The City has a rejuvenated and revived Old Town section, with many new and diverse restaurants offering a selection from handmade hamburgers to gourmet and ethnic foods. It’s a great place to visit.  Click the link to learn more http://www.visitmanassas.org/camera/

Let’s take a look at the stats for August:

This a very small community that realized a huge number of foreclosures and short sales in 2010, hence the great difference in the median and average sold price for these 2 years.  Now, the market has stabilized and numbers fall more in line.  Much as Prince William County has recovered so has the city of Manassas.

Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office

All indications are showing that the Sterling market will enjoy a steady increase in value.  The loss of the Federal Income tax credit has had a definite influence on the number of sales, due primarily to the price range which is very favorable to 1^st time buyers.

Commentary and analysis provided by Jim Agnew, Avery Hess, Realtors, Dulles/Westfields Regional Office
Search for homes in Sterling, VA and the entire DC Metro:www.averyhess.com

See the details for Sterling below:

• Homes for sale: 169 for sale in January (Way down from the 234 for sale at the end of December and down from 205 in January last year.)
• Homes sold: 71 sold in January. (Down from 76 in December and 76 in January last year when there was tax credit in place.)
• Median sold price: $291,833 (up from $281,917 in December and $276,500 one year ago.)
• Average days on market: 52 (way up from 39 days one year ago)

Last year at this time we still had a homebuyer tax credit in place, and the comparisons are still hard to match.

Are prices falling? With stable employment and low interest rates, I cannot imagine why prices would not be stable. Sterling is still way above the December lows of two years ago. Sterling has a great housing stock of all sizes, prices and ages. At the present rate of sales and inventory, Sterling has less than a three months supply of homes, and six is considered a balanced market. So prices should be jumping like crazy.

Commentary and analysis provided by David Hess, Executive Vice President.
Search for homes in Sterling, VA and the entire DC Metro:www.averyhess.com

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.

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

• Homes for sale: 360 for sale in December (Way down from the 478 for sale at the end of June, July and August and down from 374 in December last year.)
• Homes sold: 77 sold in December. (Down from 121 in December last year when there was tax credit in place.)
• Average sold price: $330,012 (down from $364,091 one year ago.)Average days on market: 56 (way up after having been in the high 30s all year and was 39 days one year ago)

Last year at this time we still had a homebuyer tax credit in place. So the comparisons are hard to match.

Are prices falling? One month does not make a trend so we will see what the rest of January brings. With stable employment and low interest rates, I cannot imagine why prices would not be stable. Sterling is still way above the December lows of two years ago. Sterling has a great housing stock of all sizes, prices and ages. At the present rate of sales and inventory, Sterling has between a four and five-month supply of homes, and six is considered a balanced market.

Commentary and analysis provided by David Hess, Executive Vice President.
Search for homes in Sterling, VA and the entire DC Metro: www.averyhess.com

With the eastern part of the county located on the I-95 corridor it gives a straight commute to Washington, DC and with the western part of the county located close to the Dulles Airport, the county remains very popular for reasonably priced homes.

Home to one of the most beautiful new buildings in the area, The Hylton Center for Performing Arts has been likened to the Sydney Opera House.

Prince William was one of the hardest hit counties in the area when the market took the turn for the worse and although new listings and closed sales are down from last year, the median sales price is up which is very encouraging.  Below is a snapshot of activity in our area for last month with a comparison to the year before.

November

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

Search for homes in Prince William County, and all the DC Metro: www.averyhess.com

• Homes for sale: 466 (down from 495 in September and up from 391 one year ago)
• Homes sold: 90 (down from the 101 units in September and down from last year’s 102 units)
• Average sold price: $410,646 (down from $445,265 last month but still up from $382,665 last year)
• Average days on market: 50 (amazingly stable in the 40-50 day range for the last year)

When you read in the paper about falling real estate prices nationwide, they are NOT talking about Ashburn.  This area has had steadily rising prices for almost two years now. Not only are the prices stable to rising, it is also a genuinely great place to live!

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

• Homes for sale: 570 (down a little from 585 in August and about the same as 571 one year ago)
• Homes sold: 87 (about equal to 86 last month and 88 one year ago)
• Average sold price: $410,491 (down from 431,213 in August but up from $400,991 same time last year.)
• Average days on market: 57 (down from 63 in August and down from 66 one year ago.)

One year ago the sales were influenced by the First Time Homebuyer Tax Credit. This year’s numbers are without benefit of a tax credit. Proof that buyers do not need stimulus from the government to know a good value when they see it and here in Leesburg it can’t be missed!
Interest rates are in the 4s. Is now a good time to buy? You decide.

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

• Homes for sale: 478 for sale at the end of June, July and August (compare to 443 one year ago.)
• Homes sold: 86 sold in September. (Down from 98 in August. And down from 132 one year ago when a homebuyer tax credit was in place.)
• Average sold price: $335,573 (similar to the August level of $335,137, but up from $304,717 one year ago.)
• Average days on market: 38 (very stable, been in the high 30s all year and was 49 days one year ago)

Personally I would rather see a stable market than a rising or falling market. A stable market gives a buyer the opportunity to take their time and enjoy the excitement of buying a new residence. No need to be in a rush or have to compete with a throng of other buyers bidding up the prices. No auction or greed mentality. The buyer and seller can each negotiate on the price and terms and each can feel at an equal amount of anxiety wondering if they can come to an acceptable agreement. And both can do so without any prodding or need for incentives from the government.

Commentary and analysis provided by David Hess, Executive Vice President.
Search for homes in Sterling, VA and the entire DC Metro: www.averyhess.com

• Homes for sale: 494 (same as in August and up from 404 one year ago)
• Homes sold: 101 (down from the 117 units in August but up a smidge from last year’s 97 units)
• Average sold price: $435,266 (down from the statistical spike of $460,373 in August but up from $424,550 last year)
• Average days on market: 47 (amazingly stable in the mid 40s for the last year)

Ashburn is a very stable market based on the stats and what agents are telling me. After the financial panics, people get back to the basics and ask, “where is a good place to live?” Then they go buy a home there. This is exactly what we have seen in Ashburn for the past 21 months since prices bottomed in November 2008.

The market place has normalized in the absence of any more government intervention. Hello Congress did you hear that! Consumers can actually make good decisions on their own.

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com