Brambleton Weekly Update for 8/3/09 to 8/9/09

Quick Summary

New Listings: 2 (-2)

Under Contract: 6 (+3)

Sold: 5 (0)

(Change from previous week.)

Introduction

Before I proceed with this week's update, I want to let you know that I'll be listing a Beazer Chancery townhome on Friday.  If you are in the market for a townhome, let me know.   

As of today 8/12/2009, there are 35 active listings (-10) in MLS and 15 homes (-7) under contract in last 30 days.  This gives us an absorption rate of 2.3 which is worse than last week's rate of 2.0.   Here's the breakdown of the active listings:

23 New Constructions (-5) , 6 Traditional Resales (-2),  1 Foreclosure (-1) and 5 Short Sales (-2).

This is the lowest number of active listings in MLS since I started to keep track in 2008. Inventory is getting tighter and tighter which only means the prices will go up and it has.

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

2 new listings came out during the period of 8/3/09 to 8/10/09.

Single Family

1. Centex Fulton. $479,000.(Short Sale)

2. Stanley Martin Eliot. $579,990. (New Construction)

Under Contract

According to MLS, 5 homes went under contract this past week.

Condo

1. Summerfield Florence. $130,000. DOMM/DOMP: 97/97. (Short Sale)

2. Summerfield Milano. $159,000. DOMM/DOMP: 30/30. (Short Sale)

3. Summerfield Napoli. $175,000. DOMM/DOMP: 53/53. (Short Sale)

Single Family

1. Centex Fulton. $479,000. DOMM/DOMP: 8/8/. (Short Sale)

2. Centex Porter. $499,999. DOMM/DOMP: 9/9. (Short Sale)

3. Miller & Smith Spirit of St. Louis. $575,000/. DOMM/DOMP: 107/107.

5 of the 6 homes that went under contract are short sales.

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 Portofino. 22611 BLUE ELDER TER #201. $130,000 - $4,050 = $125,950. DOMM/DOMP: 11/11. (Foreclosure)

2. Centex Aspen. 22801 SETTLERS TRAIL TER. $265,000 - $0 = $265,000. 

Townhouse

1. Beazer Chancery. 22954 FANSHAW SQ. $390,000 - $0 = $390,000. DOMM/DOMP: 3/3. (Short Sale)*

Single Family

1. Centex Porter. 42572 SWALLOWTAIL WAY. $500,000 - $0 = $500,000. DOMM/DOMP: 3/3. 

2. Winchester Lansdale. 42440 SPRING SPLENDOR DR. $579,999 - $8,000 = $571,999. (New Construction)

3. Winchester Spencer. 2499 MERIDIAN HILL DR. $700,000 - $8,000 = $692,000. (New Construction)

*22954 FANSHAW SQ settled on 8/11/09 so this should in next week's update. 

Conclusion

Again nothing new.  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.

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.