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25 August 2014

Last Week in Real Estate!

Last Week in Real Estate!

8/18/14-8/24/14

August is typically thought to be a bit of a slower month in real estate though the first half of the month didn’t seem to be any different than any other week this summer, last week was in fact slower all around.

Great Falls actually had a pretty typical week. Still not a great showing for our market but we had three homes go under contract last week. There are currently 204 active listings, which is pretty high when compared to August 2013 where we had 152 active listings. There are a total of 34 homes under contract in Great Falls. Below are the homes that went under contract last week.

Address List Price DOMM
9410 Piscataway Ln $6,380,000 91
9504 Locust Hill Dr $750,000 71
11384 Seneca Knoll Dr $1,289,000 68

 

The Reston Single Family Home market didn’t have any activity in terms of contracts ratified last week. There are 60 homes on the market, so still plenty of inventory but August can just be slow sometimes. There are 24 homes under contract which is still a good number when compared to inventory levels.

The Reston Townhouse market is right on track with it’s previous numbers. Nine Townhouses went under contract last week bringing the total number of homes under contract to 52. There are currently 95 active townhouse listings in Reston. The townhouse market seems to be pretty strong and has remained consistent week over week.

The Reston Condo market also seems to be consistent, five homes went under contract last week bringing the total number of condos under contract to 41. There are currently 110 active condo listings in Reston right now. All three of the Reston markets are doing well month over month.

Potomac Falls also had an unusual week, no homes went under contract. There are 45 homes currently on the market but 30 contracts are pending. That is a great number when compared to inventory. One week without contracts being written isn’t something to worry about, it’s just the mid-August slump.

Though last week saw some slower numbers in the Single Family Home markets, the markets in Potomac Falls and Reston are doing well. Great Falls still has to deal with record high levels of inventory but homes are still selling. If you would like more information on these markets or any other markets, get in touch with us today!

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