market – this is 17 less than June 2008 
• Sellers received, on average, 92.05% of their list price when the home sold
• There is 4.36 months inventory on the market
• 186 homes sold in June 2009 - this is 33 more than in June 2008 
• The most popular price range was $300,000-$399,999
• The median sold price was $237,450, compared to $278,900 in June 2008 
• Financing Terms:  Conventional – 33, FHA – 60, VA – 67, Assumption – 6, Cash – 20

Prince William County

• 78 days on market – this is 44 less than June 2008 
• Sellers received, on average, 93.15% of their list price when the home sold
• There is 3.97 months inventory on the market
• 795 homes sold in June 2009 - this is 181 less more than in June 2008
• The most popular price range was $300,000-$399,999
• The median sold price was $195,000, compared to $232,250 in June 2008
• Financing Terms:  Conventional – 196, FHA – 295, VA – 123, Assumption – 32, Cash – 139, Other – 10

Statistics provided and calculated using data supplied by MRIS.