Brambleton Weekly Update for 10/12/09 to 10/18/09

Quick Summary

New Listings: 3 (0)
Under Contract: 4 (+2)
Sold: 3 (+1)

(Change from previous week.)


Introduction

As of today 10/20/2009, there are 31 active listings (-3) in MLS and 12 homes (-1) under contract in last 30 days. This gives us an absorption rate of 2.6 which is same as last week's rate of 2.6.

Here's the breakdown of the active listings:

20 New Constructions (0) , 7 Traditional Resales (0), 0 Foreclosure (0) and 4 Short Sales(-3).

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

3 new listings came out during the period of 10/12/09 to 10/18/09.

Condo

1. Summerfield Sienna. $285,000.

Single Family

1. Beazer Wyndam. $620,000. (Short Sale, Under Contract)

2. Winchester Homes Browing. $699,000. (Short Sale, Temp Off)

Under Contract

According to MLS, 4 homes went under contract during 10/12/09 to 10/18/09.

Condo

1. Summerfield Como. $169,900. DOMM/DOMP: 164/142. (Short Sale)*

Townhouse

1. Miller & Smith Merlin. $413,030. DOMM/DOMP: 97/97. (New Construction)

Single Family

1. Christopher Companies Kensington. $579,900. DOMM/DOMP:8/8. (Short Sale)

2. Beazer Whyndam. $620,000. DOMM/DOMP: 5/5. (Short Sale)**

3. Gulick Winthrop. $875,000. DOMM/DOMP: 112/112.

*This is the second time this condo went under contract. I believe last time it was listed at $159,900. This is typical with short sales. Either the buyer changes their minds or bank counters at a higher price.

**This home went under contract after 10/18/09 so it belongs in next week's update.

Sold

3 homes sold during this period. All were distressed properties.

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

Condo

1. Summerfield Milano. 22668 BLUE ELDER TER #104. $145,000 - $0 = $145,000. DOMM/DOMP: 13/13. (Foreclosure)*

Single Family

1. Centex Stratton. 42471 MALACHITE TER. $301,000 - $0 = $301,000. DOMM/DOMP: 20/20. (Short Sale)

2. Winchester Chelsea. 42780 HERMITAGE CT. $630,000 - $0 = $630,000. DOMM/DOMP: 4/4. (Short Sale)**

*22668 BLUE ELDER TER #104 was listed for $127,900 but sold for $145,000. This is typically with low end foreclosures and short sales.

**42780 HERMITAGE CT was listed for $575,000 but sold for $630,000. There were 17 contracts within first couple days. This short sale was listed on 9/2/09 and closed on 10/16/09. Some short sales can get approved quickly. I just settled on a Bank of America short sale that was approved in 28 days. Here's the link to my short sale blog. Read other agents' comments. Short sales don't have to be frustrating.

Conclusion

Nothing really 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.