Prince Willaim County Home Sale Prices Up Again

The average sold price in Prince William County, Virginia was up again for July 2009.

This figure rose from $233,350 in June to $242,524 in July.

Since February of this year, the average home sold price in Prince William County has risen from a low of $204,378 to $242,524. Prices have risen in 4 of 5 of the last months, with current average sold price being within 95% of last year's levels.

Average days on the market continued to shrink from 112 in July 2008, to 62 in July 2009, a 44% reduction. 423 out of the 693 units, were sold in under 30 days.

Out of 2,761 "active listings", 981 were marked "under contract". Of the 693 total units sold, 166 used conventional loans, 251 used FHA, 126 were marked VA, 111 were cash deals, with owner financing, assumptions, and "other" taking up the rest.

The only down side, is that as prices rose, total sold houses leveled off from 866 in July 2008, to 693 this year. A lack of listings and "short sales" were also mentioned as a culprit as well.

Home sale prices in Prince William County, Virginia are expected to rise throughout the rest of the year, as eager first time home buyer's continue to buy, in a race to beat back the November 30, 2009 deadline to take advantage of the First Time Home Buyer's Tax Credit.

Johnny "Culdesac" Yankoviak