Weekly Brambleton Real Estate Update for 9/7/09 to 9/13/09

Quick Summary

New Listings: 4 (+1)
Under Contract: 7 (+2)
Sold: 3 (+1)

(Change from previous week.)


Introduction

As of today 9/15/2009, there are 25 active listings (-3) in MLS and 21 homes (0) under contract in last 30 days. This gives us an absorption rate of 1.2 which is record low since I kept track.

Here's the breakdown of the active listings:
16 New Constructions (-2) , 5 Traditional Resales (0), 1 Foreclosure (0) and 3 Short Sales (-1).

Click here to view all active listings via FranklyMLS.com. There's some non-Brambleton listings 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 9/7/09 to 9/13/09.

Townhouse
1. Miller & Smith Merlin. $339,900. (Foreclosure)
2. Beazer Chancery. $350,000 (Short Sale, Under Contract)
3. Miller & Smith Merlin. $429,900. (Sold)*

Single Family
1. Stanley Martin Braxton. $629,990. (New Construction)

*This home was listed and sold before it went on the market. $429,900 for a Miller & Smith Merlin would of been an overpriced Merlin unless it had more options than a model home. It did sell for $400,000 which is more reasonable. So I'm guessing it was entered as for comp purposes or there was already buyer lined up.



Under Contract


According to MLS, 7 homes went under contract during 9/7/09 to 9/13/09.

Condo
1. Summerfield Verona. $199,000. DOMM/DOMP: 41/41. (Foreclosure)
2. Centex Archer. $294,450. DOMM/DOMP: 22/0. (New Construction)

Townhouse
1. Centex Middleon. $329,900. DOMM/DOMP: 9/9.
2. Beazer Chancery. $350,000. DOMM/DOMP: 4/4. (Short Sale)
3. Miller & Smith Merlin. $429,900. DOMM/DOMP: 0/0. (Sold)

Single Family
1. Miller & Smith Rhapsody. $549,900. DOMM/DOMP: 23/23.
2. Winchester Chelsea. $575,000. DOMM/DOMP: 4/4. (Short Sale)


Sold

According to MLS, 3 homes settled this past week.

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

Condo
1. Summerfield Sienna. 42481 ROCKROSE SQ #302. $175,000 - $0 = $175,000. DOMM/DOMP: 175/175. (Short Sale)

Townhouse
1. Centex Stratton. 42433 ROCKSLIDE TER. $310,000 - $0 = $310,000. DOMM/DOMP: 9/47. (Foreclosure)
2. Miller & Smith Merlin. 42517 REGAL WOOD DR. $400,000 - $0 = $400,000. DOMM/DOMP: 0/0.


Conclusion

Wow! We have an absorption rate of 1.2 which is the lowest level in Brambleton since the start of this blog. I feel like we're doing the limbo. How low can you go? We do expect more inventory in the coming weeks as banks are starting to release more foreclosures.

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.