SUMMARY
The current inventory level for Stone Ridge remained the same at 13 active listings. With 1 new listing to the market and 2 homes receiving contracts this past week, it was an average week in Stone Ridge. The 1 home sold did so on average in only 7 days and netted 101.9% to the list price.
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SUMMARY
The current inventory level for South Riding was increased by 6 to 38 active listings, this is a 20% increase. With 3 new listings , and 10 homes which went under contract contributing to the increase in inventory, there could have been some properties return back to the market which previously were off it. The 10 homes receiving a contracts last week did so with an average 30 days on the market (3 of which were 0 days on the market and 3 others with less than 1 week on the market) while the 3 homes sold and went to record last week did so with an Average DOMP of 55 days netting an average of 101.8%, also this week is all the homes new to the market are traditional sales, not short sales or bank owned properties, this is the second week in a row for this. The town home market still seems to be the most active additionally it looks like where buyers are finding values on detached homes are not hesitating to make offers.
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SUMMARY
The current inventory level for Stone Ridge increased by 2 at 13 active listings this is a 20% increase. With 1 new listing to the market and NO HOMES receiving contracts this past week, it was a slower week in Stone Ridge. The 3 homes sold did so on average in 50 days and netted and average of 101.4% to the list price. I have completed my 2nd Quarter Summary for Stone Ridge a review of sales in the past Quarter.
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SUMMARY
The current inventory level for South Riding was increased by 3 to 32 active listings, this is a 10% increase. With 7 new listings , and 6 homes which went under contract contributing to the increase in inventory, there could have been some properties return back to the market which previously were off it. The 6 homes receiving a contracts last week did so with an average 27 days on the market while the 2 homes sold and went to record last week did so with an Average DOMP of 54 days netting an average of 96.7%, an interesting observation this week is all the homes new to the market are traditional sales, not short sales or bank owned properties. Also the town home market still seems to be the most active especially for town homes listed at $350,000 and under. I have completed my 2nd Quarter Summary for South Riding a review of sales in the past Quarter.
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Summary
In general there are less homes selling in less time, on average by 5 days, comparing the Second Quarter of 2009 to the same time period in 2008. There have been 15 less homes sold in the same period. While the average asking price has decreased by $44,305 and average net sales price has decreased by $37,324, the percent to Asking Price has slightly increased by .4 basis points to 98.1%. Distressed sales have increased in Q2 2009 compared to Q2 2008. It appears sellers are pricing their homes to attract buyers quickly and for close to asking price.
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