The real estate market in Austin Ridge and the rest of Stafford was off to a very slow start this year, but we are in full swing now!  

In May there were 5 properties that sold.  The average list price was $689,800 and the average closed sales price was $675,200.  Average Days on Market was 9.4 days for these May properties.

June slowed down a bit, as we only saw 3 properties close.  Average list price was $701,667 and average closed sales price was $688,333.  Average Days on Market for June was 11.67.

I always like to take a look back at what happened in June of 2024 to compare.  June of 2024 gave us 7 closed properties.  Average list price was $667,114 and average closed sales price was $660,057.  Average Days on Market was 23 days.  

High interest rates combined with ever increasing sales prices are keeping a lid on the real estate market right now.  Im not seeing many people moving because they want to upgrade.  Moves that are happening right now are typically moving out of necessity versus just wanting a bigger place.  

This is creating a ton of pent up desire for both buyers and sellers.  I believe that if rates can come down and STAY closer to 5%, we will see an explosion  in the market.  

I always like to give a spotlight to a new business  or some news for Stafford, but I feel like I had a hard time finding a new business so I'm spotlighting a local junk removal business run by my husband and son.  They are Silverback Scrap and Junk Removal.  You can give them a call at 540-200-8587 or visit their website at www.silverbackscrap.com. 

If you are looking to buy or sell your Austin Ridge home, I would love the opportunity to earn your business and get your real estate goals accomplished!