Blog

28 July 2014

Last Week in Real Estate!

7/21/14-7/27/14

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.

Address

List Price

DOMM

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.

Address List Price

DOMM

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!

Address

List Price

DOMM

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!

The Canto Group strives to offer our clients an unparalleled level of service, click HERE to see how we make your home standout from the crowd.

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