Archive for month: November, 2013

New Outlets Come to NOVA, DC, & MD Just In Time for Holiday Shopping

26 Nov
November 26, 2013 Black Friday for the DC and NOVA area just got a little more convenient and a lot more fun with the grand opening of the new Tanger Outlets located at the National Harbor. With names like J. Crew, Michael Kors, Polo Ralph Lauren, and a Nike Factory Store opening just minutes from Arlington and Alexandria, and still very convenient to many other northern Virginia counties, holiday shoppers have less traffic than trying to deal with traveling down 95 to reach Potomac Mills, and a lot more shopping to look forward to this season. Black Friday at Tanger Outlets, National Harbor Technically Tanger Outlets’ Black Friday shopping spree is starting before Friday even begins. Shoppers can arrive at Read more [...]

Manassas, VA Market Report – 11/25/13

25 Nov
November 25, 2013 Over the past two months there has been a 70% increase of new inventory available to buyers in the City of Manassas. Is it something sellers should be concerned about? Absolutely not!  There are 14,053 homes in the City and as of Halloween night, only 87 are actively looking for a buyer.  That’s .0062% of homes in active status, very low inventory indeed! The graph below shows the amount of active listings over the last 5 years. The blue line represents new listings that came on the market. As you can see, active listing inventory has been pretty steady since 2009 with small peaks and valleys. Buyer interest, prices and interest rates are expected to rise again next year so we highly Read more [...]

Clarke County, VA Market Report – 11/21/2013

21 Nov
November 21, 2013 Clarke County is a great location for the Washington DC and Northern Virginia Commuter. It is only 60 miles west of DC and borders Loudoun County - the Nations Wealthiest County! The Median Sold price in Clarke is down 3.75% from this time last year. The average days on the market has dropped from 93 days down to just 81 days. Sellers are selling for 94.7% of their listed price which is much higher than last year when they were averaging just 93%. Clarke County is a planned open space community, residents can enjoy the "slow growth" country setting while still being just 20 minutes away from Loudoun's Tech Corridor. First time homebuyers can find affordable prices in Clarke, the average Read more [...]

Vienna/Dunn Loring, VA Market Report – 11/20/13

20 Nov
November 20, 2013 The warm weather has come and gone but the Vienna Real Estate market is still hot as we round out October. Statistic Values YoY MoM Total Sold Dollar Volume $22,325,707 +27.43% -37.68% Closed Sales 23 +4.55% -42.5% Median Sold Price $950,000 +23.18% +14.81% Avg Sold Price $970,683 +21.89% +8.38% Avg Days on Market 33 days -26.67% -32.65% Avg Sold to Orig List Ratio 96.29% +0.48% -1.69% Homes are staying on the market for a shorter amount of time than last year and sold prices are up a healthy 8 percent. For only having 2 months worth of inventory on the market you can see that we are out selling what is available.  Interest rates Read more [...]

11th Annual Vienna Turkey Trot

19 Nov
November 19, 2013 With Thanksgiving a little more than a week away, Turkey Trot’s are springing up all over the United States. These footraces are held on or around Thanksgiving Day with a purpose that is two-fold. Americans are known for being indulgent when it comes to holiday food, so the 5k race is an effort to burn off calories before the big meal. The fun run is also a chance to benefit local charities, with some organizations providing turkeys and other festive holiday dishes to homeless and low-income families in their community. If you’re looking to stay fit during the holiday season, consider the Vienna Turkey Trot. Celebrating its 11th year on Sunday, November 24, 2013, this race also offers Read more [...]

Chevy Chase, MD Market Report – 11/13/13

13 Nov
November 13, 2013 Breaking down the statistics below a bit more and looking specifically at Single Family Detached homes in the Chevy Chase area, the median sold price for Detached properties for September was $942,000, representing a decrease of 2.4% compared to last month and a decrease of 33.7% from Sep 2012. The average days on market for units sold in September was 30 days, 54% below the 5-year September average of 65 days. There was no month over month change in new contract activity with 15 New Pendings; a 6.3% MoM increase in All Pendings (new contracts + contracts carried over from August) to 17; and a 44.7% increase in supply to 55 active units. This activity resulted in a Contract Ratio of 0.31 pendings Read more [...]

Arlington County Market Report – 11/12/13

12 Nov
November 12, 2013 As we enter the winter market there is good news for buyers. Inventory is growing and interest rates have not increased. It's a great time to think about buying that home you always wanted. While property values are increasing monthly, if you've wanted to sell but didn't because you think you're underwater with your home loan, now would be a good time to find out. A large number of sellers are pleasantly surprised to learn they won't have to short sale their home now. Are you one of them? Homes are selling, in some areas within days and with multiple offers. If it looks good and it's priced right it's selling. Whether you're thinking of buying or selling you owe it to yourself to get the facts. September, Read more [...]

Orange County, VA Market Report – 11/6/13

06 Nov
November 6, 2013 Orange County, VA offers a wonderful opportunity to purchase a primary residence or a weekend home at a substantial discount from previous years. The average sold price is up 13.75% from a year ago, and the number of homes on the market is about the same. Homes sell in an average of 114 days, which is 12.97% less time than last year. With prices rising and interest rates still low, the window of opportunity is becoming smaller if you’re looking for a great deal. Whether you are looking for acreage, resort living a Lake of the Woods, or an attractive subdivision with custom homes, Orange County, located halfway between Fredericksburg and Culpeper, offers great value. Sep 2013 YoY MoM Total Read more [...]

Sterling, VA Market Report 11/5/13

05 Nov
November 5, 2013 In 2012, the Sterling Market was caught in the Short Sale and Foreclosure trend, particularly the Sterling Park area. 2013 has seen a great resurgence of the overall market trends of Loudoun County and Northern Virginia, and inventories remain at record lows as the demand continues to outpace the supply. September 2012 September 2013 % change Avg. Sales Price $311,552 $389,795 25% Avg. DOM 24 27 1% Total Unit sales 83 108 30% Active listings 161 200 24% Even though interest rates have moved up slightly, they have leveled off and show a slight fall back towards previous record lows. What a great time to sell and enjoy the recovery of equity in your home. Thinking about selling, Read more [...]