Hello! I’m Mark Worrilow of Fathom Realty. In this week’s listing, you won’t beat the price or condition of this remodeled home in a quiet area with plenty of land to serve your needs.
It’s been remodeled and is ready for new owners. This walk-in home is equipped with upgrades and beautiful fresh paint.
In 2024, the water piping was replaced, new outdoor fixtures were installed, a brand new hot water heater was also installed, and the HVAC system was cleaned and serviced in July 2024.
Call Mark Worrilow today at 703-244-8702 or email mworrilow[at]fathomrealty.com.
The address is 10217 Catharpin Road, Spotsylvania Courthouse, Va.
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Mark Worrilow, District Director at Fathom Realty, shared insights into the local real estate market. Worrilow highlighted the resilience of Virginia's real estate market in 2024, surpassing earlier expectations. Despite a slowdown in 2022 and 2023, the market is witnessing a steady pace of home sales.
Worrilow attributed the previous slowdown to a rapid interest rate surge, causing buyers and sellers to exercise caution. With interest rates now stabilizing, there is a renewed sense of optimism in the market. The potential for the Federal Reserve to lower interest rates further could stimulate activity by attracting more investors and influencing mortgage rates.
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Prince William Association of Realtors: “Bright MLS, Smartcharts, a leader in real estate data and insights, has unveiled its August 2023 market report, delivering a comprehensive overview of the local real estate landscape. This report delves into key trends that have shaped the market throughout this period.”
“Key findings from the report indicate significant shifts in various real estate metrics compared to the previous year. Notable data points for August 2023 include a substantial 37.02% decline in new listings, with only 529 new listings recorded, as opposed to 840 in August 2022.”
Press release: “The NRP Group has broken ground on Lake Pointe, a market-rate apartment community in Woodbridge. The 15-acre site [at 2580 Caton Hill Road] will be transformed into five four- and five-story buildings comprising 355 units.”
“Lake Pointe is situated only twenty miles south of Washington, D.C., in Prince William County. The site is just off the Prince William County Parkway exit on I-95, which sees nearly 160,000 visitors daily.”
“The amenities and floorplans of Lake Pointe were designed to meet the demands of post-pandemic trends, including larger units, floorplans with dens, work-from-home facilities, and on-site private telecommuting locations. Other amenities include a fitness center, a swimming pool, parking garages, and a dog park and spa.”
“The development’s first units are expected to be delivered in 2025.”
Virginia REALTORS: "According to the June 2023 Virginia Home Sales Report released by Virginia REALTORS®, at the end of June, there were 16,246 active listings on the market throughout the state. This is 3,129 fewer listings than last year, more than a 16% reduction."
"The supply is tight in most parts of Virginia and fewer sellers are listing their homes. New listings in June fell 25% from last year to just 12,135, the lowest June level in more than ten years. The largest decline in supply occurred in Northern Virginia, the Fredericksburg region, and parts of the Richmond Metro Area.
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REALTOR Association of Prince William: “Bright MLS, Smartcharts, a leading provider of real estate data and insights, has released its comprehensive report on the latest market statistics for June 2023 in the local area. This highly anticipated release offers valuable insights into the current state of the real estate market and highlights key trends and dynamics that shaped the landscape during this period.”
“The report reveals a significant decline in new listings, closed sales, and active listings in June 2023 compared to the previous year. New listings saw a substantial decrease of 47.03%, with only 579 new listings compared to 1,093 in June 2022. Likewise, closed sales experienced a decline of 21.94%, with 644 closed sales recorded in June 2023 as opposed to 825 in 2022.”
“Despite the decrease in new listings and closed sales, the median sold price displayed a positive trend, increasing by 4.41% to $545,000 in June 2023, up from $522,000 in June 2022. This rise in median sold price demonstrates the ongoing desirability and value of properties in the area.”
The number of homes sold in Prince William County, Virginia, declined by 25% in February.
The Prince William Association of Realtors says:
February of 2023 saw 323 homes sold, a decline of 24.88% from February of 2022. Additionally, new listings decreased by 41.61 percent to 362 from 620 in February 2022.
There were 333 active listings in 2023 as opposed to 174 in 2022, an increase of 91.38%. A 9.78% increase in the median sold price of homes was also reported, increasing from $460,000 to $505,000.
Finally, the average days on the market increased from 12 in 2022 to 33 in 2023.
In January, 299 homes were sold, a noticeable decrease of 25.62% from December of 2022, according to the Prince William Association of Realtors.
The number of new listings decreased by 8.99% to 405 from 445 in December 2022. A total of 342 active listings were listed in 2023 compared to 137 in 2022, a 149.64% increase. '
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The number of new homes sold in Prince William County fell nearly 30% compared to last year.
According to the latest, just-released statistics, a total of 555 homes sold in August, a decrease of 29.30% percent in comparison to September of 2021. New listings reveal a 28.32% decrease, with 648 new listings as opposed to 904 in September of 2021., the Realtor Association of Prince William tells Potomac Local News.
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