What is the percentage increase in home prices from July 2012?

Asked by kumar042119, Chantilly, VA Sat Jun 1, 2013

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Alan Kroll, Agent, Chantilly, VA
Sat Jun 1, 2013

The average SOLD price in Chantilly/South Riding 20152 zip code is down .39% over the last 12 months.

The average SOLD price in Ashburn 20147 zip code is up 12.6% over that same period.

I find that quite contrary to what should be occurring since inventory is low, days on market average 29 days, and homes are selling on average for 100.28 percent of list price.

Most homes in South Riding go on the market at a 'fast sale' price rather than being priced to move up with the market. Prices are not rising as much as they should be given the inventory shortage and low interest rates.

I own the RE/MAX North Star office in South Riding. If you have any questions please call me at the office at 703-348-9807 or visit my web site at http://AlanKroll.com.

If you would like a market analysis of your home visit http://HighSalesPrice.com


Web Reference:  http://AlanKroll.com
0 votes
Kumar, my IPad auto correct feature changed you name to Lunar. Didn't see that before I hit send. Sorry about that. Alan
Flag Sat Jun 1, 2013
Anil Khanna…, Agent, CHANTILLY, VA
Sat Jun 1, 2013
That is a tough question. It depends on area in which you are referring to and type of home. Feel free to call me to discuss as I am a local Chantilly agent at 703-625-6731.
0 votes
Don Stewart, Agent, McLean, VA
Sat Jun 1, 2013
There is no universal percentage that can be applied to all properties. Different areas, house types, and price ranges all come into play. If you don't already have an agent representing you I would be happy to get together with you and discuss specifics. Feel free to give me a call.

Don Stewart
Realty Direct LLC
0 votes
Chris Ognek, Agent, Fredericksburg, VA
Sat Jun 1, 2013
That is a good question and I don't have that number right now but the follow up to that would be to know the acceleration of the price increases. I'm seeing prices move up every month as the inventory rapidly draws down with the huge increase in buyers looking for homes. You might want to take a look at the number over a shorter time frame, the last two quarters or last six months for example. Look at the number of homes active and number of homes sold each month to get a good feel for absorption rate and how quickly the inventory is winding down.
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