- Homes currently for sale: 82
- Closed sales for homes in September 2013: 30
- Average sale price: $298,287
- Average list price: $304,064
- Sales price to list price ratio: 98.1%
- Average days on the market: 26
- Number of sales currently pending: 54
- Woodbridge 22191 Absorption rate for homes: 2.73 months of inventory. A normal, or balanced absorption rate is 5-7 months of inventory. Less than 5 months of inventory is indicative of a seller’s market, while more than 7 months of inventory is indicative of a buyer’s market.
- Woodbridge is located in Prince William County, VA.
Currently Listed Woodbridge 22191 Single Family Homes for Sale
This Woodbridge home market report takes a look at sales of single family, detached homes (not townhouses or condominiums) in Woodbridge, VA 22191. Home sales in this area of Woodbridge are currently experiencing a strong seller’s market, as evidenced by the low level of inventory, which is 2.73 months as of today, November 7th. The average number of days on the market for detached homes in Woodbridge, 22191 was 26 in September, which was significantly lower than the average over the last five years in September, which was 47 days. A lower average number of days on the market often reflects higher demand, but it can also be indicative of more competitive pricing on the part of home sellers.
Another useful piece of data to look at is the contract ratio, which is the number of pending home sales compared to the number of active listings not yet under contract. The contract ratio for home sales in Woodbridge, 22191 in September was 0.72, which represented virtually no change from August of this year and a decrease from September of 2012, when the contract ratio was 1.15. The September 2012 contract ratio was 40% lower than the average contract ratio for home sales in this area of Woodbridge over the past five years in September, which was 1.19. Generally speaking, a lower contract ratio points to a market shift in favor of buyers, while a higher contract ratio points toward market movement toward sellers.
Home sellers in Woodbridge, 22191 are still in a position to benefit from the low inventory. Call me on my cell phone at 703-462-0700 to request a free comparative market analysis. This will give you a good idea of how much your home is worth, and will help you decide if now is a good time to move.
Buyers looking for homes in Woodbridge, 22191 should seek the services of a great buyer agent. I’m an experienced buyer agent who grew up in Northern Virginia and knows this market very well. Contact me so I can find you a great home in Woodbridge!