Williamsburg Home Sales Update Covering Feb 2017

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?

Williamsburg Home SalesA 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 ListingsPending ListingsSold ListingsAvg Active PriceAvg Sold Price% of List
To Sale Price
Absorption Rate
> 6 = Buyer's Market
< 5 = Seller's Market
Avg Days
On Market
January, 2017
February, 2017181241$230,600$118,89696.67%4.436
March, 2017171436$240,041$117,01796.46%5.1639
April, 2017171439$234,571$121,86596.04%4.841
May, 2017171237$235,535$126,39596.22%4.6834
June, 2017191433$233,349$136,709100.12%645
July, 201720840$221,272$165,326100.21%4.235
August, 2017231039$210,300$166,773100.01%5.030
September, 201727938$211,319$169,619100.26%5,728
October, 2017
November, 201726933$188,758$186.115100.64%6.328
December, 2017201228$177,255$155,66697.35%6.826