Housing Inventory Snapshot – October 2016

This month the 30 Days Trend column for the Average Days on Market shows a stagnation in a timeframe that is historically active for Loudoun, Fairfax, and Arlington Counties. Probably more interesting is the large number of properties on the market in Fairfax County across all price categories. This supports our anecdotal perception that through October there has been a lot of inventory and the buyers are being very choosey. It does appear that the end of the political season has resolved questions that were keeping buyers on the fence. In the last week listings of ours that were getting virtually no traffic in Great Falls, Fredericksburg, North Reston, Herndon, and Vienna have had a dramatic increase in showing activity, two of the six are now under contract and offers submitted or pending on two more.

Please let us know if you need our help with anything real estate related.

2016-1114-housing-inventory-snapshot Continue reading

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Meals Tax Could Drop Your Property Value

meals-tax-sticker
Vote No on Meals Tax on November 8th

On your ballot Nov. 8th you will find a referendum vote on whether or not to add a 4% Meals Tax to the existing Sales Tax of 6%. Let’s examine how this can impact your life as a property owner or prospective buyer in Fairfax County.

It is commonly accepted that real estate values are fluid and tied to changes in the market. Of course there are still those who believe that their property has inherent value based on an array of anecdotal indicators such how much they paid for it, how much they have put into it, or even how much they love it. The truth is that the only indicators that will really determine the value of your home in a competitive sales market are Location, Condition, and a Comparable Market Analysis. The reason I point that fact out is to establish a baseline for my argument that a Meals Tax increase to a net 10% could effect property values and hence your return on investment.

Housing Inventory Snapshot – April 2016

We hope you will find the following snapshot of April’s inventory statistics for the various regions and property types/values in our Northern Virginia Real Estate market informative.

This snapshot features new data points that we introduced last year. They show the trend of changes across several categories from 30 days prior. This can be a good way to lend some perspective to the numbers, bearing in mind that the natural life-cycle of the seasonal markets influence statistics heavily causing some months to be inherently more active than others as we have discussed previously.

2016-0511-housing-inventory-snapshot

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Regional Sales Continue to Increase…

The Washington, D.C. Metro Area housing market continued to see increases in closed and pending sales in October, with pending contracts at the best levels in a decade.  Median sales prices were comparable to both last year and last month [but showed a decline in the year over 5 year average].  Inventories continue to grow, driven by the highest October level of new listings since 2007, but at a continually slowing rate.

Key HousingTrends Metrics - DC Metro Area
With 12,676 active listings at the end of October, inventories increased for the 25th consecutive month.

…Year-to-date there have been 42,616 closed sales across the region, which is up 9.5% compared to last year, and all jurisdictions show increases in the number of sales compared to last year.

Median Sales Prices by Location - DC Metro Area
Median Sales Prices by Location – DC Metro Area

To read more, check out the article here: Full Article from RBI

Please let us know if you need our help with anything real estate related.

HOUSING INVENTORY SNAPSHOT – OCTOBER 2015

We hope you will find the following snapshot of October’s inventory statistics for the various regions and property types/values in our Northern Virginia Real Estate market informative.

This snapshot features new data points that we introduced earlier this year. They show the trend of changes across several categories from 30 days prior. This can be a good way to lend some perspective to the numbers, bearing in mind that the natural life-cycle of the seasonal markets influence statistics heavily causing some months to be inherently more active than others as we discussed last month.

This month the 30 Days Trend column for the Average List Price could raise a few eyebrows. October will usually have a strong showing when compared to August and November, and in all regions other than Arlington, the table appears to be set for that to play out. Showing insignificant reductions or increases across all price ranges and property types in all regions except Arlington where all price ranges and property types showed a reduction in average list price.

Please let us know if you need our help with anything real estate related.

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Housing Inventory Snapshot for October 2015

HOUSING INVENTORY SNAPSHOT – AUGUST 2015

We hope you will find the following snapshot of August’s inventory statistics for the various regions and property types/values in our Northern Virginia Real Estate market informative.

This snapshot features new data points that we introduced a few of months ago. They show the trend of changes across several categories from 30 days prior. This can be a good way to lend some perspective to the numbers, bearing in mind that the natural life-cycle of the seasonal markets influence statistics heavily causing some months to be inherently more active than others as we discussed last month.

Again this month the 30 Days Trend column for the Average DOM (Days On Market) active/sold is a good illustration of how August will usually behave, with the number of days on marketing growing and average prices dropping,

Please let us know if you need our help with anything real estate related.

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Housing Inventory Snapshot, August 2015

Housing Inventory Snapshot – March 2015

We hope you will find the following snapshot of March’s inventory statistics for the various regions and property types in our local Real Estate market informative.

This snapshot features a new data point, showing the trend of changes across several categories from 30 days prior. This can be a good way to lend some perspective to the numbers, bearing in mind that the Spring market has a natural life-cycle so some months are inherently more active than others. The 30 Days Trend column for the Average Days On Market active/sold is a good illustration of how March will usually behave, with properties moving faster than in February.

Please let us know if you need our help with anything real estate related.

Housing Inventory Snapshot for March 2015
Housing Inventory Snapshot for March 2015