Sue Smith, Realtor, serving the real estate needs of buyers and sellers in Hanover, Richmond, Henrico, Goochland, and Louisa Counties in Virginia.

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The "Hanover Report"
Real Estate Market Conditions in Hanover County

As we all know, we're currently in a buyer's market.  This means that there are ample homes on the market and buyers have plenty of homes from which to choose.  With mortgage rates being at historic lows, it's a GREAT time to be a home buyer!

If you plan to sell your home, price is the key!  There's a lot of competition in the real estate market and you really have to be the best priced home in your area in order to compete.  That's where a carefully researched market analysis comes into the picture to help you decide at what price to list your home for sale. 

We currently have an eight-month supply of homes on the market in Hanover County.  That means that if no new listings came on the market, it would take eight months to sell the existing listings.

Hanover County Real Estate Statistics

One Year Ago (as of 1/23/2008) Properties SOLD in 2008
There were 650 active single-family home listings in Hanover County
(Areas 36 and 44)
Average List price for the last six months was $320,730
Average Sales price for the last six months was $314,139
List price to sales price ratio was 97.9%
Average Days on Market was 67
Average home sold was 2,170 sq. ft. with 3 bedrooms and 2 full bathrooms
Average price per sq. ft. was $144.76		 There were 868 single-family homes Sold in Hanover County
(Areas 36 and 44)
Average List price was $315,259
Average Sales price for the last six months was $305,804
List price to sales price ratio was 97.0%
Average Days on Market was 71
Average home size is 2,211 sq. ft. with 3 bedrooms and 2 full bathrooms
Average sold price per sq. ft. was $138.31
   
In Ashland:
There were 83 active single-family home listings in Ashland
(Zip Code 23005)
Average List price for the last six months was $295,545
Average Sales price for the last six months was $288,745
List price to sales price ratio was 97.6%
Average Days on Market was 93
Average home sold was 1,876 sq. ft. with 3 bedrooms and 1 full bathroom
Average price per sq. ft. was $153.92		 In Ashland:
There were 91 single-family homes sold in Ashland
(Zip Code 23005)
Average List price was $311,974
Average Sales price was $298,588
List price to sales price ratio was 95.7%
Average Days on Market was 92
Average home sold was 1,872 sq. ft. with 3 bedrooms and 1 full bathroom
Average price per sq. ft. was $159.50
   
In Mechanicsville:
There are presently 406 active single-family home listings in Mechanicsville
(Zip Codes 23111 and 23116)
Average List price for the last six months was $309,970
Average Sales price for the last six months was $303,808
List price to sales price ratio was 98.0%
Average Days on Market was 62
Average home sold was 2,149 sq. ft. with 3 bedrooms and 2 full bathrooms
Average price per sq. ft. was $141.37		 In Mechanicsville:
There were 642 single-family homes sold in Mechanicsville
(Zip Codes 23111 and 23116)
Average List price for the last six months was $300,221
Average Sales price for the last six months was $292,562
List price to sales price ratio was 97.4%
Average Days on Market was 66
Average home sold was 2,176 sq. ft. with 3 bedrooms and 2 full bathrooms
Average price per sq. ft. was $134.44

 

 



 

Opening Doors for You!  Call me today for all of your real estate needs!

 

Sue Smith, REALTOR®

Accredited Home-Staging Specialist
 Venture Real Estate
Goochland, VA 
Home Office:  804-798-2393

Cell:  804-338-4233

Email Sue