My New Blog

Ford's Colony Sales - Williamsburg, Virginia 23188
May 25th, 2010 4:20 PM

Below is a table showing sales over the past year of detached single family dwellings in Fords Colony. 


Prior 10 to 12 Months   Prior 9 to 7 Months Prior 4 to 6 Months Prior 3 Months
Total Number of Sales


22 4 13
Absorption Rate Per Month


7.33 1.33 4.33
Total Number of Listings 137
Months of Housing Supply 31.6
Median Sales Price $500,000 $555,000 $578,000 $495,000
Median Days on Market (Sold)


98 175 152
Median List Price $584,000
Median Days on Market (Listings) 92
Median Sales Price as % of List Price


97.04% 96.3% 93.8%


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.  

Posted in:General
Posted by David Hertzler, II on May 25th, 2010 4:20 PMPost a Comment

Subscribe to this blog

My Favorite Blogs:

Sites That Link to This Blog: