Prince William and Fauquier Counties See Dramatic Dip in April for Average Days on the Market
In the real estate housing market, a drop in Average Days on the Market means homes are selling faster. Days on Market is calculated from the date from a property first comes on the market (list date) to the time it is taken off the market due to a sale (contract date) or off market condition (off market date).
Right now this decline is primarily due to the limited inventory in recent months of homes in this region—Prince William County and Fauquier County, Virginia. The charts below illustrate activity in both counties. Fauquier County has fluctuated over the past year while Prince William shows a steady trend. However, both see significant drops in April.
Prince William shows Days on Market as 56 days in January, 2013 falling to 35 days in April, 3013. Fauquier County fell from 107 days in January from 69 in April.
However both counties have increased in new listings substantially since January 2013. It will be interesting to see how the statistics develop moving forward. It may mean a shift in favor of buyers.
In Fauquier County there were 98 new listings in January 2013, and just in April, 2013 there were 178. Last year in April 2012, there were 126.
In Prince William County there were 570 new listings in January, and in April there were 944 still higher than April of 2012 which was 845.
Bryan Garcia specializes in helping folks buy and sell real estate in Northern Virginia. His area of expertise is Prince William County — Haymarket, Gainesville, Bristow, Manassas, Warrenton and surrounding communities.
Call Bryan today (703) 753-9100, ext. 103 or email BryanGarcia@exitheritage.com anytime.
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