Below is a summary of sales activity in June 2010 for the 22508 zip code.  While the market is looking much better in our area, these higher numbers most likely reflect the push to get properties closed before the homebuyers tax credit deadline of July 1. 

Month

Closed Sales

Average List Price

Average Sold Price

Average Days on the Market

May 2010

15

$192,160

$185,613

97

June 2010

28

$282,702

$256,084

102

Difference

+1.87%

+1.47%

1.38%

+1.05%

That date has been extended to September for properties currently under contract.  Many of the contracts were written on short sales and this extension will help those who have been unable to secure third party (sellers’ lender) approval.  We do see an increase of properties placed on the active market.  There is no indication that this rise is due to short sales or foreclosures – out of the 213 active properties, only 44 (21%) are listed as in short sale or being sold due to foreclosure.

As of 7/7/10

Number of Properties

Average List Price

Average Days on the Market

Active

213

$336,152

128

Under Contract

23

$247193

133

 

If you would like more information, clarification, or the statistics for your Virginia zip code or neighborhood, please let me know.  I would be more than happy to help.

See you at the Lake!

Suzanne