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Focus On: Chesterfield County, Virginia March, 2010

Including:

Units Sold Active Inventory Median Sale Price Days On Market


315 3,824 $181,000 76

600  4,500  240,000  100 


500  4,000  220,000 
80 
3,500  200,000 
400 
3,000  180,000  60 
300 
2,500  160,000  40 
200  2,000  140,000 
20 
100  1,500  120,000 
‐ 1,000  100,000  ‐

J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10

Up 1% Up 10% Do wn -2% Do wn -7%


Vs. Ye ar A go Vs. Ye ar A go Vs. Ye ar A go Vs. Ye ar A go

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

450 Units Sold


400
The re was an inc re ase in total units sold in Marc h, with 315
350
sold this m onth in Che ste rfie ld County ve rsus 248 last m onth,
300
an inc re ase of 27%. This m onth's total units sold was highe r
250
200 than at this tim e last ye ar, an inc re ase of 1% ve rsus Marc h,
150 2009. The c urre nt m onth's total is lowe r than the twe lve
100 m onth ave rage of 374.
50
-

Active Inventory*
Active Detached Active Attached Active Condo/ Coop
5,000
4,500
4,000
3,500
Active Inventory 3,000
Ve rsus last ye ar, the total num be r of hom e s available this 2,500
2,000
m onth is highe r by 349 units or 10%. The total num be r of
1,500
ac tive inve ntory this Marc h was 3,824 c om pare d to 3,475 in 1,000
Marc h, 2009. This m onth's total of 3,824 is highe r than the 500
pre vious m onth's total supply of available inve ntory of 3,537, -
an inc re ase of 8%.

Median Sale Price


190,000
180,000
170,000
Mar-09 Mar-10 Median Sale Price
160,000
$185,000 $181,000 Last Marc h, the m e dian sale pric e in Che ste rfie ld County was
150,000 $185,000. This Marc h, the m e dian sale pric e was $181,000, a
140,000 de c re ase of 2% or $4,000 c om pare d to last ye ar. The c urre nt
130,000 m e dian sold pric e is 3% highe r than in Fe bruary.
120,000
110,000
Median sale price is the middle sale price in a given month. The same
100,000 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 Terradatum, 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: Chesterfield County, Virginia March, 2010
Including:

New Lis tings Current Contracts Sold Vs . Lis t Price Months of Supply
1,263 542 97.7% 12.1
1,400  600  99% 20 
1,200  500  98%
1,000  98% 15 
400  97%
800  97%
300  10 
600  96%
400  200  96%
95% 5 
200  100 
95%
‐ ‐ 94% ‐

J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 J‐08 M‐08 S‐08 J‐09 M‐09 S‐09 J‐10 Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10 Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10

Up 23% Up 59% Up 1.1% Up 9%


Vs. Ye ar A go Vs. Ye ar A go Vs. Ye ar A go Vs. Ye ar A go

Months Of Supply
18 Months Of Supply
15.3
14.6
14.5

14.3
13.8

16 In Marc h, the re was 12.1 m onths of supply available in


13.0

12.4

12.2

12.1
11.8

14
11.2

Che ste rfie ld County, c om pare d to 11.2 in Marc h, 2009. That


10.4
10.4

10.1
10.1

12
9.4

is an inc re ase of 9% ve rsus a ye ar ago.


9.2
9.1

9.1
9.0

9.0
8.9

8.7

8.6
8.6

10
7.6
7.5

8
6
Months of supply is calculated by dividing current inventory by current
4
sales. It indicates how many months would be needed to sell all of the
2 inventory available at the current rate of demand.
-

New Listings & Current Contracts


Number of New Listings Current Contracts
1,400
1,200
New Listings & Current Contracts 1,000
This m onth the re we re 1,263 hom e s ne wly liste d for sale in 800
Che ste rfie ld County c om pare d to 1,031 in Marc h, 2009, an
600
inc re ase of 23%. The re we re 542 c urre nt c ontrac ts pe nding
sale this Marc h c om pare d to 340 a ye ar ago. The num be r of 400

c urre nt c ontrac ts is 64% highe r than last m onth. 200


-

Sale Price/ List Price & DOM


Avg Sale / Avg List Average DOM
99% 90
98%
98%
80
70
Sale Price to List Price Ratio
97% 60
In Marc h, the ave rage sale pric e in Che ste rfie ld County was
97% 50 97.7% pe rc e nt of the ave rage list pric e , whic h is 1.1% highe r
96% 40 than at this tim e last ye ar.
96% 30
95% 20
95% 10 Days On Market
94% - This m onth, the ave rage num be r of days on m arke t was 76,
lowe r than the ave rage last ye ar, whic h was 82, a de c re ase of
7%.

*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 Terradatum, 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.."

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