Williamsburg Va Real Estate New Listings and Months Supply of Inventory.
In Williamsburg Va.,new home listings for the month of August yielded 273 available resale dwellings. This was a decline of 4.55% or 13 units in comparison to August 2012. The total housing inventory at the end of August dipped by 4.37% to 2,122 exising homes available for sale. At an average of 167 closed sales per month over the last 12 months (September 2012 - August 2013), this represented an unsold inventory index of 12.70 MSI (Months Supply of inventory), for this market segement.
Pending sales (homes that are under contract and heading to the closing table) for August are down by 22.22% to 133 versus August of last year at 171 that went under contract. With 273 newly listed homes this month and 133 under contract, the sales success index of 48.72% for August decreased 18.52% versus last year's index of 59.79% in 2012.
There was good news at the negotiating table for Williamsburg Va Home Sellers', according to the August 2013 statistics, our Williamsburg Va. market experinced some upward momentum with the increase of average prices at closing. Prices increased 11.77% to $329,484 versus the previous year August at $294,795, repesenting a difference on price of $34,689.
So at the end of day what am I saying? Well to put it simple, if you are considering buying a home, you need to do so sooner versus later because it appears that homes prices are heading in one directions, which is upward.
I will update you on the September numbers for Real Estate In Williamsburg Va. once the month has finished. Remember, I'm only an email, phone or text away.
