Dale City Home Prices Rise

Dale City’s residential housing market saw a 2.05-percent increase in the average price of a sold home in November 2011 compared to the same month last year, according to statistics from Reatlor Susan Jacobs of Realty World.

Homes stayed on the market an average of 60 days, which is almost double as long as they did in November 2010 at 37 days. Just because homes were on the market longer doesn't mean that buyers' dream homes will still be there when they are ready to buy.

“For a buyer it can be misleading information because properties that are priced correctly go under contract quicker, usually less than 30 days,” Jacobs said. “If they drag their feet on a property they like it will be gone.”

The average price for sold homes in Novemver 2011 was $235,193. Only 67 homes sold in November 2011, which is three less than the amount sold in November 2010. But 14 of those homes sold after being on the market for 10 days or less.

“Homes are on the market longer this year part due to the fact that home prices have gone up, eliminating alot of first-time buyers, and buyers are taking a longer time to decide since they have such few properties to look at,” Jacobs said.

If there were more homes for sale in Dale City then the average days on the market would go down because the buyer would have a wide selection and would make a decision faster, Jacobs said.

There were 206 active listings in Dale City in November 2011, a 10.82-percent drop from November 2010’s 231 listings. There also was a 23.26-percent drop in homes under contract with only 33 during the same time period.