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.
Average Sold Price
Average Days on Market
New Pending Sales
Total Sold Dollar Volume
Median Sold Price
Avg Sold Price
Avg Days on Market
Avg Sold to Orig List Ratio
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,
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
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.
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
For the first time since the 1992 Vienna, Austria launch of Red Bull’s Flugtag event, DC, Maryland and Northern Virginia residents get to join in on the fun and have one of this year’s showings right in our own backyard. Since these events continue in the footsteps of the majority of Red Bull’s inventive, live-action publicity stunts around the world, Flugtag’s first DC expo promises to be an epic occasion.
WHAT IS FLUGTAG?
Flugtag translates to “Flying Day” in German – Red Bull’s Flugtag event involves the careful selection of teams by event organizers who are tasked to conceptualize/build/ MacGyver a man-made flying machine that will be launched in front of thousands
The Centreville market is divided into 2 distinctive markets - 20121, located North of Lee Highway, and 20120, which is South of Lee Highway.
In line with Northern Virginia and Fairfax County, the Centreville market continues to enjoy the low inventory levels, and monthly sales continue to run close to the number of active listings, creating a Sellers market with average days on the market below 30.
Avg. Sales Price
Total Unit sales
If you are considering selling, now is the time! It's time to take advantage of this exceptional Seller's
LIVE, WORK, PLAY, GET INVOLVED. These founding principles are still embodied by the Reston Community just like they were when this first planned community of Virginia was founded in 1960!
Like the rest of Fairfax County, Reston has had their numbers increase slightly like other recovered markets of the DC Metropolitian Area. Closed sales, average sales price, and total dollar volume are all up from a year ago. The market has definitely slowed down from the beginning of the spring market in March. Interest rates also have a huge impact on things slowing down as well.
Total Sold Dollar Volume
There were eight homes sold in Rappahannock County in July of 2013 as compared to nine homes in July of 2012. The average sales price has decreased by 68% and the average days on the market has increased 51% from 133 days to 202 days. These statistics are not in line with the general area where prices are on the rise and days on the market is decreasing. Rappahannock County is a wonderful location for Buyers looking for a beautiful rural setting. It is the home of the scenic Blue Ridge Mountains and borders the Rappahannock River. Only 65 miles southwest of Washington DC, it is a great spot for Northern Virginia Commuters.
Sold Dollar Volume
Even though there was a nearly 114% increase in new listings, the real estate market in Bristow is still in the "Seller Zone". Buyers have been trying to take advantage of historically low interest rates before they rise again but cannot find a home in good condition to purchase without already having multiple offers!
Even the homes that are in poor condition have investors swarming over them with cash offers. August should show a slowdown in sales activity as families gear up for the start of the school year, but September may come back with a bang!! (Look for those numbers in early October)
Compare home sales for Bristow in July of 2013 to home sales in July of 2012:
The number of