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Here is an update. So far this year, using our computerized MRIS MLS, there are 68 Residential Properties available in all of Rappahannock. Currently 4 properties are under CONTRACT. 3 have SOLD to date (01/01/2008-03/03/2008). The average list price was 692,667 BUT the AVERAGE SOLD PRICE is 599,000 - which is 12.93% less than it's last asking price. And it took 109 days on AVG to sell.
LAST YEAR this same time frame 10 residential properties had SOLD. The AVG List Price was 476,490 and the AVG Sold Price was 447,500 - which was a 7.17% less than its last asking price.
Numbers are numbers - and they can be interprited in many ways. All we need is 1 big property less this year vs. last year and the numbers are way off. In short, every property is different. Every year is different.
Short term results are not the best (esp. those who just bought their homes) however long term still looks great. Buyers are out there. And they want a deal. Again, price is everything. That and the kitchen counters!
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.
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