Archive for the 'Market Reports' Category
Real Estate Market Report for Alexandria and Northern Virginia November 2010
December 19th, 2010 Categories: Market Reports, Real Estate News
The Real Estate Market Report for Alexandria and Northern Virginia for November 2010 reflects a not unusual downturn in the number of sales as we move away from the hot summer months.
At the same time, prices continue to climb, reflecting a stability in the Alexandria/Northern Virginia housing market.
Let’s look at what is happening in Alexandria:
- The number of November sales (143) were down 24.7 percent from October 2009 (190) but 16.3 percent higher than the 123 sales in October 2010. November YTD sales of 1,729 are running 6.4 percent behind last year’s year-to-date sales of 1,847.
- The November median sales price of $445,000 was up 10.6 percent from the $402,500 in November 2009 and up 2.3 percent from October 2010.
- The average sales price in November was $469,315, up 7.1 percent from $438,386 in November 2009 and up 1.5 percent from $462,439 last month.
For a more detailed look at the October 2010 real estate market reports for Alexandria and Northern Virginia, check out the specific locations below:
Alexandria
Arlington
Fairfax Country
Faquier County
Loudoun County
Prince William
Washington, DC
For similar information reflecting sales in your neighborhood or development, give me a call at 703.927.4554 for a free, no obligation report.
Michael
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October 2010 Real Estate Market Report for Zip Code 22301 in Alexandria
November 16th, 2010 Categories: Del Ray, Market Reports, Real Estate News
Today’s market report reflects October 2010 real estate sales for zip code 22301 in Alexandria.
Covering the neighborhoods of Temple Park, Rosemont and Del Ray, the October figures show a decrease in the number of sales, a modest gain in prices and a dramatic drop in the number of days on the market from October 2009 to October 2010.
As always, these numbers must be seen in context. There were no million dollar sales in October 2010. In fact, only two of the homes sold in October were above $600,000 yet properties moved at a brisk pace, averaging just 37 days on the market. Well priced properties sell – period.
| October Del Ray, Rosemont, Temple Hills (22301 zip) |
2009 |
2010 |
| Av. List Price |
$513,964 |
$515,575 |
| Av. Sold Price |
$509,386 |
$510,563 |
| Low List Price |
$214,900 |
$195,000 |
| Low Sold Price |
$225,000 |
$187,000 |
| High List Price |
$829,000 |
$744,900 |
| High Sold Price |
$817,500 |
$745,000 |
| # of Home Sales |
14 |
8 |
| Av. Days on Market |
65 |
37 |
For more information on these numbers or your specific neighborhood, give me a call today at 703.927.4554 for a free market analysis.
Michael
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October 2010 Real Estate Market Report for Old Town Alexandria in Zip Code 22314
November 10th, 2010 Categories: Market Reports, Old Town, Real Estate News
We haven’t done specific zip code market reports in a few months but it seems like a good time to revive the practice. The October 2010 Real Estate Market Report for Old Town Alexandria in Zip Code 22314 shows gains in sales prices and a dramatic decrease in the number of days on the market.
October 2009 had 47 sales while October 2010 had a decrease of 22 percent with 37 sales. At the same time the average sales price in October 2010 increased 9 percent over sales in October 2009.
The biggest change was in days on the market with a 33 percent decrease (this is a good thing!) from October 2009 to October 2010.
| October Old Town Alexandria 22314 |
2009 |
2010 |
| Av. List Price |
$588,123 |
$648,254 |
| Av. Sold Price |
$575,012 |
$628,194 |
| Low List Price |
$239,000 |
$279,000 |
| Low Sold Price |
$215,000 |
$269,000 |
| High List Price |
$1,149,000 |
$1,970,000 |
| High Sold Price |
$1,149,000 |
$1,900,000 |
| # of Home Sales |
47 |
37 |
| Av. Days on Market |
92 |
60 |
For more details about what the market is doing in zip code 22314 or for a customized CMA (comparative market analysis), call me at 703.927.4554.
Michael
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Real Estate Market Report for Alexandria and Northern Virginia October 2010
November 8th, 2010 Categories: Market Reports, Real Estate News
The Real Estate Market Report for Alexandria and Northern Virginia for October 2010 was released yesterday along with the annual Housing Opportunity Pulse Survey from the National Association of Realtors (NAR).
The survey questioned Americans from across the nation on their attitudes towards homeownership.
The results? Homeownership still figures prominently in the American dream with nearly 8 out of 10 respondents believing that buying a home is a good financial decision.
According to NAR, pending home sales have increased for the second consecutive month, rising 4.3 percent to 82.3 based on contracts signed in August.
The data reflects contracts, not closings. A sale is listed as pending when the contract is signed but the transaction has not closed, though sales are usually finalized within 60 to 90 days from signing.
Those surveyed also agreed that job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery in the near future.
For those in a position to buy, it is a prime opportunity with historically low interest rates and a wide selection of homes that are more affordable than ever. NAR’s survey respondents agreed, with more than two-thirds of respondents (68 percent) saying that now is a good time to buy a home.
If you are currently in the market to purchase a home, be aware that industry insiders are watching inflation rates closely right now. If inflation rates begin to rise, then so will mortgage rates. If mortgage rates rise, it could price many buyers out of their dream home.
Let’s look at what is happening in Alexandria:
- The number of October sales (116) were down 33.3 percent from October 2009 (174) and down 0.9 percent from September 2010. October YTD sales are running 4.9 percent behind last year’s year-to-date sales of 1,657.
- The October median sales price of $437,000 was up 16.9 percent from the $417,662 in October 2009 but down 5.0 percent from September 2010.
- The average sales price in October was $471,910, up 13.0 percent from $438,356 in October 2009 but down 1.6 percent from $480,335 last month.
For a more detailed look at the October 2010 real estate market reports for Alexandria and Northern Virginia, check out the specific locations below:
Alexandria
Arlington
Fairfax Country
Faquier County
Loudoun County
Prince William
Washington, DC
So what’s the real deal? How should this data impact your home buying or selling decisions? Is the market stabilizing or flailing?
It’s times like these that I can provide you with the solid facts that are relevant to you, in your neighborhood.
I not only have the experience and knowledge to assist you, but I am in the local marketplace everyday and have access to pertinent local data that can help you make sound home buying and selling decisions.
Whether you are a home seller who needs professional guidance to price a property appropriately, or a home
buyer who needs a responsible representative who will lead you through the process, I can advise you, dissect those national headlines, and give you the right kind of information to help you make the decisions that are right for you.
For help navigating the local real estate landscape, call me at 703.927.4554. I’m here for you.
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Real Estate Market Report for Alexandria and Northern Virignia August 2010
September 9th, 2010 Categories: Market Reports, Real Estate News
The Real Estate Market Report for Alexandria and Northern Virginia for August 2010 was released earlier this week amidst dire news on the national level.
Any homebuyer or seller who reads the news headlines can become quickly disheartened or elated depending on which publication, blog, or news station they are following.
There is no doubt that conflicting information is being reported on the real estate industry on a daily basis.
The reported information is not necessarily false, but the reality is that real estate is a very local business. What is happening in regards to sales, pricing, or foreclosures nationally or even state-wide, may not be the reality in your community or your neighborhood.
Understanding how this information impacts you directly can also be difficult to navigate. The National Association of Realtors®, the leading source of information for the real estate industry, just reported that the national median existing-home price for all housing types was up 0.7 percent in July from a year ago; a very positive sign that home prices and the market have stabilized.
Yet completed transactions dropped 27.2 percent from June to July 2010, initiating news reports that the market is far from recovery.
To confuse matters further, some online real estate companies are launching programs that allow homeowners to pre-list their homes online to test whether or not they will sell and for what price.
The online community essentially weighs-in on the value of the property. Ultimately, these types of programs are forcing homebuyers and sellers to rely on non-professionals and strangers to advise them on one of their most important financial and life decisions.
Let’s take a closer look at what is happening in Alexandria:
- The number of August sales (143) were down 19.7% from (178) August 2009 and down 19.2% from July 2010. At the same time, August YTD sales are running 0.5% ahead of last year’s year-to-date sales of 1,327.
- The August median sales price of $417,000 was up>3.0% from the $405,000 in August 2009 but down 6.3% from July 2010.
- The average sales price in August was $463,580, up 5.8% from $438,356 in August 2009 but down 3.5% from $480,335 last month.
For a more detailed look at the August 2010 real estate market reports for Alexandria and Northern Virginia, check out the specific locations below:
Alexandria
Arlington
Fairfax Country
Faquier County
Loudoun County
Washington, DC
So what’s the real deal? How should this data impact your home buying or selling decisions? Is the market stabilizing or flailing? Are these online programs reliable or risky?
It’s times like these that I can provide you with the solid facts that are relevant to you, in your neighborhood.
I not only have the experience and knowledge to assist you, but in the local marketplace everyday and have access to pertinent local data that can help you make sound home buying and selling decisions.
Whether you are a home seller who needs professional guidance to price a property appropriately, or a home
buyer who needs a responsible representative who will lead you through the process, I can advise you, dissect those national headlines, and give you the right kind of information to help you make the decisions that are right for you.
For help navigating the local real estate landscape, call me at 703.927.4554. I’m here for you.
Michael
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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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May 2010 Real Estate Market Report for Alexandria Zip Code 22314
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
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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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