Focus On: Powhatan County, Virginia July, 2010

Including:

Units Sold Active Inventory Median Sale Price Days On Market

13 326 $242,000 110
35  370  400,000  160 
30  350  140 
350,000 
25  330  120 
20  300,000 
310  100 
15  250,000 
290  80 
10 
270  200,000  60 
5 
‐ 250  150,000  40 

J‐08 O‐08 F‐09 J‐09 O‐09 F‐10 J‐10 J‐08 O‐08 F‐09 J‐09 O‐09 F‐10 J‐10 J‐08 O‐08 F‐09 J‐09 O‐09 F‐10 J‐10 J‐08 O‐08 F‐09 J‐09 O‐09 F‐10 J‐10

Down -46% Down -4% Up 11% Up 9%

Vs. Ye ar Ago Vs. Ye ar Ago Vs. Ye ar Ago Vs. Ye ar Ago

Units Sold*
35 Sold Detached Sold Attached Sold Condo/ Coop

30 Units Sold
The re was a de c re ase in total units sold in July, with 13 sold
25
this month in Powhatan County ve rsus 28 last month, a
20
de c re ase of 54%. This month's total units sold was lowe r than
15 at this time last ye ar, a de c re ase of 46% ve rsus July, 2009.
10 The c urre nt month's total is lowe r than the twe lve month
ave rage of 20.
5

Active Inventory*
Active Detached Active Attached Active Condo/ Coop
400
350
300

Active Inventory 250

Ve rsus last ye ar, the total numbe r of home s available this 200

month is lowe r by 12 units or 4%. The total numbe r of ac tive 150

inve ntory this July was 326 c ompare d to 338 in July, 2009. 100
This month's total of 326 is lowe r than the pre vious month's 50
total supply of available inve ntory of 334, a de c re ase of 2%. -

Median Sale Price

300,000

250,000 Median Sale Price

Jul-10 Last July, the me dian sale pric e in Powhatan County was
200,000 $217,500. This July, the me dian sale pric e was $242,000, an
Jul-09 $242,000
150,000
$217,500 inc re ase of 11% or $24,500 c ompare d to last ye ar. The
c urre nt me dian sold pric e is 24% lowe r than in June .
100,000

Median sale price is the middle sale price in a given month. The same
50,000 number of properties are above & below the median.

*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one
of Long & Foster’s knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by CVR and its member Association(s) of REALTORS, who are not responsible for
its accuracy. Does not reflect all activity in the marketplace. “Information contained in this report is deemed reliable but not guaranteed,
should be independently verified, and does not constitute an opinion of CVR or Long & Foster Real Estate, Inc.."
Focus On: Powhatan County, Virginia July, 2010
Including:

New Listings Current Contracts Sold Vs. List Price Months of Supply
68 19 94.7% 25.1
100  35  100% 60 
90  30 
98% 50 
80  25 
40 
70  20  96%
30 
60  15  94%
50  10  20 
40  5  92% 10 
30  ‐ 90% ‐

J‐08 O‐08 F‐09 J‐09 O‐09 F‐10 J‐10 J‐08 O‐08 F‐09 J‐09 O‐09 F‐10 J‐10 Jun‐08 Dec‐08 Jun‐09 Dec‐09 Jun‐10 Jun‐08 Dec‐08 Jun‐09 Dec‐09 Jun‐10

Down -8% Down -32% Down -1.7% Up 78%

Vs. Ye ar Ago Vs. Ye ar Ago Vs. Ye ar Ago Vs. Ye ar Ago

Months Of Supply
Months Of Supply
54.2

60

50 In July, the re was 25.1 months of supply available in Powhatan

County, c ompare d to 14.1 in July, 2009. That is an inc re ase of
40
30.8
30.5

78% ve rsus a ye ar ago.

25.1

25.1

30
19.3

19.2

17.3
17.3
17.0
16.0

15.6
15.3
15.3

15.1
14.8

14.2
14.1
14.0

13.1
12.2

11.9
11.8
11.8
11.7

11.2

20
Months of supply is calculated by dividing current inventory by current
10 sales. It indicates how many months would be needed to sell all of the
inventory available at the current rate of demand.
-

New Listings & Current Contracts

Number of New Listings Total Pending
100
90

New Listings & Current Contracts 80

70
This month the re we re 68 home s ne wly liste d for sale in 60
Powhatan County c ompare d to 74 in July, 2009, a de c re ase of 50
8%. The re we re 19 c urre nt c ontrac ts pe nding sale this July 40
30
c ompare d to 28 a ye ar ago. The numbe r of c urre nt c ontrac ts 20
is 58% highe r than last month. 10
-

Sale Price/ List Price & DOM

Avg Sale / Avg List Average DOM
100% 160
98% 140 Sale Price to List Price Ratio
120
96% In July, the ave rage sale pric e in Powhatan County was 94.7%
100
94% pe rc e nt of the ave rage list pric e , whic h is 1.7% lowe r than at
80
92% this time last ye ar.
60
90% 40
88% 20 Days On Market
86% - This month, the ave rage numbe r of days on marke t was 110,
highe r than the ave rage last ye ar, whic h was 101, an inc re ase
of 9%.

*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one
of Long & Foster’s knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by CVR and its member Association(s) of REALTORS, who are not responsible for
its accuracy. Does not reflect all activity in the marketplace. “Information contained in this report is deemed reliable but not guaranteed,
should be independently verified, and does not constitute an opinion of CVR or Long & Foster Real Estate, Inc.."