Activity has picked up the last 2 weeks. Usually people ask us when the spring market starts. We usually surprise them by saying that it begins about January 15th. This year it has started much later. But we are happy to say it HAS started. Prices are not rising, but activity is. We are receiving more visits to listings, and more offers are chugging through the fax machine. Here are some local stats---as you'll see, the homes in great condition and correctly priced are selling----the rest are sitting. Some pockets (or products) are doing better within the same area. Note, for example the difference between condos in 22315 and 22310, and detached homes. In this case, it's because in 22310 there are quite a few older homes that are not priced reflective of where the market is. Anyway, here are the stats:

In 22315 and 22310 zip codes (the Kingstowne area) there are 321 homes on the market. There are 95 under contract for an absorption rate (AR) of 30%. There are 28 single family detached under contract out of 150 for an AR of 19%. There are 123 townhomes available and 50 under contract. This makes an AR of 41%. For condos, the AR is higher still at 42% with 19 under contract and 45 available.

In Lorton, pricing is even more key to selling. There are 298 homes available in zip code 22079. Only 51 are under contract. This means the absorbtion rate is only 17%. For detached homes, there are 21 under contract and 135 available. The AR is 15%. Townhomes is a slightly brighter picture. There are 135 available. 29 are under contract for an AR of 21%. But condos are much lower. There are 26 available. Only 3 are showing under contract. This gives an AR of 12%. If you are priced wrong in this category, you will sit on the market for a long time.

Springfield shows closer to the Kingstowne area. There are 698 homes available in Springfield. 149 are under contract. That's an absorption rate of 21%. Detached homes make up 454 of the available listings. 88 are under contract for an AR of 19%. Again, Springfield has quite a few older homes that, if not priced right will sit for long periods, especially in neighborhoods plagued with forclosures and short sales. Townhomes are doing much better in general. There are 208 available and 57 under contract for an AR of 27%. There are 46 condos available and only 3 under contract., for an AR of 12%.

Again, the positive, and we are "glass half full" people is that a lot of homes are selling and the inventory is remaining pretty much the same, even at the time of year that it typically rises. But to be successful, condition and price remain crucial factors.