Posts Tagged ‘housing market trends

20
Feb
13

January Housing Market Statistics for McLean, Virginia 22102

January Housing Market Statistics for McLean, Virginia 22102

 Statistic Values YOY MoM
Total Sold Dollar Volume $26,458,510 +34% +18%
Closed Sales                 25 39% +14%
Median Sold Price       $610,000 -33% – 27%
Avg Sold Price    $1,058,340 –  4% +3.5%
Avg Days on Market     112 days -19% +15.5%
Avg Sold to Orig List Ratio       94.65% + 8%   – 3%
Inventory
13-Jan 12-Jan %  Change
Active   Listings
65 86 -24%
New Listings 45 33 36%
New Under Contracts 16 5 220%
New Contingents 19 10 90%
New Pendings 35 15 133%
All Pendings 45 34 32%
For more information on the McLean VA housing market, please contact Tania at TaniaHosmer@gmail.com or 703-403-8225.
08
Feb
13

State of the Housing Market – McLean, VA 22102 – Quarter End 12/31/12

State of the Housing Market – McLean, VA 22102

Quarter End 12/31/12

There is a popular saying among top economists: “As goes housing, so goes the economy.” Normally, nationwide housing and housing-related services account for about 15-19% of the Gross Domestic Product (GDP), depending on the year.  However, broad generalizations such as:  “It’s a great time to buy,” don’t even begin to tell the whole story, particularly in Northern Viginia.  In order to fully understand our local housing market, the statistics need to be broken down into meaningful components which can be understood and applied by the average home owner and potential buyer.

This analysis provides a snapshot in time of our constantly changing local real estate market.  Hopefully, it will provide you with a more detailed and accurate picture of what is happening in our market today.

Chart (2) and Table (2) compare the number of active listings (the supply) to the number of properties sold or under contract (the demand) in the local real estate markets of McLean (zip code 22102) by price range for the period from 7/1/12-12/31/12.  The following chart depicts the relationship between supply, demand and price.

Supply_and_demand

Based on the current data, the real estate markets in our area can be characterized in one of three ways:

Buyers’ Market – More Active Listings (Supply) than Sales and Under Contract Listings (Demand)

Balanced Market – An Equal Number of Active Listings (Supply) vs. Sales and Under Contract Listings (Demand)

Sellers’ Market – More Sold and Under Contract Listings (Demand) than Active Listings (Supply)

22102 chart 70112-123112

Table 2.
Market  Analysis for Zip Code 22102 (7/1/12 – 12/31/12)
Solds + Expireds +
Contracts Withdrawns
Type of (7/1/12- Active (7/1/12-
List Price Range Market 12/31/12) Listings Difference 12/31/12)
$700,000-$899,999 Sellers’ 31 4 27 or 87.10% 3
$900,000-$1,199,999 Sellers’ 25 5 20 or 80.00% 2
$1,200,000-$1,499,999 Sellers’ 17 5 12 or 70.59% 10
$1,500,000-$1,999,999 Sellers’ 21 6 15 or 71.43% 8
$2,000,000-$2,499,999 Buyers’ 3 6 -3 or -100.00% 7
$2,500,000-$2,999,999 Buyers’ 5 13 -8 or -160.00% 2
$3,000,000+ Buyers’ 7 20 -13 or -185.71% 11
Summary of Zip Code 22102
  • $700,000 – $899,999 – Sellers’ Market.  The number of properties sold between 7/1/12 and 12/31/12 combined with the number of under contract listings is more than seven times the number of homes currently on the market (active listings).  If the 3 property listings that expired or were withdrawn went back on the market, the number of sold properties plus under contract properties would still be more than 4 times the number of active listings.
  • $900,000 – $1,199,999 – Sellers’ Market.  The number of properties sold between 7/1/12 and 12/31/12 combined with the number of under contract listings is five times the number of homes currently on the market.  If you factor in the properties that were withdrawn from the market and listings that expired, there are still more than 3 times the number of sold properties plus under contract properties as the number of active listings.
  • $1,200,000 – $1,499,999 – Sellers’ Market.  The number of properties sold between 7/1/12 and 12/31/12 plus the number of under contract listings is more than 3 times the number of homes for sale.  If you factor in the properties that were withdrawn from the market and listings that expired, this price range shifts from a sellers’ market to close to a balanced market.
  • $1,500,000 – $1,999,999 – Sellers’ Market.  There is more than four times the number of homes for sale as number of homes sold between 7/1/12 and 12/31/12 plus under contract homes.  If you factor in the number of properties that were withdrawn from the market and listings allowed to expire, this price range is still a sellers’ market.
  • $2,000,000 – $2,499,999 – Buyers’ Market.  The number of properties for sales is twice the number of homes sold between 7/1/12 and 12/31/12 plus the number of homes currently under contract.  If you factor in the 7 properties listings that were withdrawn from the market or expired, this price range becomes an even stronger buyers’ market.
  • $2,500,000 – $2,999,999 – Buyers’ Market.  The number of homes listed for sale is more than 2 times the number of homes sold between 7/1/12 and 12/31/12 combined with the number of properties currently under contract.  If you factor in the properties that were withdrawn from the market and listings that expired, the number of homes on the market would be 3 times the number of sold homes combined with the number of properties under contract and the price range would become a stronger buyers’ market.
  • $3,000,000 and up – Buyers’ Market.  The number of homes currently listed for sale is almost 3 times the number of homes sold between 7/1/12 and 12/31/12 plus the number of homes currently under contract.  If you factor in the properties that were withdrawn from the market and listings that expired, there would be more than 4 times the number of homes on the market as sold homes plus the number of properties under contract and it would be a stronger buyers’ market.
21
Nov
12

October Market Statistics for McLean, Virginia 22102

October Market Statistics for McLean, Virginia 22102

Statistic Values YoY MoM
Total Sold Dollar Volume $15,573,689 +31.48% +12.43%
Closed Sales 26 +85.71% +18.18%
Median Sold Price $389,000 +12.75% -33.79%
Average Sold Price $598,988 -29.2% -25.9%
Average Days on Market 87 days +14.47% +67.31%
Average Sold to Original List Ratio 96.51% +3.98% -0.4%

Inventory
October 2012 October 2011 % Change
Active Listings 85 111 -23.42%
New Listings 28 32 -12.50%
New Under Contracts 21 11 90.91%
New Contingents 16 15 6.67%
New Pendings 37 26 42.31%
All Pendings 56 39 43.59%

For more information regarding the McLean, Virginia real estate market, please contact Tania Hosmer at TaniaHosmer@gmail.com or (703) 403-8225

12
Nov
12

Market Analysis for McLean, VA 22102 – Quarter End 9/30/12

There is a popular saying among top economists: “As goes housing, so goes the economy.”

Normally, nationwide housing and housing-related services account for about 15-19% of the Gross Domestic Product (GDP), depending on the year. However, broad generalizations such as: “It’s a great time to buy,” don’t even begin to tell the whole story, particularly in Northern Virginia. In order to fully understand our local housing market, the statistics need to be broken down into meaningful components which can be understood and applied by the average home owner and potential buyer.

This analysis provides a snapshot in time of our constantly changing local real estate market. Hopefully, it will provide you with a more detailed and accurate picture of what is happening in our market today.

Based on the current data, the real estate markets in our area can be characterized in one of three ways:

Buyers’ Market – More Active Listings (Supply) than Sold and Under Contract Listings (Demand)

Balanced Market – An Equal Number of Active Listings (Supply) as compared to Sold and Under Contract Listings (Demand)

Sellers’ Market – More Sold and Under Contract Listings (Demand) than Active Listings (Supply)

Solds + Expireds +
Contracts Withdrawns
(4/1/12- Active (4/1/12-
List Price Range 9/30/12) Listings  Difference   9/30/12)
$700,000-$899,999 29 8 21 or 72.41% 2
$900,000-$1,199,999 29 6 23 or 79.31% 3
$1,200,000-$1,499,999 18 11 7 or 38.89% 4
$1,500,000-$1,999,999 15 17 -2 or -13.33% 3
$2,000,000-$2,499,999 6 6 0 or 0.00% 5
$2,500,000-$2,999,999 5 11 -6 or -120.00% 4
$3,000,000+ 7 30 -23 or -328.57% 5

Summary of Zip Code 22102

$700,000 – $899,999Sellers’ Market. The number of properties sold between 4/1/12 and 9/30/12 combined with the number of under contract listings is more than three times the number of homes currently on the market (active listings). If you factor in the properties that were withdrawn from the market or expired listings, there are still close to 3 times the number of sold properties plus under contract properties as the number of active listings.

$900,000 – $1,199,999Sellers’ Market. The number of properties sold between 4/1/12 and 9/30/12 combined with the number of under contract listings is more than four (almost five) times the number of homes currently on the market. If you factor in the properties that were withdrawn from the market and listings that expired, there are still more than 3 times the number of sold properties plus under contract properties as the number of active listings.

$1,200,000 – $1,499,999Sellers’ Market. The number of properties sold between 4/1/12 and 9/30/12 plus the number of under contract listings is more than the number of homes for sale. If you factor in the properties that were withdrawn from the market and listings that expired, this price range shifts from a sellers’ market to a balanced market.

$1,500,000 – $1,999,999Balanced Market. There is an almost equal number of homes for sale as number of homes sold between 4/1/12 and 9/30/12 plus under contract homes. If you factor in the number of properties that were withdrawn from the market and listings allowed to expire, this price range becomes a buyers’ market.

$2,000,000 – $2,499,999Balanced Market. The number of properties for sales is exactly equal to the number of homes sold between 4/1/12 and 9/30/12 plus the number of homes currently under contract. If you factor in the properties that were withdrawn from the market and listings that expired, this price range shifts from a balanced market to a buyers’ market.

$2,500,000 – $2,999,999Buyers’ Market. The number of homes listed for sale is more than 2 times the number of homes sold between 4/1/12 and 9/30/12 combined with the number of properties currently under contract. If you factor in the properties that were withdrawn from the market and listings that expired, there would be 3 times the number of homes on the market as sold homes combined with the number of properties currently under contract and it would become an even stronger buyers’ market.

$3,000,000 and upStrong Buyers’ Market. The number of homes currently listed for sale is more than 4 times the number of homes sold between 4/1/12 and 9/30/12 plus the number of homes currently under contract. If you factor in the properties that were withdrawn from the market and listings that expired, there would be 5 times the number of homes on the market as sold homes combined with the number of properties currently under contract and it would become an even stronger buyers’ market.

For more information on the McLean real estate market, please contact Tania Hosmer at TaniaHosmer@gmail.com or (703) 403-8225

12
Oct
12

September Market Statistics for McLean, VA 22102

September Market Statistics for McLean, Virginia 22102

 

Statistic Values YoY MoM
Total Sold Dollar Volume $17,784,100 -16.71% -40.48%
Closed Sales 22 -24.14% -35.29%
Median Sold Price $587,500 -4% -32.1%
Average Sold Price $808,368 +9.79% -8.02%
Average Days on Market 52 Days +36.84% +13.04%
Average Sold to Original List Ratio 96.9% +1.48% +1.8%

Inventory      
  Sept 2012 Sept 2011 % Change
Active Listings 108 115 -6.09%
New Listings 41 39 5.13%
New Under Contracts 10 9 11.11%
New Contingents 19 15 26.67%
New Pendings 29 24 20.83%
All Pendings 47 33 42.42%

For further questions about the McLean and Great Falls, Virginia markets, please contact Tania Hosmer at TaniaHosmer@gmail.com or (703) 403-8225

19
Sep
12

August Market Statistics for McLean, VA 22102

Millwood Real Estate News

August Market Statistics for McLean, Virginia 22102

StatisticValuesYoYMoM
Total Sold Dollar Volume$29,880,888+40.17%+3.9%
Closed Sales34+21.43%+6.26%
Median Sold Price$865,250+116.31%+6.49%
Average Sold Price$878,850+15.43%-2.21%
Average Days on Market46 days-54.9%-19.3%
Average Sold to Original List Ratio95.19%+1.71%-0.21%

 

 

Inventory   
 August 2012August 2011% Change
Active Listings109122-10.66%
New Listings3742-11.90%
New Under Contracts1517-11.76%
New Contingents1316-18.75%
New Pendings2833-15.15%
All Pendings4245-6.67%

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“it’s not your father’s real estate market anymore” ®

Tania Hosmer

Tania grew up in Northern Virginia and is a life long resident of the area. She has lived in the Reserve in McLean, Virginia with her husband and 2 children since 2001. Tania and her husband Jim purchased their lot in Section 1 of the Reserve in June of 1999 and built their home in the following 18 months. She holds a bachelor’s degree in Physics from Mary Washington College and an MBA in Finance from The George Washington University. Tania began her real estate career over 20 years ago. In addition to real estate sales, her experience includes managing residential renovation projects in the greater Washington area, planning and overseeing new residential construction and managing rental properties. After completing her MBA in 1996, she joined CIG International (a Washington-based residential real estate investment firm) as Vice President where she conducted extensive due diligence investigations of real estate investment opportunities and oversaw ongoing investment projects. Tania became a residential real estate agent in 2006.

Tania’s Contact Information

Tania Hosmer
Keller Williams Realty
6820 Elm Street
McLean, Virignia 22101
TaniaHosmer.com
TaniaHosmer@gmail.com
703-403-8225

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Disclaimer

If your home is currently listed with another broker, this is not intended as a solicitation of that listing.

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