more Fauquier Real Estate

So far THIS YEAR, according to our MRIS MLS, there have been 62 closings, 81 contracts and 683 AVAILABLE residential properties to date (as of today, 3/3/08)in all of Fauquier. The AVG LIST price VS. actual AVG SOLD = -4.93%. So prices are down. Here is how the numbers shake out - THIS YEAR the AVG LIST price has been 427,572 and the AVG SOLD price is 399,987 and it took on AVG 180 days to sell (does not include properties that were re-listed like when someone changes agents AND reduceds their price at the same time).

LAST YEAR, this same period, 108 residential SOLD thru the MRIS MLS in all of Fauquier. Here is the breakdown per town: 14 Bealeton; 2 Broad Run; 5 Catlett; 1 Goldvein; 2 Hume; 7 Marshall; 1 Midland; 3 New Baltimore; 1 Rectortown; 4 Remington; 3 The Plains; 65 Warrenton. Lets use Warrenton to sample - The Average List Price was 451,903 and the Average Sold Price was 440,437. A 2.7% difference. And it took 140 days on avg to sell. (does not count props that were re-listed and reduced at the same time)

I cannot tell the data as to how many contracts there were at the same time last year. But it seems to me that having 81 properties that are under contract right now, today, buyers are out there. And they are buying. And they are getting awesome deals. Although it is taking a little more than 5 weeks longer to sell a home, and there is a lot of inventory to choose from. The list price vs avg sold price shows a 4.95% difference and comparing last years %difference to this years % difference, it is -2.7%. Again, those that purchased over 3-4 years ago and that have not tapped out equity should be just fine when selling.

Thanks for reading. Comments left here or e-mails to me myREALTORrichie@mris.com are welcome. Licensed Realtor with Jim Barb Realty Inc. JBR 540-955-4602 or 703-401-7980 cell www.DoRealEstateYourWay.com Licensed in VA and WV.