Meet Our People – Oscar Rodriguez

At Avery-Hess, our people are our most important asset. Learn more about one of our best, Oscar Rodriguez from our Springfield, Virginia Regional Office.

Meet Avery-Hess – Oscar Rodriguez, Springfield, VA Regional Office from Amit Kulkarni on Vimeo.

Search for homes and learn more about Avery-Hess: www.averyhess.com

Ashburn, VA Market Report – 10/21/09

The statistics below reflect the market in Ashburn, Virginia:

• Homes for sale: 404
• Homes sold: 97
• Median sales price: $424,550
• Average days on market: 43

What is interesting in preparing our reports is that we always pull the current month, the previous month of this year, and the current month of one year ago. Looking at the average sales price progression: September 2008 – $412,727, August 2009 – $421,493, September 2009 – $424,550, we notice a steady upward march of average sales prices.

Prices are rising because supply is falling and consumer confidence is rising. All of the makings to lay the base for market stability.

Ashburn remains popular with buyers who favor excellent transportation and close proximity to Dulles Airport. The area also sports modern housing styles, a variety of retail and dining choices, and good employment prospects in Loudoun and Fairfax Counties. And golf. Yes, there are numerous public and private golf courses close by to Ashburn.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Ashburn, and all of the DC Metro: www.averyhess.com

Springfield, VA Market Report – 10/20/09

Most indicators for Fairfax County continue to show signs of improvement and Springfield is right in line with that prognostication. The recent highway improvements at the Mixing Bowl have made the confluence of the three major highways along the 1-95 corridor an important part of the future growth of the area. With the base relocation project forecasted to bring thousands of new jobs to Fort Belvoir, Springfield will surely see an influx of buyers moving to the area. It appears that through three quarters in 2009 the housing market has continued to improve and opportunities for both buyers and sellers are available. The following are significant statistics for Springfield in September:

• Active listings: 300
• Closed sales: 93
• New listings: 117
• Pending sales: 103
• Average sales price: $371,264

As with most areas in Northern Virginia, the available inventory of housing has declined from previous years. The number of units sold in September was down 8% from 2008, but the average sales price was up by nearly 4%. The average days on market declined dramatically by 30% from last year. These last three statistics are significant for buyers and sellers. The amount of inventory is down (supply) and the average sales price is up (demand). Buyers are facing multiple offer situations so they must be aware of what they are competing against. For sellers, the low inventory translates to less competition and houses are selling 30% faster. Properties are being sold at 95% of the original list price, up 2% from last year. Conditions at this time reflect win-win situations for buyers and sellers. Be sure to contact your Avery-Hess Realtor to get all of the up to date information you need to help you make the most intelligent and informed real estate decisions.

Market data and commentary by Charlie Carroll, Managing Broker at Avery-Hess, Realtors.

Search for homes in the Springfield, and the rest of the DC Metro: www.averyhess.com

Manassas Park, VA Market Report – 10/19/09

The following statistics represent the market conditions in Manassas Park, Virginia for the month of September, 2009:

• New listings: 37
• Closed sales: 38
• Median sales price: $144,500
• Average DOM: 63

Year-to-date,  Manassas Park has had 385 new listings, a total that is down almost 47% from last year. On the other hand, closed sales have actually increased by almost two percent, and the median sales price has risen one percentage point.  Properties are being sold for a little more than 96% of the original property list list price, up by 6% from last year.  Also, the average days on the market (DOM) has decreased by 28%.

Manassas Park is an independent city that is located between the City of Manassas and Prince William County in Northern Virginia. The city is close to Route 28 and I-66, granting easy access to Fairfax and areas north.  Manassas Park is also very close to the Prince William County Parkway, providing access to Woodbridge, I-95 and points south.  New construction within the city now offers luxury apartments and condos, town center style shopping, and new retail stores–allowing Manassas Park to feature the latest attractions, yet maintain a small town feel.

Market data and commentary provided by Steve Mayes, Managing Broker, Avery-Hess, Realtors.

Search for homes in Manassas Park, and all the DC Metro: www.averyhess.com

Silver Spring, MD Market Report – 10/16/09

Silver Spring comprises most of the eastern third of Montgomery County, Maryland. In the southern half of Silver Spring the housing stock is older and more urban in feel, influenced by the revitalized downtown areas of Silver Spring and Wheaton, which are both serviced by Metro stations on th  Red Line. There are many great retailers and restaurants, including major chains and specialty and ethnic restaurants. Transportation into Washington, DC is very good as it is served by many major access roads, buses, and Metrorail. There are  single family homes of all sizes, ages and styles in Silver Spring, as well as townhouses and condominiums.

The following is a recap of the current conditions in the Silver Spring, Maryland housing market:

• Homes for sale: 1,243
• Closed sales: 213
• Average sales price: $333,335
• Average days on market: 76

Available inventory in Silver Spring is down 29% from the same time one year ago and the time it takes to sell a house has dropped from 132 days to 76. Increasing consumer confidence is largely to be credited for the improving sales data.

Silver Spring has numerous cool things to do and see. One that I will highlight here is the National Capital Trolley Museum on Bonifant Road, between Layhill Road and New Hampshire Avenue.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com

Vienna/Dunn Loring, VA Market Report – 10/15/09

The table below represents the current market in Vienna and Dunn Loring, Virginia:

The Vienna and Dunn Loring housing market is definitely showing signs of stabilization. With active inventory down almost 12% in September, we see the time on market and average sales prices holding pretty consistent to last year’s levels. Even better, we see more homes being sold, with just over 13% more than the same time last year. Seeing a little uptick in the average sales price mirrors what we are seeing across the area–distressed properties are being absorbed and more regular sales are occurring. At this time, however, we still see a significant number of short sales, but the banks are more willing to deal with them to prevent expensive foreclosures. Because of this, we are seeing more successful closings of short sale properties. This is also helping to stabilize the market.

Finally, buyers trying to take advantage of the “First Time Homebuyer” tax credit are increasing the demand on properties. At this point, there is less than 45 days for people to take advantage of this, and I expect that we will continue to see high demand until it expires at the end of November.

The great thing about the market now is buyers are getting very good value on their purchases, and since there are buyers out in the market, sellers are actually able to sell their homes. It is refreshing to see, and I would encourage both buyers and sellers to get in the market as soon as possible to take advantage of the current conditions.

Market data and commentary provided by Tom Conner, Managing Broker, Avery-Hess, Realtors.

Search for homes in Vienna, Dunn Loring, and all of the DC Metro: www.averyhess.com