Real Estate Update – Vienna, VA & Oakton, VA

Here is what are we seeing this week in the Vienna & Oakton real estate markets:

• Inventory is up 6% in Vienna over last week and up 12% in Oakton.
• Average days on market are still stable – with 106 days in Vienna and 103 days in Oakton.
• The contract rate in both Vienna and Oakton remained stable.
• 24% of the homes that went under contract this week were listed over $800,000. (All of them were in Vienna.)
• In terms of market supply, we are still in a balanced market (defined as 3-6 months housing supply), but we are also at our highest supply in 2010 at 4-5 months.

Last week’s detailed statistics are below, but first let’s also look at how the first 8 months of 2010 compare to the first 8 months of 2009:

• Jan-Aug Sales in Vienna for 2010: 612
• Jan-Aug Sales in Vienna for 2009: 544
• Sales in Vienna in 2010 are up 13% over 2009 so far this year.

• Jan-Aug Sales in Oakton for 2010: 168
• Jan-Aug Sales in Oakton for 2009: 163
• Sales in Oakton in 2010 are up 3% over 2009 so far this year.

Here are last week’s stats for Vienna Real Estate (22180,22181, 22182):

• Number of Contracts: 10
• Average Days on Market for Active Listings: 106 days
• Average Days on Market for Listings That Went Under Contract: 83 days
• Inventory: 263 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 3.9 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 4.5 months

Here are last week’s stats for Oakton Real Estate (22124):

• Number of Contracts: 7
• Average Days on Market for Active Listings: 103 days
• Average Days on Market for Listings That Went Under Contract: 49 days
• Inventory: 101 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 5.4 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 4.6 months

If you’re thinking of buying or selling, contact The Belt Team for a more in-depth discussion & analysis – because it’s only the neighborhood YOU live in (or you WANT to live in) that matters!

Open House in Vienna, VA – Sept 26th

It’s the weekend! And that means it’s time for our Open House Theme Song of the Week. Here’s the hint:

Fall has arrived. And this weekend sure feels like Indian Summer. And who better to sing about it than Van Morrison?

Give up?

The song is “Golden Autumn Day“. We chose this song because the home we are holding open on Sunday is sited on a gorgeous, wooded, parkland lot. We can only imagine how breathtaking it will be to watch the leaves turn in a few weeks! So, stop by to visit us . . . but first – here’s Van Morrison to inspire you!

Open Sunday, September 26 from 1PM to 4PM

9527 Rockport Road in Vienna – $825,000

Directions to Rockport Road: From Tysons: Route 123 South, Right Beulah Rd,

More Info about 9527 Rockport Road in Vienna

Read about “Life In Vienna, VA”

Contact The Belt Team

Just Listed – 9527 Rockport Road in Vienna – $825,000

 

   

Enjoy private, wooded parkland views from the stunning family room/kitchen/breakfast room/screened porch/custom stone patio addition to this home done in 2005! Plus 5 bedrooms (all upstairs!), 3.5 baths (including a luxurious master bath with dual granite vanities, separate glass shower & soaking tub – and a full bath on the lower level) and lots of other wonderful updates & upgrades. All on a peaceful cul-de-sac with direct access to the W&OD Trail . . . and in the Wolftrap/Kilmer/Madison school pyramid!

OPEN SUNDAY, SEPT 26 1-4PM

More info about 9527 Rockport Road in Vienna, VA

Contact The Belt Team

Read about Life In Vienna, VA

Just Listed – 1691 Drewlaine Drive, Vienna, VA – $1,249,850

   

 

This delightful custom quality crafted colonial is set on a gorgeous half acre lot in a quiet neighborhood near “Downtown Vienna” and Tysons Corner. Enjoy a beautifully landscaped yard surrounded by mature trees – and you’re close to Foxstone Park & Creek, Cardinal Hill Swim & Racquet Club, Wolftrap Farm Park, “Downtown Vienna” and mere minutes to Westwood Country Club and Tysons Corner!

More info about 1691 Drewlaine Drive in Vienna, VA

Contact The Belt Team

Read about Life In Vienna, VA 

Hyperlocal Real Estate Update – Vienna, VA & Oakton, VA

Here is what are we seeing this week in the Vienna & Oakton real estate markets:

• Inventory is up slightly over last week – about 5% up overall since Labor Day.
• Average days on market are fairly stable – down 4-7 days since Labor Day.
• The number of contracts in Oakton went up slightly – to 6 contracts this week.
• In Vienna, the number of contracts decreased again this week – from 15 to 10. With the exception of one week in August and one week in February, this is the lowest number of weekly contracts this year.
• Only 19% of the homes that went under contract this week were listed over $800,000.
• We remain in a fairly balanced overall market (3.6 – 4.8 months supply) in both Vienna and Oakton – although both areas continue to trend slightly upward.

Here are last week’s stats for Vienna Real Estate (22180,22181, 22182):

• Number of Contracts: 10
• Average Days on Market for Active Listings: 107 days
• Average Days on Market for Listings That Went Under Contract: 59 days
• Inventory: 249 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 3.6 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 4.3 months

Here are last week’s stats for Oakton Real Estate (22124):

• Number of Contracts: 6
• Average Days on Market for Active Listings: 106 days
• Average Days on Market for Listings That Went Under Contract: 72 days
• Inventory: 90 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 4.8 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 3.9 months

If you’re thinking of buying or selling, contact The Belt Team for a more in-depth discussion & analysis – because it’s only the neighborhood YOU live in (or you WANT to live in) that matters!

Open House in Vienna, VA – September 19

It’s the weekend! And that means it’s time for our Open House Theme Song of the Week. Here’s the hint:

Our open house is on MACY Avenue. And the home is BEAUTIFUL! Can you guess the song?

No? Give up?

It’s called “Beauty in the World” and it’s sung by Macy Gray! She sings “Pick your diamond, pick your pearl, there is beauty in the world“. And the home we have open this Sunday is DEFINITELY a diamond! So – scroll down, for directions, gather up your loved ones and stop by to see us. (But first, be inspired by Macy Gray!)

Open Sunday, September 19th from 1PM to 4PM – 9505 Macy Avenue in Vienna – $1,085,000

  

  

This elegant brick front colonial is sited on a large cul-de-sac lot. You’ll especially enjoy the addition to the home that includes a delightful sunroom & 2nd casual eating area. There’s plenty of room for the family to gather, as well for for easy entertaining – with rec rooms on both the main and lower levels. The kitchen was updated in 2010 with granite countertops & stainless appliances. Plus there’s a spacious master suite with sitting room, 4 additional bedrooms. 3.5 baths, soaring ceilings, gleaming hardwoods & more. Madison HS pyramid!

Directions to Macy Avenue: From Tysons: Route 123 South, Right Beulah Rd, Left Abbotsford Dr, Right Percussion Way, Left Labrador Lane, Left Macy Avenue to #9505

More Info about 9505 Macy Avenue

Read about “Life In Vienna, VA”

Contact The Belt Team

Vienna, VA Real Estate Update – What Did That Home Sell For?

So . . . you know what your neighbors were asking for their home – but what did it actually sell for?

Here’s a list of all the settled sales in Vienna (22180,22182,22182) for August 2010:

Contact The Belt Team for more info about homes in Vienna – 22180, 22181, 22182.

Oakton, VA Real Estate Update – What Did That Home Sell For?

And what about Oakton? Well, here’s the list of all settled sales in Oakton (22124) for August 2010:

Under $500,000:

• 10222 Bushman Dr #8111 – ($200,000 less a $5,000 subsidy) = $195,000
• 10202D Willow Mist Ct #92 – ($242,500 less a $4,000 subsidy) = $238,500
• 2824 Jermantown Rd #53 – $329,000
• 10472 White Granite Ct – ($410,000 less a $8,000 subsidy) = $402,000
• 3022 Barden Oaks Ct – $486,000

$500,000 to $775,000:

• 11435 Bronzedale Dr – ($740,000 less a $10,200 subsidy) = $729,800
• 11466 Bronzedale Ct – $734,900
• 10864 Weisiger Ln – $745,000

$775,000 to $999,000:

• None

$1,000,000 and up:

• 2708 Silkwood Ct – $1,300,000
• 2547 Donns Way – $1,376,000
• 2541 Bridge Hill Ln – $1,598,000

Contact The Belt Team for more info about homes in Oakton – 22124.

Just Listed – Wexford Drive in Vienna, VA!

This delightful brick front colonial is mere minutes from “Downtown Vienna”, Tysons & easy commuting! Enjoy 4 bedrooms & 3.5 baths ~ an updated kitchen ~ sunny formal dining room ~ large living room ~ light, bright breakfast area ~ main level library with built-ins ~ family room with fireplace ~ master bedroom with sitting area, walk-in closet & updated bath ~  finished lower level with rec room, fireplace, wet bar, & den/office ~ plus a screened porch & deck! $799,797

More Info About 9090 Wexford Drive in Vienna

And you’ll love living in Vienna – read more about “Life In Vienna”

Contact The Belt Team

Hyperlocal Weekly Real Estate Update – Vienna, VA & Oakton, VA

We’ll be posting the detailed list of what settled in Vienna and Oakton in August soon. But in the meantime, here is what are we seeing in the Vienna & Oakton markets:

• Inventory is up – but only ever so slightly.
• Average days on market are still fairly stable.
• The number of contracts remained low in Oakton – three weeks in a row now where only 4 homes went under contract.
• In Vienna, the number of contracts this week dropped from 19 to 15.
• Only 26% of the homes that went under contract this week were listed over $800,000.
• We still appear to be in a fairly balanced market (3-6 months supply) in both Vienna and Oakton – although both areas continue to trend upward and show almost the highest levels this year.

And last, but not least – here’s a peek into our weekly Belt Team meetings. One of our agenda items each week is a discussion of market conditions. This week, we had a special guest at our meeting. Her name is “Malia” and she is a “next generation and future Belt Team STAR”! In the first picture below, you see Malia’s reaction to the news that although interest rates have begun creeping up, some buyers are still “sitting on the fence” – hoping rates continue to fall – when what we have seen in the past is that when rates start to rise, they can sometimes rise quickly and sharply.      

                             

In the second shot, you see Malia writing down the link to a video blog post we did last month called “Interest Rates at Historical Lows – But Should I Still Wait to Buy“. It’s a great analysis of the balance between interest rates and property values.

Now – here are last week’s detailed statistics for Vienna and Oakton:

Here are last week’s stats for Vienna Real Estate (22180,22181, 22182):

• Number of Contracts: 15
• Average Days on Market for Active Listings: 112 days
• Average Days on Market for Listings That Went Under Contract: 142 days
• Inventory: 247 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 3.4 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 4.2 months

Here are last week’s stats for Oakton Real Estate (22124):

• Number of Contracts: 4
• Average Days on Market for Active Listings: 105 days
• Average Days on Market for Listings That Went Under Contract: 99 days
• Inventory: 90 homes on the market
• Number of Months Supply of Homes (Based on past 90 day contract rate): 4.8 months
• Number of Months Supply of Homes (Based on past 30 day contract rate): 4.3 months

If you’re thinking of buying or selling, contact The Belt Team for a more in-depth discussion & analysis – because it’s only the neighborhood YOU live in (or you WANT to live in) that matters!