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14 July 2014

Last Week in Real Estate!

Last Week in Real Estate

7/7/14-7/13/14

The summer market has remained pretty consistent over the last few weeks. Areas where it has been slower, it continues this trend, areas where it is “average”, again remain average.

Great Falls is still seeing the highest inventory in years. We still have 221 Active Listings. The number of new contracts isn’t quite keeping up with the inventory… Last week, three homes went under contract. With the addition of these three homes, our total number of pending contracts is up to 34.

Address List Price DOMM
9205 Potomac Ridge Rd $848,400 77
10775 Riverscape Run $1,600,000 50
213 River Park Dr $1,489,995 246

 

Reston saw a pretty large surge in inventory over the last week. There are a total of 74 Active Single Family Home Listings, this is up from 60 Actives from last Monday. The Single Family Home market wasn’t the only thing that saw this surge though, the number of Townhomes went from 84 Active Listings to 105. The Condo market saw a smaller surge, an increase of only six from 98 listings to 104 listings. Four Single Family Homes went under contract in Reston last week bringing the total under contract to 36. This gives us a contract ratio of .48 (Contracts per Active Listing).

Address List Price DOMM
1334 Dasher Ln $999,999 85
1925 Upper Lake Dr $847,000 48
2258 Compass Point Ln $1,399,000 47
12132 Quorn Ln $569,900 30

 

As I mentioned above, the townhouse market saw a big surge in inventory, it went from 84 Active Listings to 105 Active Listings. This is a pretty substantial uptick, the number of contracts written remains the same though. Six Townhomes went under contract last week bringing us to a total of 64 Pending Contracts.

The Reston Condo market remains pretty consistent. There was a small increase in inventory though nothing out of the ordinary. We saw inventory move from 94 Listings to 104 Listings. Nine contracts were accepted last week bringing the total number of Condos Under Contract in Reston to 45.

In 20165, Potomac Falls, the Single Family Home Market saw slightly few contracts written than the previous week. Three contracts were accepted though inventory did not increase. It actually dropped from 49 Active Listings to 46. The total number of homes Under Contract in Potomac Falls is now 28.

Address List Price DOMM
214 Heather Glen Rd $498,000 42
132 Environs Rd $499,900 11
19410 Youngs Cliff Rd $589,990 79

 

If you have any questions about the market, don’t hesitate to get in touch with us today! 

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