Active Listings Are Down But Check Out DOM

Market Update for Springfield VA Zip Code 22152

DOM is Realtor® speak for Days on Market.

I’ll admit I’ve been slacking off from posts over the last month.  Mainly because the team is busy and also just came back from a Real Estate Technology Conference in Atlanta GA.  Started off this morning by taking look at the latest market data in the Springfield VA zip code of 22152.   I’ve had buyers checking out the options in Kings Park, Orange Hunt Estates and West Springfield which prompted a more detailed look.

The number of new listings is well below this time last year.  In April 2011 there were 87 new listings that came on the market.   In March 2012 only 50 new listings came on the market in Springfield.

However the Days on Market have almost doubled from 39 to 72.

One would think with lower inventory homes would be flying off the market.  We are seeing multiple offers on properties but buyers are more cautious, a good thing and taking longer to write their offers.  Prices for detached homes and townhouses have risen from last year showing the Springfield 22152 zip code is making a steady recovery.

Wonder what’s on the market in Springfield now?  Check out a few of the properties available and if buying a home in Springfield VA is on your to do list, give me a call to talk about any of these homes or other options in the community.

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2 thoughts on “Active Listings Are Down But Check Out DOM

  1. It sure seems like your market has improved since last year in terms of active listings. It’s proof that well priced homes are having a higher possibility of multiple offers. Your market reports are easy to read and understand.

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