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market update
CROZET
1 $ 642,419 3,504 0.50 - 1.0 acre 4.0 3.0 4 21 0 0 97 Most expensive 25% of homes
0.25 - 0.50
2 $ 489,000 2,861 acre 4.0 3.0 1 21 0 0 68 Upper-middle 25% of homes
8,001 - 10,000
3 $ 332,400 2,316 sq ft 4.0 3.0 7 22 1 4 116 Lower-middle 25% of homes
0.25 - 0.50
4 $ 199,900 1,424 acre 3.0 2.0 36 22 1 10 71 Least expensive 25% of homes
PRICE
Despite this week's down tic, price
trends have generally been moving up
lately.
QUARTILE PRICES
Often, we find insights by watching
pricing trends within the quartile
segments.
Price weakness is evident across the
board. All four quartiles have been in
price decline in recent weeks. Look to
the Market Action Index as a leading
indicator of the bottom of the market.
INVENTORY
Inventory has been climbing lately.
Note that rising inventory alone does
not signal a weakening market. Look to
the Market Action Index and Days on
Market trends to gauge whether buyer
interest is keeping up with available
supply.
Residential house prices are a function of supply and demand, and market conditions can be MARKET ACTION INDEX
characterized by analyzing those factors. Watch this index for sustained changes: if the index
falls into the Buyer’s Market zone for a long period, prices are likely in for a downward The CROZET market is currently in the
correction. Buyer's Market zone (below 30), though
not strongly so. The 90-day Market
Action Index stands this week at 22 so
buyers should expect find reasonable
levels of selection.
The quartiles can help you answer the question, "How hot is the market for homes in my price
range?"
CROZET
Neighborhood Detail 22932
PRICE
Despite this week's down tic, price
trends in this zip code have generally
been moving up lately. We are below
the market's high point, and we'll
investigate the Market Action Index
later on to see if we expect this week's
blip to become a downward trend.
1 $ 642,419 3,504 0.50 - 1.0 acre 4.0 3.0 4 21 0 0 97 Most expensive 25% of homes
0.25 - 0.50
2 $ 489,000 2,861 acre 4.0 3.0 1 21 0 0 68 Upper-middle 25% of homes
8,001 - 10,000
3 $ 332,400 2,316 sq ft 4.0 3.0 7 22 1 4 116 Lower-middle 25% of homes
0.25 - 0.50
4 $ 199,900 1,424 acre 3.0 2.0 36 22 1 10 71 Least expensive 25% of homes
PRICE AND VALUE
This is a market where watching the
value metrics (like price per square
foot) can provide insight that you don't
get at first glance. Despite the fact that
home prices are rising fairly
consistently, the price per square foot of
homes listed is declining. Often this can
be attributed to new and remodeled
homes on the market. Buyers in the
area are paying more but also getting
more for their money.
INVENTORY
Inventory has been climbing lately with
86 properties available this week. Note
that rising inventory alone does not
signal a weakening market. Look to the
Market Action Index to gauge whether
buyer interest is keeping up with
available supply.
DAYS ON MARKET
The properties have been on the market
for an average of 88 days. Half of the
listings have come newly on the market
in the past 56 or so days. Watch the 90-
day DOM trend for signals of a changing
market.
DAYS ON MARKET