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Northern Virginia Market Quarterly - 2nd Quarter 2011
July 18th, 2011 10:00 AM

Let's take a look at the second quarter 2011...    

There were a total of 6,981 single family residential sales in the Northern Virginia real estate market in the 2nd quarter 2011, up from 4,602 sale in the first quarter 2011 and down from 8,403 sales in the 2nd quarter 2010. 

Condominium sales came in at 1,644 units for the 2nd quarter, up from 1,347 units sold in the 1st quarter and down from 2,145 units in the 2nd quarter 2010.   

The Northern Virginia real estate market includes: Alexandria City,  Arlington CountyFairfax County Fairfax City, Falls Church CityFauquier County, Loudoun CountyManassas City Manassas Park City,  and Prince William County

Alexandria City Real Estate:

There were 337 single family residential sales in the 2nd quarter, up from 216 sales in the first quarter.  The sold price range was $205,000 - $3,250,000 with an average sold price of $668,022 up from and average sold price of $617,033 in the first quarter and up from $628,849 in the second quarter 2010.  The median sold price was $629,000 in the 2nd quarter, up form $575,000 year-over-year.  The average sold price as a percentage of the average original list price was 96%.  The days-on-market has ranged from 0 - 976 days with an average days-on market of 62 days. 

Alexandria City saw a total of 257 residential condominium unit sales in the 2nd quarter with a sold price range of $61,750 - $1,625,000 and an average sold price of $293,740 and a median sold price of $247,500.  This compares to an average sold price of $285.014 and a median of $260,000 for the 2nd quarter 2010. 

Check our Alexandria City Monthly Market Updates.

                    We appraise Alexandria City real estate! 

Arlington County Real Estate:

There were a total of 359 single family residential sales in the Arlington County market in the 2nd quarter 2011.  Sold prices ranged from $174,000 - $1,838,000 with an average sold price of $740,143, up 2.6% from the 2nd quarter, 2010.  The median sold price was $689,000, up from $670,000 from the 2nd quarter 2010. Days-on-market ranged from 0 -781 days with an average days-on-marketket of 12 days. The average sold price as a percentage of the average original list price was 97% in the 2nd quarter.

Comdominium unit sales amounted to 331 units with a sold price range of $69,900 - $1,675,000 and an average sold price of $395,836, up from an average of $379,181 in the 2nd quarter 2010.  Days-on-market has ranged 0-859 days with an average DOM of 24 days.  The average sold price as a percentage of the average original list price was 96% in the 2nd quarter.

Check our Arlington County Monthly Market Updates.

                    We appraise Arlington County real estate!

Fairfax County Real Estate:

Fairfax County had 3,100 single family residential sales in the 2nd quarter.  The average sold price was $538,148 with a sold price range of $132,000 - $5,975,000.  This is a decrease in the number of sales of 3,678 year-over-year and an increase from an average sold price of $514,069. The average days-on-market was 49 days with a range of 0 - 1,332 days.  The average sold price as a percentage of the average original list price was 96%. 

There were 681 residential condominium unit sales with an average sold price of $232,070, up slightly from an average sold price of $229,411 in the 2nd quarter 2010.  

Check out our Fairfax County Monthly Market Updates.

                    We appraise Fairfax County real estate!

Fairfax City Real Estate:

Fairfax City shows 65 single family residential sales in the 2nd quarter, up from 56 sales in the first quarter 2011. The average sold price was $506,032 and the median sold price has been $$440,000.  This compares to an average of $476,075 and a median sold price of $435,000 in the 2nd quarter 2010.  The sold price range was $170,000 - $1,335,695 in the 2nd quarter with a days-on-market range of  0 - 306 with and average days-on-market of 25. The sales-to-original list price ratio was 98%.

There were 15 residential condo unit sales.  The sold price range has been $115,500 - $500,000 with a median sold price of $145,000 and an average sold price of $178,560.

                     We appraise Fairfax City real estate!

Falls Church City Real Estate:

There were a total of 45 single family sales in the City of Falls Church market in the 2nd quarter.  The average sold price was $723,620 with a sold price range of $440,000 - $1,238,900.  The average days-on-market was 10 with a range of 0 - 254 days.  The sales-to-list price ratio based on the original list price was 97% in the 2nd quarter. 

Condominium unit sales amounted to 22 with an average sold price of $336,948 and a median sold price of $335,450. The sold price range was $135,000 - $528,400 with an average days-on-market of 15.

                      We appraise Falls Church real estate!

Loudoun County Real Estate:

There were a total of 1264 single family sales in Loudoun County in the 2nd quarter, up from 804 sales in quarter 1 2011 and down from 1,373 sales in quarter 2 2010.  The average sold price was $457,811 with sold price range of $120,000 - $2,610,000.  This is an increase from an average sold price of $440,784 in the 2nd quarter 2010. The days-on-market ranged from           0 - 1,466 days with an average of 60 days.  The sales-to-list-price ratio was 96% based on the original list price. 

There were 150 condominium unit sales in the 2nd quarter with an average sold price of $196,080 and a median price of $190,000.  This compares to 236 sales, an average sold price of $208,239 and a median sold price of $198,450 in the 2nd quarter 2010.

Check out our Loudoun County Monthly Market Updates.

                    We appraise Loudoun County real estate!

Manassas City Real Estate:

The City of Manassas saw a total of 95 single family residential sales in the 2nd quarter 2011, down from a total of 158 sales in the first quarter 2010.  The sold price range was $56,220  - $570,000.  The average sold price was $237,476 up from $198,633 year-over-year.  The median sold price was $225,000. Average days-on-market was 21 days with a range of 0 - 230 days.  The average sold price as a percentage of the average original list price was 97% in the first quarter.

There were 33 condominium sales with a price range of $76,000 - $235,000 and an average of $119,232. The medain sold price was $111,550, almost unchanged from a median sold price of $112,000 for the 2nd quarter 2010.

                    We appraise Manassas City real estate!

Manassas Park City:

There were 41 single familt residential sales in Manassas Park City  in the 2nd quarter 2011, down from 83 sales in the first quarter 2010.  The sold price range was $95,300  - $458,000.  The average sold price was $199,978, down from $210,743 year-over-year.  The median sold price was $169,000. Average days-on-market was 25 days with a range of 0 - 1,023 days.  The average sold price as a percentage of the average original list price was 97% in the first quarter.

There were 6 condominium unit sales with a price range of $67,500 - $229,000 and an average of $148,333. The medain sold price was $146,750 and the average sold price as a percentage of the average original list price was 98%.

                      We appraise Manassas Park real estate!

Prince William County Real Estate:

There were a total of 1,484 single family residential sales in the Prince William County market in the 2nd quarter 2011.  The average sold price was $299,547 with a price range of $60,000 - $1,100,000.  This compares to an average sold price of $291,191 in the 2nd quarter 2010.  The average day-on-market was 52 days with a range of 0 - 647 days.  The sales-to-list-price ratio was 96%.

Condominium sales amounted to 134 units with an average sold price of $181,552 and a median sold price of $179,600. This compares to an average of $183,581 and a median price of $169,020 for the 2nd quarter 2010. The sold price range was $66,000 - $333,065 with an average days-on-market of 33.

Check out our Prince William County Monthly Market Updates.

                    We appraise Prince William County real Estate!

Please Contact the Certified Appraisal Group, LLC for all of your residential real estate appraisal needs throughout Northern Virginia.


Posted in:General
Posted by Erol Sevin on July 18th, 2011 10:00 AMPost a Comment

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