Here’s What Happened with Housing in October

First in Caroline…

Closed sales were up in October – for a total of 30! Although Pending sales went down. So in actuality, more home that were pending actually went to closing compared to other recent months.

This means banks were accepting offers and less glitches in getting to closing! That’s fabulous news! With the tightening of lender pre-qual applications and the necessity of sellers (homeowners and banks) to sell, there are a few less vacant homes!

Average sales price was $150,000 with an average of 93 days on the market. And I can tell you, some homes priced under $150K that are move in ready are under contract within days!

Now for Spotsylvania County…

Closed sales in Spotsy actually slipped a bit in October. But 126 sold homes in Spotsylvania is not too shabby! Pending sales also went down. A wider gap between the two, but that’s to be expected when dealing with more homes.

Average sales price was about $220,000 with an average of 65 days on the market.

If you have additional questions about specific communities or need an idea on the average sales price for a specific type of home, feel free to ask!