Archive for month: June, 2013

Cultures Collide at Smithsonian Folklife Festival

27 Jun
June 27, 2013 One of the wonderful things about America is that it’s a cultural melting pot. Almost every race and ethnicity is represented in this country. Nowhere is that more apparent in Washington, D.C., which is one city that truly embraces the world’s diversity. The chances here to encounter cultures you may have never known about are tremendous. Rarely does a week go by where there isn’t an opportunity to see something you may have even heard about. Over the next couple of weeks, right downtown, there’s one of the biggest multicultural events this city has to offer. That’s because this weekend, as well as the week following the Fourth of July, is the Smithsonian’s Folklife Festival. Read more [...]

Ashburn, VA Market Report – 6/26/13

26 Jun
June 26, 2013 20147 and 20148 The Ashburn market is “Red Hot!" The total sales volume year over year is up 63%, sold units are up 47%, and the average sales is up 11% - all year over year.  This amazing market trend is being driven by historically low interest rates, coupled with the lowest inventory in Northern Virginia in over 5 years.  There is less than a 30 day supply of homes in the Ashburn market.  The re-sales and new home sales continue to surge upward. May 2012 May 2013 % change Total Sales Volume $55,197,827 $90,342,015 63% Sold units 128 189 47% Avg. sold price $431,233 $478,000 11% Avg. DOM 43 30 -30% Pending contracts 208 224 7.6% Active listings 237 295 24% Do you live Read more [...]

Taste of Reston Showcases Town Center

13 Jun
June 13, 2013 Over the past few years, one of D.C. Metro  biggest area's of growth has been in Virginia, to the Northwest of the city. That trend is only likely to continue, spurred by the construction of Metro’s Silver Line, connecting downtown Washington to Dulles Airport. Along that route is an already constantly expanding town, Reston. Though Reston has become more popular in recent years, it’s been an established community for a long time thanks to one very big anchor: The Reston Town Center The Reston Town Center was one of the area’s first mixed-use suburban properties, a massive collection of commercial, residential and retail space. At the time it was an example of how suburban areas could Read more [...]

Springfield, VA Market Report – 6/11/13

11 Jun
June 11, 2013 The Springfield market is showing an active selling season despite all the rain we've been having.  You'll notice property prices continue to rise and buyers are taking advantage of the lowest interest rates in years.  It's the perfect storm, and clients are listening and taking advantage in the Springfield area. Our future sellers will be happy to note that our average "days on market" came down to 15 days in May.  Homes are selling within days of coming on the market, some with multiple offers and going above asking price.    May 2013 May 2012 April 2013 Total Revenue $70,096,719.00 $45,317,345.00 $44,793,649.00 Average Sold Price $458,520.00 $389,293.00 $434,426.00 Units Sold 153 116 106 Average Read more [...]

Centreville, VA Market Report – 6/10/13

10 Jun
June 10, 2013 The Centreville market is divided into two distinctive markets. 20121 is located North of Lee Highway, with 20120 to the South of Lee Highway.  In line with Northern Virginia and Fairfax County, the Centreville market is experiencing the lowest inventory in 5 years, and sales are reaching the number of active listings, creating Sellers’ market with average days on the market below 30. April 2012 April 2013 % change Avg. Sales Price $346,987 $375,953 8.4% Avg. DOM 25 22 -12% Total Unit sales 96 92 5% Active listings 105 51 -51% If you're considering selling, now is the time!  It’s time to take advantage of this exceptional Seller’s Market.  Select and compare 2 to Read more [...]

Manassas Park, VA Market Report – 6/10/13

10 Jun
June 10, 2013 Buyers are asking, "Where can I find a home to buy in Northern Virginia"? That's a good question, and I have the answer - "New Construction." With interest rates "still" at historic lows and the lack of inventory of available resale homes, buyers are streaming to new home builders. "What does this do for homeowners in Manassas Park?" In general, new construction drives resale home prices, so as builders raise their prices (happening now), it tends to pull resale values up also. Do I hear a "Come on new construction!?" So, why are buyers flocking to new construction? It's simple - there is a lack of available homes for sale. The chart shows us there was a 20% decrease in new listings on the Read more [...]

Outdoor Movie Season Heats Up With Summer

06 Jun
June 6, 2013 This past week has reminded every D.C. resident just how serious the summers here can be. High temperatures and even higher humidity are the norm in this city during the day. That doesn’t mean the nights are unpleasant. On the contrary, since it is so hot and humid, the evenings stay plenty warm, so you can comfortably sit outside in shorts and tee shirts and enjoy the still air. And with the weather having already turned permanently toward the warmer, one of Washington’s favorite summer pastimes is well underway across the metro area. Outdoor movies. Almost every neighborhood in this town sets aside one night a week to put up a giant projector on a lawn and play a movie. The theme’s Read more [...]

Falls Church, VA Market Report – 6/3/13

03 Jun
June 3, 2013 Falls Church is an area that comprises about 5 different zip codes as well as an the incorporated city of Falls Church. For this market update, we will be focusing on the 22043 zip code. The zip code emcompasses homes in a large price range. You can get a one bedroom condo starting around $200,000, and the range goes as high as a single family, 6,000 square foot home for $2 million. You are close to the major commuter routes of I-66, Rt. 50, and I-495, as well as 3 metro stations. 22043 covers the two well known high schools of Marshall and Mclean.   It’s no wonder days on market for a home in Falls Church has decreased by 14.81%. The average sales price for a detached home in April was Read more [...]