The 20882 section of Gaithersburg is improving, ever so slowly. Median Sold Price has inched up +6.86% to $538,000, and the Average Sold to Original List Ratio have had no change over the last month. Condition and price are having a huge effect in this part of Gaithersburg. The 142 Average Days on Market number does not tell the complete story. Days on the market continue to increase for properties that are overpriced and need work. The new well priced, aesthetically pleasing homes are moving quickly. So I see this discrepancy as an opportunity for the investor or the savvier homebuyer, if reluctant Sellers are willing to finally lower prices.
February 2013 Real Estate Market Statistics
The real estate market in Eastern Prince William County is definitely in a "Seller's Market Zone" due to the lack of available homes for sale. Sellers are staying put, buyers are trying to take advantage of low interest rates but cannot find a home to purchase. Welcome back multiple offers on fairly priced homes in good condition!! Even the homes that are not in good condition have investors swarming over them with cash offers.
Compare home sales for Lake Ridge in February 2012 to home sales in February 2013:
The number of available homes for buyers to purchase is down 29.93% Low Inventory
New listings on the market in Sept. is down 15.96% Low Inventory
Homes under contract is
The Market in Front Royal,VA is really picking up! The sales volume has increased by 14% from this time last year! The average sold price is up 6.24%, and the average amount of time in which to sell a property has dropped from 106 days on market to 80 days.
Warren County and the quaint town of Front Royal is a very desirable location for first time home buyers, we are continuing to see a lot of first timers enter the marketplace here. There are loan programs being offered that allow qualified home buyers to purchase with little to no money down! The interest rates are historically low, so Buyers are realizing that purchasing in many cases will cost them less than renting!
The average sales
Focusing in on the Rockville 20851 zip code shows a very tight market. New Listings are down -35.7% from January 2013 but up +28.6% in comparison to February 2012. For a total of 7 New Listings this February our increase is really not that significant and continues to be reflective of a Seller’s Market.
New Pending Contracts in February 2013 landed at 8. This number is down
--57.9% from January of this year and also down in comparison to February 2012, another sign of our low inventory market. Fewer listings mean fewer pending deals.
February 2013 Real Estate Market Statistics for 20851 Rockville, MD
Total Sold Dollar Volume
There is no doubt about it. If you're thinking of selling...
NOW IS THE TIME TO LIST YOUR PROPERTY FOR SALE!
Property values are increasing and your home may be worth more than you think. With the time it takes to sell a home decreasing, most homes are going under contract in less than 60 days. You'll be able to get the best price for your home in the least amount of time. A seller's dream come true!
You'll notice that the inventory for homes is at an all-time low. By putting your home on the market now, you'll be ahead of all the homes traditionally being listed during the spring market. Why wait when all indications say now would be a good time to sell your home.
HOT, HOT, HOT! I of course am not referring to the weather but the local Vienna, VA real estate market. With the average sales price up 11.77%, the average days on market down almost 50%, inventory is almost non existent, and with loan rates still at an all time low, it makes for a perfect storm of multiple offers!
January 2013 Real Estate Market Statistics for 22180 Vienna, VA
Total Sold Dollar Volume
Median Sold Price
Avg Sold Price
Avg Days on Market
Avg Sold to Orig List Ratio
Did you know? VDOT is spending 267 million on the Rt. 29 and Linton Hall Road Interchange. The estimated completion date is June 2015 and you can watch a video of the finished product at http://www.virginiadot.org/projects/resources/NorthernVirginia/Linton_Hall_800.mpg
Even with the road construction and traffic delays, demand for housing in Gainesville is on the rise! New construction is so "HOT" developers are standing in line at the county offices trying to obtain approval for new projects. You might ask, why is new construction important? The answer is, as new home prices increase so do resale prices. This has always been the trend so come on new construction!!
Just look at the
Chevy Chase, Maryland is the name of both a town, an unincorporated city. A number of villages in the same area of Montgomery County also include Chevy Chase in their names. The area is located on Connecticut Avenue north of Washington, DC and also includes a neighborhood in Washington, DC.
It is primarily a residential suburb with high end shopping including the area of Friendship Heights, restaurants and luxury living in single family homes, rental apartments and condos.
Let’s take a look at the December 2012 Real Estate Market Statistics for Chevy Chase:
Total Sold Dollar Volume
Have you heard about the law of supply and demand? Buyers want homes that are priced right and look good. When a home like that comes on the market, it is likely going under contract in less than 60 days. Supply is decreasing and with demand growing, homes coming on the market now are priced a little higher than they were last year.
If you felt you were underwater on your home loan (meaning owing more on your mortgage than what you think your home is worth if you sold it) you owe it to yourself to find out the present value of your home. You may be surprised. Your home might be worth more than you think. Is now a good time to be a seller? Absolutely!
Now that we have avoided jumping off the Fiscal Cliff, the real estate market in Manassas City can continue to climb towards the record "peak" selling prices of 2005 & 2006 where the average sold price of a single family (detached) home was $468,000.
Have you notice all the new construction going on in our City? New construction is so "HOT" the owners of Sunny Brook Golf Driving Range have started a subdivision on the left side of the range. (If you hear someone yell "FORE", you better duck and run for cover!) You might ask, why is new construction important? The answer is, as new home prices increase so do resale prices. This has always been the trend so come on new construction!