Have We Hit Bottom Yet?

With the market conditions of the last year or so, we have been carefully monitoring the statistics with that ever hopeful eye that we will be able to see the light at the end of the tunnel. The numbers are showing some positive signs. Is it just the usual uptick of the spring market or is it the turn we have all been waiting for?

The charts below use the absorption rate model calculations --- that is, there are only a certain number of properties that will sell in any market in any given period of time. A six month market supply is considered equilibrium or a balanced market. Under six months, it is a seller's market and over six months it is a buyer's market. While it is still a buyer's market, the sales are picking up and driving the monthly inventory down.

Central Virginia Home Sales with 10-21 acres

Central Virginia Home Sales with 22-49 acres

Central Virginia Home Sales with over 50 acres

All information in this newsletter is deemed accurate but not guaranteed.

Have We Hit Bottom Yet?

Central Virginia Home Sales with 10-21 acres

Central Virginia Home Sales with 22-49 acres

Central Virginia Home Sales with over 50 acres

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