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 | Absorption Rate > 6 = Buyer's Market < 5 = Seller's Market | Avg Days On Market |
|
|---|---|---|---|---|---|---|---|---|
| January, 2017 | ||||||||
| February, 2017 | 18 | 12 | 41 | $230,600 | $118,896 | 96.67% | 4.4 | 36 |
| March, 2017 | 17 | 14 | 36 | $240,041 | $117,017 | 96.46% | 5.16 | 39 |
| April, 2017 | 17 | 14 | 39 | $234,571 | $121,865 | 96.04% | 4.8 | 41 |
| May, 2017 | 17 | 12 | 37 | $235,535 | $126,395 | 96.22% | 4.68 | 34 |
| June, 2017 | 19 | 14 | 33 | $233,349 | $136,709 | 100.12% | 6 | 45 |
| July, 2017 | 20 | 8 | 40 | $221,272 | $165,326 | 100.21% | 4.2 | 35 |
| August, 2017 | 23 | 10 | 39 | $210,300 | $166,773 | 100.01% | 5.0 | 30 |
| September, 2017 | 27 | 9 | 38 | $211,319 | $169,619 | 100.26% | 5,7 | 28 |
| October, 2017 | ||||||||
| November, 2017 | 26 | 9 | 33 | $188,758 | $186.115 | 100.64% | 6.3 | 28 |
| December, 2017 | 20 | 12 | 28 | $177,255 | $155,666 | 97.35% | 6.8 | 26 |
