Avery-Hess, Realtors Blog » Tysons Corner

McLean/Tysons Corner, VA Market Report – 1/11/2012

Kristin Maynard — Thu, 12 Jan 2012 01:50:44 +0000

They say the only thing constant is change.

Tysons Corner is going through changes and there is no doubt about it as you pass by on the Beltway. Just when you think you’ve gotten the roads figured out, they change. But don’t worry, this too shall pass. Since the only thing constant is change and change is good, you can bet Tysons Corner will be bigger and better than ever when construction is complete and the metro system is in place.

The figures below might be an indication of the holiday traffic conditions in the Tysons Corner area during December. It shows a slight drop in total revenue from the month before. While the number of units sold came down slightly, the average sales prices have increased.

	December 2011	December 2010	November 2011
Total Revenue	$29,477,490	$29,810,353	$29,990,700
Average Sold Price	$823,796	$689,000	$685,213
Units Sold	36	43	44
Days on Market	93	81.5	50.5
Active Listings	131	164	158
New Listings	25	33	48
Pending Sales	58	58	74

With interest rates at an all time low and ongoing plans to make Tysons Corner a walkable, sustainable, 24-hour urban center where you’ll live, work and play; people are going to take advantage of these wonderful market conditions and buy in the Tysons Corner area. It’s an exciting, dynamic place to live and will only get better with time. It’s going to be a place where you can have it all – business, shopping, entertainment and right now, affordable housing. “Work to live!”

Want to see what’s available? Contact us at AveryHess.com.

Market data and commentary provided by Charlie Carroll and Pattie Mancini

McLean/Tysons Corner, VA Market Report – 10/24/2011

Kristin Maynard — Mon, 24 Oct 2011 16:10:46 +0000

If you have driven around the Beltway through Tysons Corner recently you may have had plenty of opportunity to observe the degree of construction as you crawled along through narrowing lanes and gridlock, and changing exit ramps.

The work on the HOT lanes continues as the landscape once so familiar turns more and more to concrete and fewer trees. Simultaneously the Silver line extension of the Metro moves along despite the reported $150 Million over budget. How has all of this disruption impacted the real estate market in Fairfax County’s downtown?

	September 2011	September 2010	August 2011
Total Revenue	$31,481,000	$33,394,596	$51,949,026
Average Sold Price	$771,367	$798,679	$806,108
Units Sold	49	42	64
Days on Market	54	53	84
Active Listings	202	263	201
New Listings	72	87	72
Pending Sales	55	77	77

The total revenue and average sold price was down slightly from a year ago but was down significantly from the previous month.

It is best left to the professional prognosticators and economist to examine the causes for the flux in the market. In the meantime the real estate professionals continue to serve their clients in the best way possible in this ever challenging environment.

Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.
Search for homes in McLean, Tysons Corner and all of the DC Metro: www.averyhess.com

McLean/Tysons Corner, VA Market Report – 8/10/2011

Kristin Maynard — Wed, 10 Aug 2011 18:57:55 +0000

Tysons remains the vibrant center of business and shopping in Fairfax County; despite the traffic congestion and the continuing road construction for the widening of the beltway and the Metro extension to Dulles.

Perhaps with an eye towards the future, when all of the projects are completed, people are buying homes in the Tysons Corner and the surrounding neighborhoods.

Comprised of 3 different zip codes, the Tysons area has remained overall stable year over year, with 22180 seeing declines in total volume and average sales price, but 22043 seeing significant gains in both categories.

The statistics for July 2011 are relatively unchanged from 2010.

Total Volume	$58,509,126
Units Sold	87
Average Sold Price	$660,967
Days on Market	51

It will still be several years before the road & Metro projects are completed, but as much as Tysons Corner is the center of business and commerce today, the future promises great opportunities for those who act now.

If you are considering purchasing now is the absolute best time. Prices and interest rates are at historic lows. While the Fed has indicated that rates will remain low for a few years, the price of housing is certainly going to increase.

If you bought gold in 1996 for $400 an ounce you were probably depressed in 1999 when it dropped to $250. How delighted you are today when it reached $1700.

The housing market is cyclical and historically always rebounds. It may have taken longer this time around but it definitely will again.

Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.
Search for homes in McLean, Tysons Corner and all of the DC Metro: www.averyhess.com

McLean/Tysons Corner, VA Market Report – 3/30/2011

Kristin Maynard — Wed, 30 Mar 2011 20:38:10 +0000

February and early March have seen a downturn in the real estate market throughout much of Northern Virginia due to several factors, not the least being the colder than average winter weather. Tysons Corner, the shopping and employment center and unofficial downtown of Fairfax County did not escape this trend. Another major factor for the Tysons Corner area is the massive amount of road construction for the Beltway HOT lanes and the expansion of the Metro.

The number of units sold was approximately the same as the previous year but the average sales price was down more than $90,000.

	2011	2010
Units Sold	30	33
Avg. Sold Price	$626,628	$720,651
Avg. Days on Market	100	52
Active Listings	154	207
Pending Contracts	75	84

Hopefully, since the calendar indicates the arrival of spring, we will have improved weather conditions but the road construction issue will remain for quite some time. While residential real estate seems to be lagging, the commercial market is gearing up and building construction continues. There is no doubt that the residential market will once again be robust as Tysons Corner becomes accessible by Metro.

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

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

McLean/Tysons Corner, VA Market Report – 2/9/2011

Kristin Maynard — Wed, 09 Feb 2011 19:47:27 +0000

A popular community in McLean, Tysons Corner is home to a major shopping mall of the same name and its upscale sister mall, Tysons Galleria. Tysons is considered the “downtown” of Fairfax County since one quarter of the county’s office space and one eighth of its retail space is located there. And as the Metro Silver line construction is completed those numbers will grow considerably.

Surrounded by every conceivable amenity, homeowners and business owners in Tysons will find the very best in shopping, dining and recreation. The year-end statistics for Tysons indicated the total sales volume was down by 36% in December from the previous December. The average sales price however was up nearly nine percent.

Total Sales Volume for December	$11,535,500
Average sales price	$678,559
Average days on Market	83
Total properties under contract	22
Total New Listings	25

Construction on the Metro Silver Line and the I-495 Hot Lanes will continue for a few years. Congestion is typical on the Tysons roadways. Nonetheless, Tysons Corner real estate is some of the most desirable in Northern Virginia. There are beautiful neighborhoods, great schools, and easy access to many major highways. Many homes in the area have doubled in value in the last 5 years, and though the general market conditions for the county have suffered, Tysons remains a strong option for the savvy buyers.

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

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

Casual Fridays for Haiti Relief (Video Update)

Amit Kulkarni — Thu, 28 Jan 2010 22:23:28 +0000

Lindsey Jones, the Administrative and Marketing Assistant at Avery-Hess’ Tysons Corner office, has coordinated a fundraiser to help people affected by the earthquakes in Haiti. The fundraising efforts have expanded to all of the Avery-Hess, Realtors regional offices and will continue through February 19, 2010. Here is Lindsey with more details:

Avery-Hess: Casual Fridays for Haiti Relief from David Tra on Vimeo.

Visit the American Red Cross to find out more about how you can help the victims in Haiti: www.redcross.org

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

Casual Fridays for Haiti Relief

Amit Kulkarni — Mon, 25 Jan 2010 20:57:15 +0000

At Avery-Hess, Realtors we follow the weekly tradition of Casual Friday when agents and staff may dress-down on the final day of the workweek. However, in light of the recent earthquakes in Haiti which have claimed thousands of lives and displaced thousands more, we hope to turn this weekly routine into something to help others.

Starting this week, our Tysons Corner regional office will collect donations from Casual Friday participants. For every pair of jeans or casual attire worn, we are suggesting a $5 donation. Bring donations to Lindsey Jones, the Administrative and Marketing Assistant at the Tysons Corner office, and she will give you a ribbon for your support. This practice will continue for the next four weeks, then Lindsey will send the donations to the American Red Cross for disaster relief. We hope to get as many members of the Tysons Corner office to take part in the Casual Friday donations, and encourage everyone else to find ways to help those in need, whether in Haiti or elsewhere.

For more information about the Casual Friday donations, contact Lindsey Jones at 703-821-5005 x103 or tysons@averyhess.com.

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