May 21, 2013 The number of closed sales increased 57.69% from last year, and the days on the market is down 31.82%, which indicates that homes are selling more quickly than in the past.  Average prices are down 6.07%, which indicates more competition from the increase in homes on the market.  The largest sector of purchasers paid cash for their homes, but all other financing options are represented as well. Statistic Values YoY MoM Total Sold Dollar Volume  $6,012,349 +48.11% +121.26% Closed Sales    41 +57.69% +115.79 Median Sold Price $125,000 -12.28% -13.73% Avg Sold Price $146,643 -6.07% +2.54% Avg Days on Market 60 -31.82% -22.08% Avg Sold to Read more [...]

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 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 [...]

March 29, 2013 The real estate market in Eastern Prince William County is definitely in a "Seller's Market Zone" due to the lack of available homes for sale.  Sellers are staying put, buyers are trying to take advantage of low interest rates but cannot find a home to purchase.  Welcome back multiple offers on fairly priced homes in good condition!!  Even the homes that are not in good condition have investors swarming over them with cash offers. Compare home sales for Lake Ridge in February 2012 to home sales in February 2013: The number of available homes for buyers to purchase is down 29.93%  Low Inventory New listings on the market in Sept. is down 15.96%  Low Inventory Homes under contract Read more [...]

March 18, 2013 Focusing in on the Rockville 20851 zip code shows a very tight market.  New Listings are down -35.7% from January 2013 but up +28.6% in comparison to February 2012.  For a total of 7 New Listings this February our increase is really not that significant and continues to be reflective of a Seller’s Market. New Pending Contracts in February 2013 landed at 8.  This number is down --57.9% from January of this year and also down in comparison to February 2012, another sign of our low inventory market.  Fewer listings mean fewer pending deals. February 2013 Real Estate Market Statistics for 20851 Rockville, MD Statistic Values YoY MoM Total Sold Dollar Volume $2,666,499 +268.3% -3.14% Closed Read more [...]

March 7, 2013 It’s March, which means that one holiday is about to paint everyone’s calendar green. And although St. Patrick’s Day isn’t for another week-and-a-half, that doesn’t mean festivities haven’t already begun throughout the area. The theme for several celebrations this weekend is walking and drinking, with bar crawls in both Dupont and Arlington. The bigger of the two, and the most unique, is the D.C. Whiskey Walk. The event is a combination of a walking tour of D.C. bars (mostly Irish) and whiskeys (all Irish). It kicks off this Saturday at the Board Room, one of D.C.’s newest bars. Alongside the drinks, you'll find may of your favorite childhood games: from Connect Four to Read more [...]

February 21, 2013 There is no doubt about it.   If you're thinking of selling... NOW IS THE TIME TO LIST YOUR PROPERTY FOR SALE! Property values are increasing and your home may be worth more than you think.  With the time it takes to sell a home decreasing, most homes are going under contract in less than 60 days.  You'll be able to get the best price for your home in the least amount of time.  A seller's dream come true! You'll notice that the inventory for homes is at an all-time low.  By putting your home on the market now, you'll be ahead of all the homes traditionally being listed during the spring market.   Why wait when all indications say now would be a good time to sell your home. January Read more [...]