2009 November | Avery-Hess, Realtors Blog

Archives November, 2009

Alexandria, VA Market Report – 11/6/09

The market statistics for October are remarkably similar to those in September for the City of Alexandria, Virginia:

New listings: 239 (-1%)
Total active listings: 478 (-1%)
Under contract: 79 (-1%)
Closed sales: 164 (+1%)

Last month we were hearing that discussions were underway in Congress to extend the First Time Homebuyers Tax Credit. Well, it’s official now. The Senate and House have passed the bill and this afternoon the President signed it through. In addition to extending the existing credit, it has also added a provision for “step-up” buyers, that is, those who have lived in their homes for at least five consecutive years and are looking to move to a new home. This credit is for $6,500. The extended time allows for purchaser’s to be under contract by April 30, 2010 and settled by June 30, 2010.

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

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

Leesburg, VA Market Report – 11/6/09

The data below describes the market conditions in Leesburg, Virginia

Homes for sale: 571
Closed sales: 88
Average sales price: $400,991
Average days on market: 66

The average sales price of $400,991 is up 15% from the same time last year. Meanwhile the median sales price of $344,000 is up 6.9% from the same period one year ago. The selection of houses available to purchase has been reduced by 26% from one year ago and is up 5% from last month. Interest rates of approximately 5.25% and today’s prices keep the affordability index very high for both first-time and repeat buyers. Buyers are out in force to take advantage of these favorable trends.

Leesburg has a tremendous selection of retail opportunities in the Leesburg Corner Premium Outlets at the intersection of Route 7 and Route 15 in Virginia. White’s Ferry is just north of Leesburg off of Route 15 and connects Loudoun County, Virginia with Montgomery County, MD. Taking the Ferry makes for a low stress way to reduce driving between Maryland and Virginia; especially now with the changing colors of the leaves in the fall.

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

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

What Are Agents Saying About Avery-Hess?

In recent months, Avery-Hess, Realtors has undergone some changes throughout the company.

We’ve seen some personnel changes, along with the relocation of our Front Royal office. However, these changes are just part of the bigger picture here at Avery-Hess. Last month our President, Scott Avery, issued a letter to all of our employees and agents, which described the company’s overall vision and plan.

In his letter, Scott expressed our company’s focus on three main areas: customers, innovation, and long-term thinking. Concentrating on our customers—both sales associates and the public—lends itself to innovative and long-term thinking, which will lead to profitability and sustainability.

So given these changes and new company outlook, just what are our agents saying about Avery-Hess?

Scott, I concur wholeheartedly with your vision of the future and your decisions to move truly into the “new era.” I’m with you 100%. (J.A.)

Now when I tailor my listing appointments to replicate these significant changes, I have something [that sets me apart] (K.S.)

Bravo! I can tell there was a lot of forethought and serious deliberation [in determining our new direction]. [This is a] great inspiration for more success in the future. (J.S.)

Well put. Not every company and its leaders understand the importance of the “internal” customer and how to best optimize and manage that. (F.I.)

These are exciting times for Real Estate and exciting times for Avery-Hess. To learn more, visit www.averyhess.com or contact Scott Avery at savery@averyhess.com or Amit Kulkarni at akulkarni@averyhess.com.

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

Kensington, MD Market Report – 11/2/09

The following statistics represent the market in Kensington, located within Montgomery County, Maryland:

Homes for sale: 81
Closed sales: 14
Average sales price: $579,868
Average days on market: 71

With their close proximity to the District of Columbia, homes in Kensington maintain a high average sales price. In fact, the average sales price in Kensington this year is 8% higher than at the same time last year. Kensington did not experience the large number of foreclosures that many outlying suburbs have, so its home values have held up well and even slightly increased. Though many of the neighborhoods were built through the 1940s, 50s and 60s, some of the original houses have been torn down and new homes have been built on those same lots because of the great location. Meanwhile, other houses have had additions and extensive remodeling done instead. Consequently, there can be great variation within any given neighborhood.

One of the things locals know about Kensington is Antique Row, which is on Howard Avenue in the commercial section of Kensington. It is a great place to spend a day looking for treasures.

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

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

Meet Our People – Seema Rodriguez

At Avery-Hess, our people are our most important asset. Learn more about one of our best, Seema Rodriguez from our Montgomery County, Maryland Regional Office.