Brambleton Weekly Real Estate Update for 7/27/09 to 8/2/09

Quick Summary

New Listings: 4 (-2)

Under Contract: 3 (+1)

Sold: 5 (+4)

(Change from previous week.)

Introduction

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 visit my short sale blog  VirginiaShortSaleExpert.com.

As of today 8/4/2009, there are 45 active listings (-4) in MLS and 22 homes (+4) under contract in last 30 days.  This gives us an absorption rate of 2.0 which is better than last week's rate of 2.7.   Here's the breakdown of the active listings:

28 New Constructions (-1) , 8 Traditional Resales (-4),  2 Foreclosure (+1) and 7 Short Sales (+1).

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 7/27/09 to 8/2/09.

Condo

1. Summerfield Napoli. $189,900. (Short Sale)

2. Summerfield Verona. $199,000. (Foreclosure)

Townhouse

1. Centex Stratton. $303,000. (Foreclosure)

Single Family

1. Centex Porter. $499,999. (Short Sale)

2. Centex Fulton. $479,000. (Short Sale)*

This listing came on the market after 8/2/09 so it should technically be mentioned in next week's post. 

Every single listing this week is distressed.  

Under Contract

According to MLS, 3 homes went under contract this past week.

Townhouse

1. Centex Walden. DOMM/DOMP: 6/6. $319,000.

Single Family

1. Christopher Companies Kensington. DOMM/DOMP: 9/9. $550,000.

2. Beazer Farnham. DOMM/DOMP: 20/20. $575,000.

3. Miller & Smith SPIRIT OF ST. LOUIS. DOMM/DOMP: 107/107.  $575,000.*

*This home went under contract after 8/2/09 so it should be on next week's update. 

Every single listing that went under contract this week is non-distressed.  

Sold

According to MLS, 5 homes should have settled this past week.

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

Condo

1. Summerfield Milano. 42481 ROCKROSE SQ #101. $160,000 - $0 = $160,000. DOMM/DOMP: 5/5.

2. Summerfield Napoli. 42435 HOLLYHOCK TER #302. $205,000 - $0 = $205,000. DOMM/DOMP: 99/99.

Townhouse

1. Centex Middleton. 42535 MAGELLAN SQ. $315,000 - $0 = $315,000. DOMM/DOMP: 5/5.

2. Beazer Chancery. 42468 LEGACY PARK DR. $405,000 - $0 = $405,000.  DOMM/DOMP: 7/7.

Single Family

1. Beazer Chelsea II. 42826 CONQUEST CIR. $435,000 - $0 = $435,000. DOMM/DOMP: 29/29. (Short Sale)

Both condos sold for full list price.  Market is definately turning. 

42468 LEGACY PARK DR (Beazer Chancery) has 2 contracts in the first weekend.  It's the highest sold price for interior Chancery unit.  This home was listed last year around this time and the best we could get then was like 385k. 

Conclusion

Nothing new.  Here's an interesting article about how about half of all mortgages will be under water by 2011.  This could only mean more short sales.   I'll have some more detailed stats to share shortly. 

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.