Below is a table showing sales over the past year of detached single family dwellings in Fords Colony.
Based on the most recent quarter of sales, at an absorption rate of 4.33 units per month, there appears to be a nearly 32 month supply of inventory in Fords Colony. However, when homes are priced correctly, the Median Days on Market for the most recent quarter is 152 (under 6 months). The period of 4 to 6 months prior resulted in only four sales through the Williamsburg Multiple Listing Service. This appears to be due in part to the time of the year (November 25, 2009 to February 24, 2010) when sales volume is typically lower.
Although the most recent quarter still has a lower sales volume than the Prior 7 to 9 months, and 10 to 12 months periods, Pending sales are encouraging. There are currently eleven pending sales in Fords Colony with a median list price of $599,900, and days on market of 95. This should increase the absorption rate for the upcoming quarter, and hopefully lower the inventory levels.
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