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7 July 2014

Last Week in Real Estate

Last Week in Real Estate

Great Falls, Reston, Potomac Falls

6/30/2014 – 7/6/2014

The summer months are upon us now! Some areas are affected a little harder than others as some people may be taking a back seat for the summer. Last week was also a holiday week, so that could have had an effect on the amount of buyers writing offers. Great Falls has had one of it’s most difficult week’s in a long time while some others remained pretty consistent.

In Great Falls, VA, on the Fairfax County side, we are experiencing the highest inventory in at least 10 years. As of July 7th, 2014, there are 223 homes on the market. Last week, just two homes went under contract. It was a holiday weekend though, so that certainly has an effect on things. With the addition of the two under contract, that brings us to a total of 28 pending contracts in Great Falls.

Address List Price DOMM
11933 Thomas Ave $1,599,000 89
9410 Myra Dr $995,000 30

 

The Reston Single Family Home Market is doing a bit better than Great Falls; there are currently 60 active listings. The contract ratio is also much higher, there are 34 total contracts pending, bringing the contract ratio to 56. This means there are .56 homes under contract per active listing. Of the 34 pending contracts, 7 of them were written last week.

Address List Price DOMM
11426 Tanbark Dr $599,990 17
1603 Stowe Rd $819,000 92
2443 Brussels Ct $699,900 8
1250 New Bedford Ln $1,084,950 14
1258 New Bedford Ln $1,225,000 86
1447 Waterfront Rd $999,000 92
12050 Creekbend Dr $1,055,000 128

For Townhouse market in Reston has pretty good contract ratio as well. There are 84 active townhouse listings with 67 total contracts pending. Of the 67, six of them were written last week.

The condo market has the highest number of active listings, there are 98 active condo listings in Reston. Seven new contracts were accepted last week, bringing the total to 44 pending contract.

In Potomac Falls, 20165, the single family home market has 49 active listings. This also has a pretty good contract ratio of 61. This means there are 30 total contracts pending, six of them were written last week. Those six are below!

Address List Price DOMM
133 Peyton Rd $585,000 13
20536 Mason Oak Ct $789,000 3
47517 Saulty Dr $649,900 21
20512 Brandy Station Ct $534,000 63
14 Christopher Ln $519,900 3
47779 Tupelo Ct $750,000 197
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