Blog

21 July 2014

Last Week in Real Estate

7/14/2014 – 7/20/14

Week over week, the summer is remaining consistent. Great Falls still has the highest inventory in years, Reston overall is a pretty strong market and Potomac Falls single family homes are selling too.

In Great Falls, we have 223 active homes on the market this morning (July 21st, 2014). There are a total of 29 under contract and three of those were contracts that were accepted last week. The homes that went under contract are below. To view all the homes currently under contract in Great Falls, click HERE.

Address List Price DOMM
11645 Great Falls Way $1,279,000 61
711 Springvale Rd $1,299,000 41
1005 Riva Ridge Dr $825,000 2

A brief glimpse at the Great Falls Real Estate Market over the last 6 months is in the chart below. There was a huge surge of inventory from January through June, we have remained at a pretty consistent level since then but the number of contracts being written and accepted does not follow the surge in inventory.

In the Reston Single Family Home Market, there are currently 72 homes on the market. This is some of the highest inventory in recent years as well, The graph below shows all the number active, pending and sold for the last 6 months. As inventory has surged, the number of contracts and solds is following closely behind!

Eight homes went under contract last week, bringing the total number of pendings today to 37. The eight homes that went under contract are below!

Address List Price DOMM
2353 Old Trail Dr $379,999 31
12114 Quorn Ln $569,900 18
12389 Copenhagen Ct $625,000 20
1409 Aldenham Ln $498,000 7
1310 Marchmont Ct $674,900 5
1281 Lamplighter Way $724,900 4
11817 Grey Birch Pl $650,000 0
2415 Andorra Pl $549,900 2

The Reston Townhouse Market had a pretty good week! 15 townhouses went under contract bringing the total number of pending to 65. There are 104 active listings on the market. The Reston Condo Market also had a good week, fell just short of the townhouse market but they are pretty similar in terms of inventory. There are 108 Active condo listings in Reston. Nine went under contract last week bringing the total to number of contracts pending to 49!

Potomac Falls (20165) has 51 single family homes on the market this morning. The graph below displays all market activity for the last year. We are seeing some of the highest inventory in recent years but the number of closings is also the highest it has been in the last year.

There were 3 contracts accepted last week, bringing the total number of pendings today to 22. The homes that went under contract are below!

Address List Price DOMM
20358 Cliftons Point St $780,000 63
46572 Hampshire Station Dr $634,900 8
20269 Water Mark Pl $1,065,000 0
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