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Current Market Statistics for Rockbridge County VA

October 18, 2008

I hope all are enjoying the beautiful fall weather! It has been an outstanding month for fall color. Usually fall color brings out many buyers & “leaf peepers” unfortunately, this year has been unusually quiet. I’m sure you’ve been following the national & international real estate & general economy so this is not news to you. Even the number of “leaf peepers” is way down. The past 2 weekends I have been on the Blue Ridge Parkway and there has been very little traffic. In years past it has been bumper to bumper with folks out for fall foliage.

I’ve recently advised several of my clients with homes that they wanted to sell but were not in financial difficulty to take them off the market until things settle down.  This is for several reasons but mainly to keep the days on market lower when things to pick back up.

Below are some of the current statistical reports for the year for Residential & Farms in Rockbridge County VA. These reports do not include the cities of Lexington & Buena Vista BUT do include the villages in the county.

Total Active:  8% increase

2007: 517
2008: 557

Days on Market: 17% decrease (note: not sure about accuracy of this number – many homes are on 2nd or 3rd listing before they are sold)

2007: 303
2008: 250

Number Sold:  19% decrease

2007: 124
2008: 101

Sold Volume: 23% decrease

2007: $37,545,584
2008: $28,926,603

Average Sale Price:  5% decrease

2007: $302,786
2008: $289,402

Rate of Sale or Absorption Rate

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7 Comments leave one →
  1. Luke Anderson permalink
    October 19, 2008 4:27 am

    Dear Candy, This is very useful info. Thanks for the great work. I am still interested in the … Farm, even under the news you presented….

  2. Jane Littlejohn permalink
    October 19, 2008 9:06 pm

    Hi Candy,

    What beautiful Fall photos and thanks for the RE info. Right now everyone seems to be holding their collective breaths….but I do believe things will get better after all the politics of the presidential race settle down.

    Its still hard to find a much nicer place to live than Rockbridge County!

    Aloha, Jane Littlejohn

  3. John Kelly permalink
    October 21, 2008 2:27 pm

    Thanks Candy,

    Appreciate your taking time to put these reports together for us. Very
    informative

  4. January 17, 2009 8:21 am

    Generally I do not post on blogs, but I would like to say that this post really forced me to do so, really useful information.

  5. Candy Lynn permalink*
    January 19, 2009 2:52 pm

    John:
    Thank you for visiting & your compliment. I believe market information is vital to making informed decisions.
    Candy

  6. November 21, 2009 2:56 am

    Hey are you a professional journalist? This article is very well written, as compared to most other blogs i saw today…. anyhow thanks for the good read!

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