May 10, 2013 Leesburg, VA. 20175 and 20176 Wow, another great year for the Leesburg Market!  When we last visited the Leesburg market in November of 2012, it was coming out of the foreclosure/short sale market. Now, it's enjoying the strong market fueled by low inventory, coupled with low interest rates. Average sales price is up over 10%, total sales volume is up an astounding 37% and pending sales are up 6%. April 2012 April 2013 % change Avg. Sales Price $404,389 $449,9932 11% Avg. DOM 68 58 -14% Total Unit Sales 106 131 24% Active listings 354 298 -18% Pending Sales 229 243 6% Northern Virginia is enjoying the lowest inventory Read more [...]

May 6, 2013 The inventory of homes in Clarke County is down 13% from this time last year. The amount of new listings for March 2013 is almost 18% lower than March 2012. This is true of many areas in Northern Virginia. We are seeing fewer listings, which means that demand is increasing. The average days on the market has dropped to 102 days in Clarke County from this point last year when we were seeing an average of 148 days on the market. Although prices are slightly lower this month as compared to this time last year, the ratio of the sales price to listed price has increased from 87.5% to 88.2%. Statistic Values YoY MoM Total Sold Dollar Volume $4,483,750 -44.15% +94.32% Closed Read more [...]

May 3, 2013 Is it true that the market is recovering?  Well, based on reports that the Total Sold Dollar Volume is down from a year ago, and statistics showing that Northern Virginia has an incredibly low number of one month’s worth of inventory, all numbers support what we have been hearing in the news. The market is soon to be completely recovered, and this is a great news for Sellers! Days of homes on market are down by almost 50%, sales price is up 5%, and active listings are down 35%.  Not only that, but in Vienna, we’re seeing cash and conventional financing dominating the market as opposed to FHA financing, meaning that the average Vienna buyer is very well qualified.  The market is doing Read more [...]

May 1, 2013 In 20910, the median sold price for Detached properties for March 2013 was $600,000, representing an increase of 18.7% compared to last month and an increase of 15.4% from Mar 2012.  The average days on market for units sold in March was 86 days, 6% above the 5-year March average of 81 days.  There was a 31.3% month over month decrease in new contract activity, with 11 New Pendings; a 7.7% MoM decrease in All Pendings (new contracts + contracts carried over from February) to 24; and an 18.2% decrease in supply to 18 active units.  This activity resulted in a Contract Ratio of 1.33 pendings per active listing, no change from February, and an increase from 0.76 in March 2012. The Contract Read more [...]

April 26, 2013 There’s a new trend that’s sweeping Washington, D.C. and when you first hear about it, it might be confusing. But after further inspection, first bite actually, you will see it’s simply delicious. All across the capital fried chicken and doughnut shops have been opening. Sweet and salty. Seems like a mismatched pair, right? But when you really think about it, they have more in common than meets the eye. Both are fried, fantastic when piping hot, and both are a comfort food straight from your childhood. Plus, if you mix one and the other, they blend together into something so perfect, you’ll never forget the taste. But you can try them separately if you'd like. While several different Read more [...]

April 11, 2013 When you live near a metropolis, any talk of the arts has you thinking about the city. It’s where the best museums, galleries, stages and auditoriums tend to be. The suburbs, and especially rural areas are easily dismissed. You shouldn’t do that this weekend, when one of the area’s best gatherings of performers, dancers, painters and many others takes place. It happens out in Manassas, over 30 miles west of D.C. The event is Arts Alive!, Prince William County’s annual showcase of the art and culture they have to offer. Arts Alive! is an all-day affair, running Saturday from noon to 8 p.m. It takes places at the Hylton Center, the county’s gleaming new performance arts center, Read more [...]

April 9, 2013 The 20882 section of Gaithersburg is improving, ever so slowly.  Median Sold Price has inched up +6.86% to $538,000, and the Average Sold to Original List Ratio have had no change over the last month.  Condition and price are having a huge effect in this part of Gaithersburg. The 142 Average Days on Market number does not tell the complete story.  Days on the market continue to increase for properties that are overpriced and need work. The new well priced, aesthetically pleasing homes are moving quickly.  So I see this discrepancy as an opportunity for the investor or the savvier homebuyer, if reluctant Sellers are willing to finally lower prices. February 2013 Real Estate Market Statistics Read more [...]