Williamsburg Home Sales Update Covering Feb 2017 | Williamsburg For Sale | West Clermont
Home Sales In The Williamsburg School District | Williamsburg Township
Things are starting off great with Williamsburg home sales! A tremendous indicator is what is called the Absorption Rate. It is used to not only determine if it is a buyer’s or seller’s market, but how strong of a buyer or seller market it is. For February, home sales in the Williamsburg School District had a rate of 4.4. What does that mean?
A rate of 5 or 6 is considered the range for a balanced market. A higher number is a buyer’s market and a lower number is a seller’s market. At 4.4, that indicates the demand in the market is good, and that prices might slowly climb at a healthy rate.
Of concern is on March 15th (the Ides of March) the Fed raised the lending rate by a quarter of a point and many are expecting a larger increase later in the year. Bottom line, as interest rates rise, buyers are not able to buy as much of a home. Sellers will see fewer buyers and buyers will either have to pay more each month for their dream home or buy a less expensive home to keep their monthly payments the same. A delay in a buying or selling decision could prove costly.
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Williamsburg School District Market Update (Each month is the previous 6 months totals & averages)
|Active Listings||Pending Listings||Sold Listings||Avg Active Price||Avg Sold Price||% of List |
To Sale Price
> 6 = Buyer's Market
< 5 = Seller's Market