Focus On: Chesterfield County, Virginia July, 2010

Including:

Units Sold Active Inventory Median Sale Price Days On Market

235 2,993 $208,500 80
500  260,000  90 
450  3,400  250,000  85 
400  3,200  240,000 
230,000  80 
350 
3,000 
300  220,000  75 
250  2,800  210,000  70 
200  200,000 
2,600  65 
150  190,000 
100  2,400  180,000  60 

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 -44% Up 4% Down -4% Up 14%

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

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

400 Units Sold

350 The re was a de c re ase in total units sold in July, with 235 sold
300 this month in Che ste rfie ld County ve rsus 454 last month, a
250 de c re ase of 48%. This month's total units sold was lowe r than
200 at this time last ye ar, a de c re ase of 44% ve rsus July, 2009.
150 The c urre nt month's total is lowe r than the twe lve month
100 ave rage of 299.
50
-

Active Inventory*
Active Detached Active Attached Active Condo/ Coop
4,000
3,500
3,000

Active Inventory 2,500

Ve rsus last ye ar, the total numbe r of home s available this 2,000

month is highe r by 111 units or 4%. The total numbe r of 1,500

ac tive inve ntory this July was 2,993 c ompare d to 2,882 in July, 1,000
2009. This month's total of 2,993 is lowe r than the pre vious 500
month's total supply of available inve ntory of 3,040, a -
de c re ase of 2%.

Median Sale Price

240,000

220,000
Median Sale Price
200,000 Jul-09 Last July, the me dian sale pric e in Che ste rfie ld County was
Jul-10
$217,125 $217,125. This July, the me dian sale pric e was $208,500, a
180,000 $208,500
160,000 de c re ase of 4% or $8,625 c ompare d to last ye ar. The c urre nt
140,000
me dian sold pric e is 2% highe r than in June .

120,000
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 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 July, 2010
Including:

New Listings Current Contracts Sold Vs. List Price Months of Supply
805 307 96.7% 12.7
1,200  550  99% 20 
500  99%
1,000  450 
98% 15 
400 
800  98%
350 
97% 10 
600  300 
250  97%
400  200  96% 5 
150  96%
200  100  95% ‐

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

Up 1% Down -21% No Change Up 86%

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

Months Of Supply
Months Of Supply
16.0

18
14.9
14.6

13.6
13.6

16 In July, the re was 12.7 months of supply available in

12.7
12.4

11.9

11.6
11.5

14
11.3

Che ste rfie ld County, c ompare d to 6.9 in July, 2009. That is an

10.4

10.3

12
9.4

9.2
9.2

9.1

inc re ase of 86% ve rsus a ye ar ago.

9.0

8.8
8.2
8.0

8.0

10
7.9
6.9
6.8

6.7

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 Total Pending
1,200

1,000
New Listings & Current Contracts
800
This month the re we re 805 home s ne wly liste d for sale in
Che ste rfie ld County c ompare d to 799 in July, 2009, an 600
inc re ase of 1%. The re we re 307 c urre nt c ontrac ts pe nding 400
sale this July c ompare d to 391 a ye ar ago. The numbe r of
200
c urre nt c ontrac ts is 2% highe r than last month.
-

Sale Price/ List Price & DOM

Avg Sale / Avg List Average DOM
99% 100
99%
98%
90
80
Sale Price to List Price Ratio
98% 70 In July, the ave rage sale pric e in Che ste rfie ld County was
97% 60 96.7% pe rc e nt of the ave rage list pric e , whic h is the same as
97% 50
96% 40
at this time last ye ar.
96% 30
95%
95%
20
10 Days On Market
94% - This month, the ave rage numbe r of days on marke t was 80,
highe r than the ave rage last ye ar, whic h was 70, an inc re ase
of 14%.

*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.."