Average list price of those active  listings was $237,619, and an average days on market of 128.  This showed a higher average than in past months, but the days on market was consistant to that of the past year.

In the residential area, 143 units were sold, totaling $23,908,601.   Realtors and sellers alike were smiling with an average of 119 days on market-less than 4 months.  The average list price was recorded at $174,388,  while the average sold price was recorded at $167,193.   And, the question most asked by those buyers that do their homework, what is the percentage of list price to sales price?  Still holding strong at 95.87%!

According to the Virginia Association of Realtors, the statewide housing market saw a 5.2% increase in sales during the first quarter of 2010 over the first quarter of 2009. AND, the median sales price went from $139,800 to $149,326—a 7% increase!

Residential home sales for the month was reported with 97 closed units, for a total volume of $15,932,492.  The average list price of those closed units was $172,221, down from January, and the sales price average was $164,252, also down from the January reporting period.

Days on market again held steady at 128 with the list to sale price ratio rising to 95.37%.

Residential home sales were up with 85 transactions closing with a volume of $15,227,405.  The average list price of those reported closed within the month was $191,276, and the average sales price was $179,146.  It was good to see the lower days on market at 129 and the average list to sales price ratio remained steady at 93.66%.

The Va. Home Sales Report showed that the total sales for the 4th quarter of 2009 were up 28.3% over that of the same quarter of 2008.  Sales totalled 449 with only 350 in 2008.  The market did have an impact over the average sales price with a .9% decrease- average sales price of $144,255 for the 4th quarter of 2009, and $145,605 for the same in 2008.

Overall sales for 2009 did show a decrease of 8.8%, 1871 units for 2009 under the total of 2051 for 2008.  The average sales price decreased more to 2.1% with an average of $148,274 for 2009, and $151,505 for 2008.

How do you see the market?  Did the economy affect your value?

If you are interested in keeping up to date on all issues regarding home ownership in Virginia, you are invited to join the Va. Homeowner Alliance.  I will be glad to assist you in joining by contacting me today.

2009:

Residential Homes Sold-  350

Total Sales Volume-  $26,510,058

2008:

Residential Homes Sold-  345

Total Sales Volume- $22,964,188 

Even though the increase may be slight, it does show a more active market than last year. 

September Report:

New Home Listings- 161

Average Selling Price-  $164,658

Average Days on Market- 149

Average List to Sales Price Ratio- 95%

August, 2009:

553   New Properties were placed on the market

$ 178,364    Average Sales Price                         176    Average Days on Market-Sales

             $ 143,969                        Amherst Co.                181                                     

            $  263,261                        Bedford Co.                  186

            $  180,712                       Campbell Co.                135

            $  160,889                       Lynchburg                    129 

95%     List Price/Sales Price Ratio

1928  Total Residential Properties on Market

  153  Average Days on Market for Total Residential Properties

FHA lenders can offer a bridge loan product that enables you to utilize the benefit of the tax credit upfront and use it for closing fees, interest rate buydowns or more than the required 3.5% down payment. A buyer must have the minimum 3.5% down payment verified.

To obtain your credit, close on your home by November 30, 2009 and ensure that you are a qualified applicant under the present IRS guidelines, either choosing 2008 with an amended return or your 2009 tax return.

Obtain form 5405 to determine the amount of your credit, and apply to your return.
Its that easy!

Is it a Buyers or Sellers Market? You decide….

According to the Lynchburg Multiple Listing Service, this week has been active with both a strong showing of listings and sales. 

For the Week of August 15, 2009:

Listings: 

Sales:

Average List to Sales Price Ratio:

Average Days On Market:

Currently, there are ____ properties on the market enterd in the Lynchburg MLS.

Home warranties average between $300-400 and cover almost everything. Another advantage to most home warranties is that a seller can apply for the warranty, have coverage on the home while its being marketed and then transfer the warranty to the buyer at settlement.  During the time the home is being marketed, if the warranty is applied for by the seller, any issues that arise can be covered under the warranty for you as well. So, if you heatpump goes out before settlement, you can file a claim with the warranty company and not be out of pocket.

Two good reasons to investigate a home warranty.  It can be a winner for both you and the sale of your home!