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Northern Virginia Market Quarterly - 3rd Quarter 2011
November 9th, 2011 10:15 PM

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

    

There were a total of 8,555 single family residential sales in the Northern Virginia real estate market in the 3rd quarter 2011, up from 6,981 sales in the 2nd quarter 2011 and up from 8,394 sales in the 3rd quarter 2010. 

Condominium sales came in at 1,805 units for the 3rd quarter, up from 1,644 units sold in the 2nd quarter and up from 1,761 units in the 3rd 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 258 single family residential sales in the 3rd quarter, down from 337 sales in the 2nd quarter.  The sold price range was $160,000 - $3,500,000 with an average sold price of $643,902 down slightly from and average sold price of $668,022 in the 2nd quarter and down from $651,104 in the 3rd quarter 2010.  The median sold price was $587,750 in the 3rd quarter, virtually unchanged from $584,950 year-over-year.  The average sold price as a percentage of the average original list price was 95%.  The days-on-market has ranged from 0 - 470 days with a median days-on market of 31 days. 

Residential condominium unit sales in the City of Alexandria dropped in the 3rd quarter to 231 units, down from 257 units sold in the 2nd quarter.  The sold price range was $65,000 - $1,150,000 with a median sold price of $258,500, up from $247,500 in the 2nd quarter and up from $250,000 year-over-year.

Check our Alexandria City Monthly Market Updates.

                    We appraise Alexandria City real estate! 

Arlington County Real Estate:

The Arlington County market saw a slight decline in total sales at 337 for the 3rd quarter compared to a total of 359 single family residential sales in the 2nd quarter.   Sold prices ranged from $150,000 - $2,200,000 with a median sold price of $676,000, up from $650,000 in the 3rd quarter 2010.   Days-on-market ranged from 0 -416 days with a median days-on-market  of 21 days. The median sold price as a percentage of the median original list price remained at 97% in the 3rd quarter, unchanged from the 2nd quarter.

Comdominium unit sales amounted to 319 units with a sold price range of $74,200 - $1,990,000 and a median sold price of $369,500, virtually unchanged from $370,000 year-over-year. Days-on-market has ranged 0-433 days with a median DOM of 30 days.  The median sold price as a percentage of the median original list price was 97% for the 3rd quarter.

Check our Arlington County Monthly Market Updates.

                    We appraise Arlington County real estate!

Fairfax County Real Estate:

Fairfax County had 2,893 single family residential sales in the 3rd quarter, down from 3,100 in the 2nd quarter.  The average sold price was $551,788 with a sold price range of $130,000 - $8,260,000.  This is a decrease in the number of sales year-over-year at 2,939 and an increase from an average sold price of $542,302. The average days-on-market was 52 days with a range of 0 - 725 days.  The average sold price as a percentage of the average original list price has been 95%. 

There were 660 residential condominium unit sales with a price range of $42,000 - $835,000 and an average sold price of $233,399 up only slightly from an average sold price of $232,070 in the 2nd quarter 2010 and up from $227,395 year-over-year.  The average sold price as a percentage of the average original list price has been 96%.  The average days-on-market has been 42.  

Check out our Fairfax County Monthly Market Updates.

                    We appraise Fairfax County real estate!

Fairfax City Real Estate:

There were 64 single family residential sales in Fairfax City in the 3rd quarter, down from 65 sales in the 2nd quarter 2011. The median sold price was $455,000, up from a median of $440,000 in the 2nd quarter 2011 and $435,000 year-over-year.  The sold price range has been $185,000 - $1,340,000 in the 3rd quarter with a median days-on-market of 20 days.  The median sales price to median original list price ratio was 96%.

There were 13 residential condo unit sales.  The sold price range has been $116,900 - $482,000 with a median sold price of $156,000 and a median days-on-market of 12.

                        We appraise Fairfax City real estate!

Falls Church City Real Estate:

The city of Falls Church saw a decline in single family sales from 45 sales in the 2nd quarter to 34 sales in the 3rd quarter.  The median sold price was $684,950 with a sold price range of $450,000 - $1,300,000.  Looking back a year we see a median sold price of $643,950 and a sold price range of $437,000 - $899,000 for the 3rd quarter 2010.  The median days-on-market was 26 with a range of 0 - 282 days inthe 3rd quarter 2011 and the sales-to-list price ratio based on the original list price was 94%.  

Condominium unit sales amounted to 20 with a median sold price of $363,750, up from a medain of $335,450 for the 2nd quarter. The sold price range was $180,000 - $725,000 with a median days-on-market of 39.

                      We appraise Falls Church real estate!

Loudoun County Real Estate:

There were a total of 1,159 single family sales in Loudoun County in the 3rd quarter, down from 1,264 sales in the 2nd quarter and up from 1,097 year-over-year.  The average sold price was $448,813 with sold price range of $110,000 - $1,800,000.  This is a slight decrease from an average sold price of $457,811 in the 2nd quarter 2011 and $455,611 for the 3rd quarter 2010.  The days-on-market ranged from  0 - 558 days with an average of 48 days.  The sales-to-list-price ratio was 96% based on the original list price. 

Condominium unit sales amounted to 166 in the 3rd quarter with a median sold price of $210,000 and a range of $92,000 - $550,000. This compares to 169 sales and a median sold price of $180,000 in the 3rd 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 105 single family residential sales in the 3rd quarter 2011, up from 95 sales in the 2nd quarter 2011 and down from 109 sales in the 3rd quarter 2010.  The sold price range was $57,500  - $490,000.  The median sold price was $230,000 up from $190,000 year-over-year.  Median days-on-market was 17 days with a range of 0 - 234 days.  The median sold price as a percentage of the median original list price was 98% in the 3rd quarter.

There were 19 condominium sales with a price range of $73,000 - $165,000 and a median of $105,000, down from a median of $111,550 in the 2nd quarter and $112,000 for the 3rd quarter 2010.

                    We appraise Manassas City real estate!

Manassas Park City:

There were 52 single family residential sales in Manassas Park City in the 3rd  quarter 2011, up from 41 sales in the 2nd quarter.  The sold price range was $75,000  - $420,000.  The median sold price was $189,500, up slightly from $187,000 year-over-year.  The median days-on-market was 15 days with a range of 0 - 126 days.  The median price as a percentage of the median original list price was 97% in the 3rd quarter.

Condominium unit sales amounted to 13 in Manassas Park City with a price range of $65,000 - $224,000 and a median sold price of $156,000. The sales price to list price ratio was 96%. 

                      We appraise Manassas Park real estate!

Prince William County Real Estate:

The Prince William County market saw a slight decline in the number of single family residential sales from 1,484 in the 2nd quarter to 1,450 in the 3rd quarter.  The average sold price was $305,743 with a price range of $48,500 - $1,000,100.  This compares to an median sold price of $299,547 in the 2nd quarter 2011 and $296,276 in quarter 3, 2010.  The average day-on-market was 42 days with a range of 0 - 835 days.  The sales-to-list-price ratio was 96%.

Condominium sales amounted to 112 units with a median sold price of $153,725  This compares to an median sold price of $150,000 for the 3rd quarter 2010. The sold price range was $50,000 - $346,865 with a median days-on-market of 26.

Check out our Prince William County Monthly Market Updates.

                    We appraise Prince William County real Estate

 

 

 


Posted in:General
Posted by Erol Sevin on November 9th, 2011 10:15 PMPost a Comment

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