Focus On: Hanover County, Virginia March, 2010

Including:

Units Sold Active Inventory Median Sale Price Days On Market

114 1,110 $233,000 77

200  1,500  340,000  120 

320,000  100 
1,400 
150  300,000  80 
1,300  280,000 
100  60 
1,200  260,000 
40 
50  240,000 
1,100  20 
220,000 
‐ 1,000  200,000  ‐

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 23% Up 0.2% Do wn -15% Do wn -14%

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

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

160 Units Sold

140 The re was an inc re ase in total units sold in Marc h, with 114
120 sold this m onth in Hanove r County ve rsus 57 last m onth, an
100 inc re ase of 100%. This m onth's total units sold was highe r
80 than at this tim e last ye ar, an inc re ase of 23% ve rsus Marc h,
60 2009. The c urre nt m onth's total is highe r than the twe lve
40 m onth ave rage of 110.
20
-

Active Inventory*
Active Detached Active Attached Active Condo/ Coop
1,600
1,400
1,200

Active Inventory 1,000

Ve rsus last ye ar, the total num be r of hom e s available this 800
m onth is highe r by 2 units. The total num be r of ac tive 600
inve ntory this Marc h was 1,110 c om pare d to 1,108 in Marc h, 400
2009. This m onth's total of 1,110 is highe r than the pre vious 200
m onth's total supply of available inve ntory of 1,086, an -
inc re ase of 2%.

Median Sale Price

280,000
270,000
260,000
Mar-09 Median Sale Price
$275,000 Last Marc h, the m e dian sale pric e in Hanove r County was
250,000
$275,000. This Marc h, the m e dian sale pric e was $233,000, a
240,000
de c re ase of 15% or $42,000 c om pare d to last ye ar. The
230,000
Mar-10 c urre nt m e dian sold pric e is 1% lowe r than in Fe bruary.
220,000
$233,000
210,000
Median sale price is the middle sale price in a given month. The same
200,000 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: Hanover County, Virginia March, 2010
Including:

New Lis tings Current Contracts Sold Vs . Lis t Price Months of Supply
373 188 94.4% 9.7
500  200  99% 25 
98%
400  20 
150  97%
300  96% 15 
100  95%
200  10 
94%
100  50  93% 5 
92%
‐ ‐ 91% ‐

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 24% Up 62% Do wn -1.5% Do wn -18%

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

Months Of Supply
25 Months Of Supply
19.8

19.1

In Marc h, the re was 9.7 m onths of supply available in Hanove r

18.2
17.6

16.5

20
County, c om pare d to 11.9 in Marc h, 2009. That is a de c re ase
14.4

14.3
12.6
12.5

11.9

of 18% ve rsus a ye ar ago.

11.6

11.5

15
11.1
10.9

10.8

10.7

10.7
10.4
9.8

9.7
9.7
9.4

9.3
9.0

8.3
8.2

10
7.1

Months of supply is calculated by dividing current inventory by current

5 sales. It indicates how many months would be needed to sell all of the
inventory available at the current rate of demand.
-

New Listings & Current Contracts

Number of New Listings Current Contracts
500
450

New Listings & Current Contracts 400

350
This m onth the re we re 373 hom e s ne wly liste d for sale in 300
Hanove r County c om pare d to 300 in Marc h, 2009, an inc re ase 250
of 24%. The re we re 188 c urre nt c ontrac ts pe nding sale this 200
150
Marc h c om pare d to 116 a ye ar ago. The num be r of c urre nt
100
c ontrac ts is 94% highe r than last m onth. 50
-

Sale Price/ List Price & DOM

Avg Sale / Avg List Average DOM
99% 120
98%
100 Sale Price to List Price Ratio
97%
80
In Marc h, the ave rage sale pric e in Hanove r County was 94.4%
96%
pe rc e nt of the ave rage list pric e , whic h is 1.5% lowe r than at
95% 60
this tim e last ye ar.
94%
40
93%
92%
20
Days On Market
91% - This m onth, the ave rage num be r of days on m arke t was 77,
lowe r than the ave rage last ye ar, whic h was 90, a de c 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 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.."