The Great Falls market continues to show impressive results over the same time period in 2008. With inventory down 5%, average days on market down 30%, and homes sold up by an impressive 81.8%, the buyers are definitely out and about in Great Falls. McLean is also showing great numbers against the same time last year. Inventory is down almost 10%, but sales are up 97%. It did take longer to sell homes, by 18%, and prices fell 4% over last year.
A popular residential area for Washington, DC commuters, Sterling is located in the northeastern section of Loudoun County, one of the fastest growing counties in the nation. Nearby public parks include Sterling’s Algonkian Regional Park and Claude Moore Park. In addition, there are several historic battlefields within a one hour drive in all directions. Dulles Town Center and the Leesburg Corner Premium Outlets provide lots of retail and restaurant choices.
It's all over the Real Estate world this morning. Lawmakers are close to extending the Tax Credit for first time home buyers, it could be a done deal as soon as today (although, this is Washington, so that means it could take a bit longer...).
We try to remain cautiously optimistic, particularly when we read that Federal Reserve Chairman Ben Bernanke states that the deep recession is "very likely over at this point." Although, Bernanke further states that "it's still going to feel like a very weak economy for some time." Arlington has shown signs of a recovering market through the first three quarters ofthis year. The following represents market activity for September:
The below statistics for Reston and Herndon are pretty amazing. We are seeing the active listings plummet yet again over the same time last year, but very impressive gains in average sales prices in both communities.
Once considered to be out of the way, the suburbs have extended their reach out to Brookeville and Olney over the years. As a result, you'll often find that the older the home, the bigger the lot. However, recently builders have been building new homes on one acre plus lots in the area. Olney is a popular area to live because of its proximity to the employment areas of Columbia, Silver Spring, Gaithersburg and Washington, DC.
At Avery-Hess, our people are our most important asset. Learn more about one of our best, Oscar Rodriguez from our Springfield, Virginia Regional Office.
What is interesting in preparing our reports is that we always pull the current month, the previous month of this year, and the current month of one year ago. Looking at the average sales price progression: September 2008 - $412,727, August 2009 - $421,493, September 2009 - $424,550, we notice a steady upward march of average sales prices.
Most indicators for Fairfax County continue to show signs of improvement and Springfield is right in line with that prognostication. The recent highway improvements at the Mixing Bowl have made the confluence of the three major highways along the 1-95 corridor an important part of the future growth of the area. With the base relocation project forecasted to bring thousands of new jobs to Fort Belvoir, Springfield will surely see an influx of buyers moving to the area.
Manassas Park is an independent city that is located between the City of Manassas and Prince William County in Northern Virginia. The city is close to Route 28 and I-66, granting easy access to Fairfax and areas north. Manassas Park is also very close to the Prince William County Parkway, which has access to Woodbridge, I-95 and points south. New construction within the city now offers luxury apartments and condos, town center style shopping, and new retail stores--allowing Manassas Park to feature the latest attractions, yet maintain a small town feel.