December 2, 2012 by Jeff Lowen
Here in the great state of Virginia, at least the Northern end, the real estate market is, well… You be the judge. Is the market Hot? Cold? Stable? Inept? I have my own opinions, but we’ll reserve those for later. For now, here’s what’s happened in the last month!
Properties Sold: 2,242 (13% were distressed*)
Average Sales Per Day: 75
Average Sold Price: $450,965
Average Days on the Market: 48
Interesting Tid-bits: The lowest price home sold was listed at $54,000. The highest, $9,850,000. I know of one home that sold for 178% more than the original asking price! Another had been on the market since Moby Dick was a minnow! 1,648 days before it finally sold! Hmmm, let me calculate… I wonder if Abraham Lincoln went to the first open house!
*Distressed properties are short sales and foreclosures
Go to http://www.JeffLowen.com to see more stats, trends and info!
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