Archive for the 'Market Reports' Category
June 2010 Real Estate Market Report for Old Town Alexandria in Zip Code 22314
July 20th, 2010 Categories: Market Reports
The June 2010 Real Estate Market Report for Old Town Alexandria in Zip Code 22314 shows gains in both the number of sales and the sales price.
June 2009 had 36 sales with an average price of $664,250 while June 2010 saw 44 sales with an average price of $744,273. This is a nice 12% jump in prices for June year-to-date and an almost 20% jump in the number of sales.
In all fairness, a $77,000 sales in June 2009 (for a garage) brought the average sales down quite a notch. Still, the market is moving and with home prices going up consumers are feeling more confident.
| June Old Town Alexandria 22314 |
2009 |
2010 |
| Av. List Price |
$693,293 |
$769,346 |
| Av. Sold Price |
$644,250 |
$744,273 |
| Low List Price |
$77,000 |
$399.000 |
| Low Sold Price |
$77,000 |
$397,000 |
| High List Price |
$1,345,000 |
$2,450,000 |
| High Sold Price |
$1,200,000 |
$2,100,000 |
| # of Home Sales |
36 |
44 |
| Av. Days on Market |
46 |
53 |
For detailed information on any of these transactions or for information on properties in zip code 22314, call me at 703.927.4554.
Michael
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Alexandria and Northern Virginia Real Estate Market Report for June 2010
July 6th, 2010 Categories: Market Reports
The June 2010 Real Estate Market Report for Alexandria and Northern Virginia was released earlier this week by Coldwell Banker Residential Brokerage and the news continues to be positive for the most part.
Dominating the news was government legislation that extended the closing date for the Tax Relief Credit. Purchasers who were under contract by April 30 now have an extra 90 days to close on their home purchase.
For home buyers who could not take advantage of the tax credit, the time is still ripe to purchase a home. Interest rates are holding at all-time record lows, offering an excellent opportunity to get into the market.
As the market recovers, experts look for interest rates to climb. Even the slightest bump in rates can price a buyer out of their dream home.
The message here? If you are financially stable and if your credit rating is in order, don’t wait or you could miss your opportunity.
Let’s take a closer look at what happened in The City of
Alexandria:
- The number of June sales was down <7.1% from 210 in May 2010 to 195 in June 2010. Sales were also down 10.6% from June 2009.
- The median sales price was up>3.0% from $431,250 in May 2009 to $440,000 in June 2010. The price increase from June 2009 to June 2010 was up> 5.7%.
- The Days on Market (DOM) was up >11.9% from 42 in May 2010 to 47 in June 2010 and up 9.3% from June 2009.
- June YTD sales of 978 are running 6.3% ahead of last year’s year-to-date sales of 920. Excellent news!
For a more detailed look at the June 2010 market reports in your area of Alexandria or Northern Virginia, check out the locations below:
Alexandria
Arlington
Fairfax County
Fauquier County
Loudoun County
Washington, DC
We’ll be bringing you more information about specific neighborhoods – Old Town Alexandria, Del Ray/Rosemont/Temple Hills and Potomac Greens – in the next few days.
Remember that there is a lot of house hunting that can be done indoors (thanks to the internet) and you can stay cool doing it!
Give me call at 703.927.4554 and let me get you started on your search,
Michael
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June 21st, 2010 Categories: Market Reports, Real Estate News
The May 2010 Real Estate Market Report for Alexandria’s 22314 area is interesting. The number of sales, 25, is identical to May of 2009, the days on the market more than doubled from 57 in 2009 to 133 in 2010 but prices are up by 12 percent.
All in all, we’ll take an increase in price anytime.
Remember that each sales cycle has its own peculiarities and should always be looked at in a larger context.
For more information on any of these sales – or on available properties in the area now – give me a call at 703.927.4554.
| May Old Town Alexandria 22314 |
2009 |
2010 |
| Av. List Price |
$724,180 |
$883,187 |
| Av. Sold Price |
$700,136 |
$795,316 |
| Low List Price |
$360,000 |
$449,900 |
| Low Sold Price |
$392,811 |
$415,000 |
| High List Price |
$1,250,000 |
$1,899,000 |
| High Sold Price |
$1,175,000 |
$1,650,000 |
| # of Home Sales |
25 |
25 |
| Av. Days on Market |
57 |
133 |
Michael
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May 2010 Real Estate Market Report for Del Ray, Rosemont, and Temple Hills in Zip Code 22301
June 16th, 2010 Categories: Market Reports, Real Estate News
The May 2010 Real Estate Market Report 2010 for Del Ray, Rosemont, and Temple Hills in zip code 22301 is all about good news. Sales are up, prices are up, and days on the market are down. What a great combination!
Granted, sales in May 2010 only increased by one over 2009 but prices rose from an average of $607,255 in 2009 to $683,842 in 2010 – an increase of almost 10 percent.
Days on the market dropped from 32 in May 2009 to 22 in 2010. Overall we are seeing serious buyers coming to the market with the clear intention of buying for longevity. It’s a good thing.
| May (22301 zip) |
2009 |
2010 |
| Av. List Price |
$616,966 |
$683,336 |
| Av. Sold Price |
$607,255 |
$673,842 |
| Low List Price |
$379,900 |
$424,900 |
| Low Sold Price |
$371,250 |
$417,000 |
| High List Price |
$1,695,000 |
$1,575,000 |
| High Sold Price |
$1,695,000 |
$1,500,000 |
| # of Home Sales |
22 |
23 |
| Av. Days on Market |
32 |
22 |
Michael
| Currently No Comments »
Alexandria and Northern Virginia Real Estate Market Report for May 2010
June 9th, 2010 Categories: Market Reports, Real Estate News
The May 2010 Real Estate Market Report for Alexandria and Northern Virginia was released earlier this week by Coldwell Banker Residential Brokerage and the news continues to be good. Just like we said last month:
Sales are up, prices are up and days on the
market are down.
As Vicki Cox Golder, president of the National Association of Realtors (NAR) noted, there has been a change in market psychology.
“Buyer confidence is back and home buyers have long-term views. The typical buyer plans to stay in their home for 10 years, so we’ve put the ‘flipping’ mentality behind us and most people see housing for what it is – shelter that provides social benefits and is also a good long-term investment.”
Let’s take a closer look at what happened in The City of Alexandria:
- The number of May sales were up >6.6% from 196 in May 2009 to 209 in May 2010. Sales were also up 6.6% from April 2010.
- The median sales price was up>13.3% from $384,000 in May 2009 to $426,000 in May 2010. The price increase from April to May 2010 was 2.1%.
- The Days on Market (DOM) was down<6.5% from 46 in April 2010 to 43 in May 2010 and down<12.2% from the 49 DOM of May 2009.
- May YTD sales of 774 are running 9.0% ahead of last year’s year-to-date sales of 210. Excellent news!
For a more detailed look at the May 2010 market reports in your area of Alexandria or Northern Virginia, check out the locations below:
Alexandria
Arlington
Fairfax County
Fauquier County
Loudoun County
Washington, DC
We’ll be bringing you more information about specific neighborhoods – Old Town Alexandria, Del Ray/Rosemont/Temple Hills and Potomac Greens – in the next few days.
In the meantime, we’re going to use these great long summer hours to look for your perfect house.
Give me call at 703.927.4554 and let’s get started.
Michael
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April 2010 Real Estate Market Report for Old Town Alexandria in Zip Code 22314
May 18th, 2010 Categories: Market Reports, Real Estate News
The April 2010 Real Estate Market Report for Old Town Alexandria in Zip Code 22314 shows huge gains in the number of sales. April 2009 saw just 14 sales while the 2010 number jumped to 36, more than a 100% increase.
At the same time, the days on the market increased from 42 in 2009 to 84 in 2010 and the average price dropped by 6.5%. It’s hard to read any real trend into this report other than the fact that there is activity – and lots of it.
Folks are willing to play a bit with the numbers and agents are working to make deals happen. It’s taking a bit longer for properties to move but just this month strictures on jumbo loans loosened a bit so we may see a decrease in the DOM next month.
| April Old Town Alexandria 22314 |
2009 |
2010 |
| Av. List Price |
$713,193 |
$665,278 |
| Av. Sold Price |
$687,804 |
$643,111 |
| Low List Price |
$400,000 |
$312,600 |
| Low Sold Price |
$396,000 |
$320,000 |
| High List Price |
$1,449,000 |
$1,595,000 |
| High Sold Price |
$1,425,000 |
$1,510,000 |
| # of Home Sales |
14 |
36 |
| Av. Days on Market |
43 |
84 |
For detailed information on any of these transactions or for information on properties in zip code 22314, call me at 703.927.4554.
Michael
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April 2010 Alexandria Real Estate Market Report for Del Ray, Rosemont and Temple Park in Zip Code 22301
May 12th, 2010 Categories: Del Ray, Market Reports, Real Estate News
Last month we were pulling our hair out over the Alexandria Real Estate Market Report for Del Ray, Rosemont and Temple Park but the April 2010 numbers for zip code 22301 have restored our faith.
The actual number of houses sold is down 26 percent from 15 in 2009 to 11 in 2010 and the average price is down 10 percent – due in no small part to two million dollar sales in 09. The big news however is days on the market (DOM).
In 2009, houses were on the market an average of 61 days – in April 2010 that dropped to 5! This says to me that there is a pent up demand for houses and their are buyers with money.
We are even seeing listings now with a deadline for contracts, usually within one week of being listed. It’s a bold move and it seems to be working. These are all good signs of a continued rebound in the local market.
| April (22301 zip) |
2009 |
2010 |
| Av. List Price |
$646,613 |
$561,200 |
| Av. Sold Price |
$624,560 |
$562,286 |
| Low List Price |
$354,900 |
$368,000 |
| Low Sold Price |
$342,500 |
$360,000 |
| High List Price |
$1,275,000 |
$885,000 |
| High Sold Price |
$1,200,000 |
$885,000 |
| # of Home Sales |
15 |
11 |
| Av. Days on Market |
61 |
5 |
Are you ready to look for your next property? Give me a call at 703.927.4554 and let’s get started.
Michael
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Mortgage Market Continues to Improve in Alexandria and Northern Virignia
May 10th, 2010 Categories: Market Reports
Rob Clark, our go to person at Preferred Mortgage Group, tells us that the mortgage market continues to improve in Alexandria and Northern Virginia. Three key events back Rob’s optimistic outlook:
- PMI (private mortgage insurance) for conventional loans became easier to get, cheaper, and will now cover 95% loans in the Alexandria, Northern Virginia market place for any type of property.
- Rates on jumbo loans above $729,750 dropped and loans of up to $1,250,000 are now available with 15% down.
- Rates on all types of loans dropped below 5%.
For more details from Rob, click here.
Is the time right for you to buy? Give me a call at 703.927.4554 and let’s start looking for your new house.
Michael
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Alexandria and Northern Virginia Real Estate Market Report for April 2010
May 6th, 2010 Categories: Market Reports, Real Estate News
The April 2010 Real Estate Market Report for Alexandria and Northern Virginia was released earlier today by Coldwell Banker and the news is good!
Sales are up, prices are up and days on the market are down.
Some of this reflects a last minute surge to take advantage of the first time buyers tax credit but it also speaks to the resilience of the market in this area.
Let’s take a closer look at what happened in The City of Alexandria:
- The number of April sales were up > 14.1% from April 2009 and 30.9% from March 2010.
- The median sales price for April was up > 4.7% from April 2009 and 21.3% from March 2010.
- The average number of days on the market was < 47 (this is a good thing).
- YTD sales are 5.8% ahead of last year.
For a more detailed look at what is happening in your area of Alexandria or Northern Virginia, check out the locations below:
Alexandria
Arlington
Fairfax County
Fauquier County
Loudoun County
Washington, DC
We’ll bring you more information about specific neighborhoods in the next few days.
Look like it’s going to be a great summer for buyers and sellers alike.
Michael
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March 2010 Alexandria Real Estate Market Report for Del Ray, Rosemont and Temple Park in Zip Code 22301
April 14th, 2010 Categories: Market Reports, Real Estate News
The March 2010 Alexandria Real Estate Market Report for Del Ray, Rosemont and Temple Park – those neighborhoods in zip code 2301 – is not pretty. Seriously folks, the numbers are so bad that we think a squirrel must have gotten into our computer.
The actual number of sales is down 72% from 14 in 2009 to 4 in 2010 and the average price is down 14% for the same time period. The good news? The days on market (DOM) dropped from 46 in 2009 to 33 in 2010 or about 29%.
Truthfully, we aren’t too worried about the price drop because there were three million+ houses in the 2009 numbers while March 2010 didn’t see anything above $850,000.
It’s just the number of sales that has us shaking our head. But, we’re totally bullish that the number of sales will rebound next month. We’ve seen too many sold signs in the neighborhood to think any other way.
| March (22301 zip) |
2009 |
2010 |
| Av. List Price |
$719,336 |
$628,475 |
| Av. Sold Price |
$710,457 |
$614,150 |
| Low List Price |
$375,000 |
$415,000 |
| Low Sold Price |
$360,000 |
$414,100 |
| High List Price |
$1,375,000 |
$879,000 |
| High Sold Price |
$1,375,000 |
$850,000 |
| # of Home Sales |
14 |
4 |
| Av. Days on Market |
46 |
33 |
If you want more information about houses in zip code 22301, one of the great areas of Alexandria, give me a call at 703.927.4554, I’m waiting for you.
Michael
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