Archive for category: Finance

Frederick County, MD – 12/23/13

23 Dec
December 23, 2013 There is so much to do in Frederick that it is hard to know where to begin. Civil war battlefields, parks, museums, wineries, zoos, minor league ballgames, historic sites, antique shops, farm markets and more. Visit old town Frederick and experience a day of shopping, browsing and eating.  The unique shops offer merchandise not found in the malls and big name stores and the wonderful eating establishments rival any 5 star restaurants. In fact, the restaurant Volt is a 5 star restaurant written up in many magazines as a top rated place to dine with a Top Chef runner-up at the helm. Spend a Saturday at one of the wineries in the area and you might just find that special wine you have always Read more [...]

Burke, VA Market Report – 12/18/2013

18 Dec
December 18, 2013 Just think! The sold dollar volume has gone up 16.91% from a short year ago. All indications say our housing market continues to increase while days on market decrease. With interest rates hovering around 4.5% , it's a great day to be buying a home. If you've been listening to the recent news commentaries about our housing market, you've heard we are out of the recession, interest rates WILL rise next year and housing prices will continue to rise as well. So…if interest rates are low and home prices are at their lowest price this year, why not take advantage of the market today? It's not too late to buy yourself a home for Christmas!  Call us.   November 2013 November 2012 October Read more [...]

Gainesville, VA Market Report – 12/16/2013

16 Dec
December 16, 2013 Are we edging closer to a “Normal Market?  Not really, we are still in the “Seller Zone”! Prices will continue to climb at a steady rate as long as interest rates and inventory remain low. In the third quarter of 2013 there was an increase in new listings coming on the market but sold prices did not reduce. Why, you ask? Because inventory is still historically low. It gets even better for sellers, in November, the number of new listings dropped 14% compared to November 2012. This is the first significant drop in inventory since December 2012. Very good news for sellers! There are 10,777 homes in Gainesville and only 91 are actively looking for a buyer. That’s less than .01% of homes Read more [...]

Caroline County, VA Market Report – 12/9/13

09 Dec
December 9, 2013 Caroline County is an affordable area within easy commute of both the Fredericksburg and Richmond areas. An assortment of homes, from lakeside properties to new planned communities, make this area attractive choice for many buyers. The median home price in the county increased by 52.73% over last year at this time, and is up 6.7% from September. There were fewer homes on the market, another  indicator that lack of inventory helped boost prices. The largest sector of purchasers paid cash for their homes, but all other financing options are represented as well. If you’re thinking of buying or selling soon, consider jumping into the market early in 2014! Statistic Values YoY MoM Total Read more [...]

Leesburg, VA Market Report – 12/2/13

02 Dec
December 2, 2013 The Leesburg Market continues into the second year of strong growth, following a huge drop in average sales price influenced by the distressed sales of foreclosures and short sales. The overall year over year increase in sales price is up 14%, outpacing Loudoun County at 6%. Closed units remain strong at 11% year over year outpacing Loudoun County which remained steady. October 2012 October 2013 % change Avg. Sales Price $388,708 $444,381 14% Avg. DOM 70 63 -10% Total Unit Sales 92 104 11% Active listings 340 354 4% Pending Sales 194 159 -18%  Northern Virginia continues to enjoy the low inventories, even though interest rates have moved up slightly above the historic lows 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 [...]

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 [...]

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 [...]