Archive for December, 2008
Happy New Year – Goodbye 2008, HELLO 2009!!!
December 31st, 2008 Categories: Alexandria Dirt, Arlington Dirt, Falls Church Dirt, McLean Dirt, Reston Dirt
I just want to wish all my readers, friends, clients and colleagues a very Happy New Year!
Have a safe night (I’ll be playing Wii on my couch) and let’s all look forward to an amazing 2009!
Best
Jennifer
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Colonial Village 2008 – A Year in Review
December 30th, 2008 Categories: Arlington Dirt, Condos, Home Buying, Home Selling, Market Stats
I thought this might be a good time to go over some sales statistics from 
some of the larger and more popular buildings, developments and neighborhoods in Arlington Virginia for 2008. Since I have previously written about Colonial Village, I thought it a good place to start.
Looking back at the condo sales in Colonial Village for 2008, there have been 24 units sold (settled) since January 1, 2008 which is 17 1–bedroom units and 7 2–bedroom units. Let’s first look at the 1–bedroom stats:
Average sales Price: $276K (highest was $286K, lowest was $239K)
Average (net) Sales Price as a percentage of list: 96%
Average seller subsidy: $5,000 (so expect about 2%)
Average Days on Market: 36 (however, the median was only 16 since there was 1 unit that took 196 days to sell)
Then – for the 2–bedroom stats:
Average Sales Price: $343K (highest was $364K, lowest was $315K)
Average (net) Sales Price as a percentage of list: 95%
Average Seller Subsidy: $3,700 (so relatively less than for the 1–bedroom units)
Average Days on Market: 44
As for right now, there are 6 1–bedroom units on the active market listed between $265K-$292K. There is only 1 2–bedroom unit currently available and it’s listed for $349K.
If you are interested in learning more about Colonial Village as a place to live OR if you’re interested in listing your home there, please give me a call to discuss.
Happy Tuesday
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! And remember, spring is RIGHT around the corner!
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Does the Real Estate Market REALLY shut down in December?
December 29th, 2008 Categories: Arlington Dirt, Home Buying, Home Selling, Market Stats
So here I sit, Christmas was last week and I hope everyone has enjoyed a
little down-time with family and friends. Whether you celebrate Christmas, Hanukkah or some other holiday, I hope you’ve had a chance to decompress a little bit – I have! But now is the time I look towards 2009 with excitement and a renewed energy – meanwhile, I’ve been wondering – does the real estate market REALLY shut down in December? So I did a little research…
Other than erratic blog writing, I’m not really sure I could have quantified what the real estate market does in December. Anecdotally, we’ve always said “there won’t be any new listings between Thanksgiving and New Year’s” and we say “nothing’s happening” and perhaps those are all excuses. Here’s what I learned…
Fact 1 – there were actually 39 BRAND new listings from December 15, 2008 through this moment. (compare that with 187 total in November and 278 total for October and so forth, so yes, it’s a relatively small percentage, but hey – there ARE actually NEW listings!)
Fact 2 – there were 23 contracts ratified between December 20 and December 26. That’s amazing!
So, (remember I said I did a “little” research) from this I can conclude that there are still new listings coming on the market and there are still buyers writing contracts. While we’re not seeing the volume of a typical spring month – I wouldn’t expect that. Considering my expectations were pretty close to nil, I would say we’re doing OK!
January is a great time for new beginnings. If you’d like to discuss your upcoming real estate needs, buying or selling, please give me a call. 2009 is going to be a GREAT year!
Happy Monday
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! And remember, spring is RIGHT around the corner!
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A Whole Lotta Stats – November 2008 in Arlington County Virginia
December 22nd, 2008 Categories: Arlington Dirt, Market Stats
I pulled these stats together last week and it only just dawned on me today that I never reported them. So here we go – hold on because there’s a lot to report today.
First, November of 2008 is almost exactly on track with November 2007 – the condo sales were a little slower, but all in all, with the financial meltdown that we’re going through – to see the numbers by comparison is very comforting. Here’s what we saw in Arlington for November 2008 home and condo sales:
to see how this compares with last year:
Pretty close, huh? Condos, as I said, are off – especially in what closed in November of this year – but all in all, I’d say we’re doing OK! Even our absorption rates look good:
Now, I’ve also been reporting to you on contracts written. It’s been interesting looking at this activity as it compares with weekly news – bailouts, interest rate changes, etc… For the week of 12/6–12/12 there were only 20 contracts ratified – I would say that’s about what I would expect as the year winds down, etc… but for LAST WEEK… as of now (and I usually wait until Tuesday or Wednesday) we’ve got 31 already recorded. I think that’s a direct result of the interest rate drop we’ve seen lately.
These are exciting times to be in the real estate market – whether you’re a seller, a buyer or an agent, like me, we continue to put one foot in front of the other and move along. It’s definitely not all gloom and doom out there in the real world. As always if you’d like to discuss it further, please don’t hesitate to give me a ring…
Happy Monday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! And remember, spring is RIGHT around the corner!
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