Brambleton Real Estate Update for 8/17/09 to 8/23/09

Quick Summary

New Listings: 4 (+2)

Under Contract: 5 (+2)

Sold: 3 (+1)

(Change from previous week.)

Introduction

As of today 8/24/2009, there are 28 active listings (-5) in MLS and 20 homes (+2) under contract in last 30 days. This gives us an absorption rate of 1.4 which is better than last week's rate of 1.8.   This is the lowest rate that I remember for Brambleton.   You want to sell, do it in this market.  Compared to early Spring, you'll get at least 5% more. 

Here's the breakdown of the active listings:

18 New Constructions (-3) , 6 Traditional Resales (-3), 3 Foreclosure (+1) and 1 Short Sales (-4).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton istings so just look at the subdivision.

Click here to view all homes under contract via FranklyMLS.com. There's some non-Brambleton listings so just look at the subdivision.

New

4 new listings came out during the period of 8/17/09 to 8/23/09. 

Condo

1. Summerfield Florence. $168,500. (Foreclosure)

2. Summerfield Verona. $210,000. (Foreclosure)

3. Centex Logan. $269,900. 

Single Family

1. Miller & Smith Rhapsody. $549,900.

Under Contract

According to MLS, 5 homes went under contract during 8/17/09 to 8/23/09.

Condo

1. Summerfield Florence. $150,000. DOMM/DOMP: 6/6. (Short Sale)

2. Summerfield Torino. $259,900. DOMM/DOMP: 30/30.

Townhouse

1. Miller & SMith Merlin. $433,260. DOMM/DOMP: 42/42. (New Construction)

2. Beazer Chancery. $440,000. DOMM/DOMP: 7/7. 

Single Family

1. Miller & Smith Rhapsody in Blue. $532,835. DOMM/DOMP: 50/50. (New Construction)

Sold

According to MLS, 3 homes settled this past week.  There was one other that was scheduled to close but it does not show as being closed as of today (8/24).

Format: Model. Address. Sold Price - Subsidy = Net Price. DOMM/DOMP.

Townhouse

1. Centex Stratton. 42475 MALACHITE TER. $314,900. DOMM/DOMP: 8/8. (Short Sale)

2. Beazer Chancery. 42493 CORTEZ TER. $404,000 - $7,500 = $396,500.  DOMM/DOMP: 11/11.

Single Family

1. Christopher Companies. 22756 HIGHCREST CIR. $560,000 - $0 = $560,000. DOMM/DOMP: 9/9.*

22756 HIGHCREST CIR had 4 offers if I remember correctly.  Multiple offers are the norm these days. 

Conclusion

We hit the lowest absorption rate as long as I can remember for Brambleton.  I've been keeping track of Brambleton inventory since 2003 and this is truly remarkable.   This presents a great opportunity for the sellers.  

If you have any questions concerning buying or selling in Brambleton or in Northern Virginia, feel free to email me or call me. If you are considering a short sale, you can visitmy short sale blog VirginiaShortSaleExpert.com.

Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me.