Despite the ongoing news about rising interest rates, more foreclosures properties entering the market, and no buyers, Northern Virginia continues to sustain a steady growth in most markets.
The Bristow community however is bucking this trend for the 1st quarter of 2011.
Market Statistics for Bristow:
|Feb 2010||Feb 2011||% change|
|Total Sales Volume||$13,929,923||$7,453,919||-46%|
|Avg. sold price||$339,754||$310,580||-9%|
The bright side is that the number of properties under contract for the month has increased over 2010, which indicates that the number of sold properties will show an increase for the month of April. March of 2010 had fewer listings, contained a larger number of foreclosures and short sales, and was driven largely by the first time buyer tax credit, particularly is the under $400,000 price range.
Market data, commentary, and statistics proved by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Area Office, Centreville, VA.