The week of 7/21/14-7/27/14 seemed to be pretty consistent again, Great Falls did have a slight surge in contracts written, hopefully the number of contracts written last week can develop into a trend!
In Great Falls, we saw seven homes go under contract last week. In weeks past, we haven’t seen this number jump up past three. Now of course, one good week doesn’t say too much, we need several weeks like last week to start taking a dent out of the inventory. We now have 215 active listings on the market in Great Falls alone. There are a total of 35 homes under contract as of today, the morning of 7/28/14. We are in a market with unprecedented levels of inventory. The homes that went under contract last week are below. The full list of homes under contract in Great Falls is HERE.
|1101 Park Royal Ct||$1,350,000||247|
|901 Falls Manors Ct||$1,499,900||153|
|10422 Deerfoot Dr||$829,000||89|
|1150 Mill Garden Ct||$1,170,000||75|
|931 Welham Green Rd||$899,000||62|
|909 Millwood Rd||$1,100,000||33|
|312 Runner Rd||$1,749,900||7|
In Reston, there are 67 single family homes on the market as of this morning. Last week, we saw seven homes go under contract, bringing the total number of homes under contract to 41. Reston is seeing some of the highest inventory in recent years but the number of homes still going under contract and selling means this market isn’t hurting. Based on last month’s numbers, 28 homes sold, 30 were under contract and 66 active, this leaves us with 2.35 months of inventory. The homes that went under contract last week are below.
|2400 Freetown Dr||$450,000||98|
|11303 Bright Pond Ln||$999,980||127|
|2274 Cocquina Dr||$339,900||73|
|10724 Cross School Rd||$775,000||44|
|1560 Trails Edge Ln||$715,000||34|
|11218 Wedge Dr||$760,000||15|
|11939 Riders Ln||$878,000||14|
The Reston Townhouse market has 105 active listings. Nine Townhouses went under contract last week, bringing the total number of under contract to 58.
The Condos in Reston had a little bit of a slower week, there are currently 107 active listings and five went under contract last week. There are now a total of 42 condos under contract in Reston right now. The numbers from June, the last full set we have, show condo inventory to be at 2.7 months and townhouse inventory to be at 1.88 months but there was a lot under contract at month’s end. These inventory levels show the market to still be in the seller’s favor, there is a lot on the market but people are still buying what’s out there.
In Potomac Falls, there are 53 single family homes on the market. There were 8 contracts accepted last week, bringing the total number of homes on the market to 29. Last month’s numbers showed inventory to be at 1.74 months. Again, this is a great number showing that the market is still in the seller’s favor. The homes that went under contract last week are below!
|20782 Quiet Brook Pl||$665,000||28|
|45 Bentley Dr||$419,000||66|
|20604 Parkside Cir||$529,900||24|
|29 Rutherford Cir||$559,900||3|
|70 Rutherford Cir||$649,000||1|
|5 Crisswell Ct||$559,000||6|
|20413 Tappahannock Pl||$710,000||84|
|20480 Mcgees Ferry Way||$599,000||0|
If you would like some more market information, get in touch with us today! If you don’t see your area of home type included above, let us know and we will be happy to get that information to you!
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