Gainesville, VA Market Report – 10/17/13

17 Oct
October 17, 2013 We are still in a "Seller's Market" Over the past two months there has been an increase in new listings coming on the market in Gainesville, compared to last year at the same time. This is an increase of 32.26% in new inventory available to buyers. Is it something sellers should be concerned about? Absolutely not! There are 10,777 homes in Gainesville, and only 118 are actively looking for a buyer. That's .01% of homes in active status. Very low inventory, indeed! The graph below shows the amount of active listings over the last 5 years: Buyers, prices and interest rates are expected to rise again next year so we highly recommend you get out there this fall and take advantage of the increased Read more [...]

Alexandria, VA Market Report – 10/15/13

15 Oct
October 15, 2013 September brings the last great push for real estate in the calendar year, and that's reflected in the numbers below. Our new listings have increased 25.94% over this time last year.  Word might finally be out that home prices are on the rise, and were, by 16.92% over this time last year. If you're a buyer looking within the city of Alexandria, this should come as very good news. There will be more to look at, more to choose from and with the favorable interest rates, a great time to buy. Why wait any longer?   September, 2013 September, 2012 August, 2013 Total Revenue $88,835,585.00 $75,980,426.00 $107,267,794.00 Average Sold Price $496,288.00 $474,878.00 $501,251.00 Units Sold 179 160 214 Average Read more [...]

Ashburn, VA Market Report – 10/8/2013

08 Oct
October 8, 2013 The Ashburn “Red Hot” Market continues.  The total sales volume year over year is up 52%, while sold units are up 38%, and the average and the average sales price is up 10.5% . This amazing market trend is being driven by the increase in new home sales (similar to the one we experienced 3 years ago), coupled with historically low interest rates, and continued record low inventories in Northern Virginia. August 2012 August 2013 % change Total Sales Volume $54,546,492 $83,444,112 52% Sold units 120 166 38% Avg. sold price $454,554 $502,675 10.5% Avg. DOM 39 28 -28% Pending contracts 204 203 NC Active listings 285 305 -7% Do you live in Ashburn or are you considering selling? Now Read more [...]

Warren County/Front Royal Market Report – 10/3/13

03 Oct
October 3, 2013 The Real Estate Market in Front Royal,VA has increased in every category since this time last year! The amount of sales volume has increased by 28%! The average sold price is up 2.46%, and the average amount of time in which to sell a property has dropped from 104 days on market to just 54 days! In addition to that, Sellers are now getting an average of 96% of their listed price. This is an increase of 6.62% in just 12 months. The average sales price for a detached home in Warren County is $208,625 which is up 3.5% from this time last year, but it is still very affordable! Warren County and the quaint town of Front Royal is a very desirable location for first time home buyers. We see a Read more [...]

Fall Wine Tasting: Virginia & Maryland Wineries Near Washington, D.C.

02 Oct
October 2, 2013 Now that it’s cooled off in our area it’s time to enjoy the sunny crisp days before the chill of winter by heading out of the city on a Saturday or Sunday escape to one of the DMV’s numerous nearby vineyards. A lot of DC natives aren’t aware that Virginia and Maryland are home to many locally owned and operated wineries. Spending the day touring a vineyard and taking advantage of the tastings being offered by the winery you choose is the perfect way to spend a fall day out of DC. If you’re planning on visiting multiple vineyards and doing several wine tastings in a day you may want to look into the option of getting a car service, limo or party bus, depending on the size of your group. Read more [...]

Springfield, VA Market Report – 10/1/13

01 Oct
October 1, 2013 No doubt about it.  The real estate market is consumer driven. While the average home prices in Springfield continue to rise, days on market also rose from what I previously reported last time. It seems consumers took a step back from the home buying rush experienced earlier in the year. Did the increase in the interest rates have anything to do with it? I would say so.    August, 2013 August,  2012 July, 2013 Total Revenue $60,234,547.00 $45,171,488.00 $57,586,616.00 Average Sold Price $454,754.00 $390,939.00 $436,750.00 Units Sold 133 115 132 Average Days on Market 25 28 19 Active Listings 153 140 128 New Listings 147 122 162 New Pending Sales 100 139 126 Let's Read more [...]

Bethesda, MD Market Report – 9/30/13

30 Sep
September 30, 2013   Statistic Values YoY MoM Total Sold Dollar Volume $16,083,200 +52.17% -37.42% Closed Sales 18 +50% -43.75% Median Sold Price $862,000 +2.01% +8.91% Avg Sold Price $893,511 +1.44% +11.26% Avg Days on Market 18 days -57.14% -35.71% Avg Sold to Orig List Ratio 99.06% +2.1% -0.1% The statistics in the chart above reflect the total Real Estate market, including Condos, Townhomes and Detached Single Family homes. Since the majority of the business in this part of Bethesda is in the Detached Single Family area, I will be drilling down and discussing these numbers specifically.  DETACHED SINGLE FAMILY:  In the 20816 area of Bethesda, Read more [...]

Manassas, VA Market Report – 9/26/13

26 Sep
September 26, 2013 Over the past two months there has been an increase in new listings coming on the market in the City of Manassas. Compared to August of 2012, this is an increase of 54% in new inventory available to buyers. Is this something sellers should be concerned about? Absolutely not!  We are still in a “Seller’s Market”. Let’s go back in five year increments and look at the inventory and average sales price history for August: 2008 (NL) 126, (ASP) $168,234;  2003  (NL) 83, (ASP) $227,429;  1998  (NL) 67, (ASP) $149,930.  One more number to throw out there, the number of active listings at the end of August this year is 75, in 2007 it was 599.  As you can see, sellers should be very happy Read more [...]

Brew & Blues Festival in Front Royal, VA.

25 Sep
September 25, 2013 As summer continues winding down, Front Royal is gearing up. During the summer months when temperatures can reach in to the 100s, some of us choose to stay inside with the AC on high. Autumn provides us with a few weeks of perfect weather for outdoor activities before we're forced to retreat back in doors to wait out the severity of the Virginia winter. This weekend kicks off the fall activities with the 4th annual Brew & Blues festival in historic downtown Front Royal, presented by the Front Royal-Warren County Chamber of Commerce. Beginning in 2010, the festival was added to the lineup of events celebrating the end of summer as a nod to the beer drinkers of the Shenandoah Valley. Read more [...]

Spotsylvania County Market Report – 9/24/13

24 Sep
September 24, 2013 Spotsylvania County offers every type of home and community – from suburban planned communities to rural horse properties. This variety makes it a prime area for home buying activity. Home sales have been steadily increasing this year – up 30.77%!  The median sold price is up 11.6% since last year, and the average sales price is up 17.62%. In fact, every statistic except the days on market – the time it takes to sell a home – have risen, but it only takes on average 57 days for a home to sell. This indicates a strong market for all types of housing, sometimes with multiple offers, and prices very close to the list price.  While interest rates have increased slightly, the Spotsylvania Read more [...]