Sterling, VA Market Report – 12/4/09

The following report represents the market conditions in Sterling, Virginia:

• Homes for sale: 426
• Closed sales: 121
• Average sold price: $352,288
• Average days on market: 45

The average sales price in Sterling keeps going up each month and is now 14.6% higher than one year ago. Also, the time it takes to sell a house in Sterling is less than half the time it was taking at the same point last year, when the average days on market was at 95 days. Available inventory is now 18.7% less than what a buyer had to choose from just a year ago.

Investors are an active part of the market and are competing with first-time buyers and causing price wars, which are driving up the prices again. Sterling is well-located to the employment centers of Tysons Corner, Route 28, and Route 7 Bio Tech Corridor.

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

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

Springfield, VA Market Report – 12/3/09

The preliminary figures for November in the Springfield, Virginia market continue to give some cause for optimism, yet also reflects some caution.

• New listings: 69
• Closed sales: 85
• Pending sales: 191
• Average sold price: $347,339
• Average DOM: 28

The number of pending sales increased by 60% from the previous month as buyers scrambled to take advantage of the tax credit, which was eventually extended to the end of April. New listings however, decreased by more than 50%, further reducing the available inventory. The average days on market (DOM) dropped from 42 days to 28 days. This time last year the days on market was over 100. So, these numbers all reflect a shift in the supply and demand, which will hopefully return the market to normalcy. Though, the average sales price decreased 3% from October, our biggest concern now is the lack of new inventory. There are buyers ready to move forward but the number of available homes presents a problem. Now is a perfect time for sellers who are looking to move up into a larger home. The low inventory, particularly in the entry market price range, allows sellers the best chance to get a quick offer at good price.

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

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

Meet Our People – The Match Masters: Albert Crider and Judy Radvanyi

At Avery-Hess, our people are our most important asset. Learn more about two of our best, Albert Crider and Judy Radvanyi, also known as The Match Masters, from our Tysons Corner, Virginia Regional Office.

Meet Avery-Hess – The Match Masters: Albert Crider and Judy Radvanyi from Amit Kulkarni on Vimeo.

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

Ashburn, VA Market Report – 12/2/09

Here’s a look at the latest market trends from Ashburn, Virginia:

• Homes for sale: 391
• Closed sales: 102
• Average sold price: $382,665
• Average days on market: 40

The average sales price took a huge dive from last month in large part because the majority of what was sold was comprised of lower priced properties. As a result, the average sales price dropped from $424,550 to $382,665. Common sense tells us that the market did not drop by 10% in one month. What we’re faced with now is a statistical anomaly that should smooth itself out over time.

In the meantime, almost any home priced under $350,000 in Ashburn is getting multiple contracts. The average days on market one year ago was 61 days, last month 43 days, this month 40 days; the trend is unmistakable.

Ashburn is convenient to numerous major transportation routes. Within a few years the Dulles Airport extension of the Metro rail will add one more transportation option to the many that already exist in the area. Numerous restaurants throughout the area give residents a large number of dining options to choose from. Every major chain and type of cuisine is represented in the area.

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

Avery-Hess Collects Toys For Tots

In our continuing efforts to give back to our community, please join Avery-Hess in supporting the Marine Toys for Tots Foundation

We are collecting new, unwrapped toys from November 29 through December 17, which will be distributed to local children in need.

Donations will be accepted in the lobby at our Tysons Corner office, located at:

2301 Gallows Road
Dunn Loring, VA 22027

For donation pick-up or assistance, please contact The Match Masters, Albert Crider and Judy Radvanyi via phone at 703-560-4567, or email at info@thematchmasters.com

Follow this link to view the flyer and for complete details.

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