Just Listed on Difficult Run Drive in Vienna!

Elegant Stanley Martin colonial on a cul-de-sac mere minutes to Tysons. Two story marble foyer & gallery flanked by columns. Cathedral ceiling family room with raised hearth fireplace & Palladian windows – plus a morning room with a wall of windows. Kitchen with all new appliances. Huge master suite with sitting room & luxurious bath. Unfinished walkout lower level – with high ceilinsg & lots of potential!  $860,000

More Info about 1295 Difficult Run Court in Vienna

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If you’ve been following our blog regularly, then you know we follow the statistics on a daily and weekly basis in order to determine “trends” in the market. We combine the statistics with the “anecdotal information” we receive & experience and this gives us a sense of where the market is and where it’s going.

One of the statistics we follow regularly is the number of months of housing supply. This is the primary indicator of whether we are in a “Sellers Market’, a “Buyer’s Market” or a “Balanced Market”. (Read more about each type of market here.)

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Well, for the first time since February 8th, the housing supply in Vienna stands at 3 months (3 months exactly based on the past 90 days sales and 3.3 months based on the past 30 days sales.) This means that Vienna has moved back into a “Balanced Market” from a “Seller’s Market”. It may be too early to call this a trend, so next week’s figures should be interesting to see. Since a holiday weekend is approaching, it’s likely we’ll see more of the same.

Oakton, on the other hand, remains in a “Seller’s Market”. Unlike Vienna, which moved into a “Seller’s Market” in early February of this year, Oakton was a little slower to make the move – waiting until mid-May to reach a supply under 3 months. And as of today, Oakton’s housing supply sits at 2.3 months (based on the past 90 days sales). 

What else happened this past week in Vienna & Oakton real estate?

Here are the highlights:

  • Inventory in Vienna sits at its highest point in 2011 – with 255 homes on the market.
  • Inventory in Oakton is just above the average inventory for the year – at 78 homes.
  • The contract rate in both Vienna and Oakton has dropped. This is likely due to seasonality. Vienna dropped from 25 contracts 2 weeks ago – to just 11 contracts last week. While Oakton dropped from 10 contracts – to 8 – to 7 – to 6  over the past 4 weeks. 
  • While Spring brought us a number of quick sales, we are seeing less and less homes sell in the “under 10 day” timeframe. Seven weeks ago, 50% of the homes that went under contract in Vienna and Oakton sold in 10 days or less. This statistic has declined each week and has settled in under 30% for the past 3 weeks.

For our detail-oriented readers, here are last week’s stats:

Last week in Vienna Real Estate (22180,22181, 22182):

  • Number of Contracts: 11
  • Average Days on Market for Active Listings: 95 days
  • Average Days on Market for Listings That Went Under Contract: 45 days
  • Inventory: 255 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 3.0 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.3 months

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

  • Number of Contracts: 6
  • Average Days on Market for Active Listings: 98 days
  • Average Days on Market for Listings That Went Under Contract: 75
  • Inventory: 78 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.3 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.2 months

If you’re thinking of buying or selling a home, 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!

Just Listed on Lakeside Drive in Vienna!

Rarely available custom luxury home in the sought after Spring Lake community. Located on a beautiful ½ acre plus, impeccably maintained lot on a quiet dead end street. Fabulous recent updates and oversized rooms throughout – great for entertaining and casual living on 3 levels. Renovated kitchen in 2011. Fabulous cathedral ceiling living room. And outside you’ll enjoy a private oasis with lovely landscaping plus a pond with waterfall!  $1,197,850

More Info about 9430 Lakeside Drive in Vienna

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Open House in Vienna – June 26th

TGIF & time for our Open House Song/Video of the Week!

This week we’re going Retro – back to 1963 and a clip from the Disney movie “Summer Magic”. The song is called “Beautiful Beulah” – very appropriate since our home being held open on Sunday is on Beulah Road in Vienna! So – enjoy Hayley Mills as she sings “it’s a paradise – Beulah” and then come visit us on Sunday (open house details below):

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OPEN SUNDAY, JUNE 26 1-4pm

1929 Beulah Road in Vienna – $1,299,900

This incredible home is simply fabulous both inside & out. With 6,000 finished square feet and 3 finished levels, it’s as perfect for everyday living as it is for entertaining. Enjoy a stunning two-story family room with gas fireplace, tray ceiling master bedroom with luxurious bath, a wonderful walkout lower level with wet bar, efficiency kitchen, gas fireplace and even a dumbwaiter to the kitchen! Plus outside you’ll find a delightful gazebo, pergola, patio & more!

Directions: From Tysons: Route 123 South into Vienna, Right Beulah Rd to #1929. Watch for a private driveway on the right just past John Marshall Dr & just before Wolftrap Elementary School.

More Info about 1929 Beulah Road in Vienna

Read about “Life In Vienna

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Friday Funday Video

If you don’t follow our blog regularly, then you probably wonder what “Friday Funday Video” has to do with real estate.

Well, the answer is “nothing”! We may be really serious about our work, we just don’t take ourselves too seriously.

Friday is the day we list our open houses for the weekend and so we try to make it a little more interesting by hooking in a video. For example, we’ve done songs like “Build” by the Housemartins, “If I Had A Million Dollars” by Barenaked Ladies, “The House Is A Rockin” by Stevie Ray Vaughn and “Dreams” by The Cranberries.

Well, this weekend we don’t have any open houses. So our video goes out to our teenagers, young adults AND teacher friends who are just finishing school for the summer. Remember that feeling you had on the last day of school? Our song is especially dedicated to all the new high school & college graduates in our lives. We’re super proud of all of you!

Congrats to:

P.D. Knipe, Sam Callaghan, Chad Carroll, Nick Morabito, Shannon Hippeard, Steven Hurwitt, Amelia Gil-Figueroa, Mary Lupinacci, Luke Willis, Michael Katz, Lansing Veeder, Taiyo Francis, Josh Smith, Kenny Towns, Jared Knoll, Jack Miossi, Dillon Rudnicki, Joseph Vanderplas, Aaron Hoover, Andy Gross & Chris Hanson!

Dream big everyone!

Vienna and Oakton – Just The Facts, Ma'am!

 

Remember the show Dragnet? It was one of the original detective shows. It started on radio in 1949, moved to television for many years (maybe you saw the re-runs!) and was even made into several films including a comedy with Dan Aykroyd. One of the lead characters was Sergeant Joe Friday. And although he never actually said these words on the show, he was known for using this line when interviewing people: “Just the facts, ma’am.” (The real line was “All we want are the facts.”)

So that’s what we’re going to do today – give you the facts about what has happened in Vienna and Oakton real estate this past week.

Here are the highlights:

  • Inventory in Vienna dropped just slightly (1%) from last week. There are now 242 homes on the market. And 19 homes went under contract this week (up from 15 last week). With just under a 3 month housing supply, this keeps Vienna teetering between a “Sellers Market” and a “Balanced Market” 
  • Inventory in Oakton also dropped slightly  from 75 to 73 homes. This is the lowest number we have seen in 12 weeks. Eight homes sold in Oakton this week. And that means that with just over a 2 month supply of housing, Oakton remains in a “Sellers Market”.
  • In Vienna, average days on market for homes that went under contract this week was longer than any week since mid-March. Vienna homes that sold this week stayed on the market for about 75 days. In Oakton, it was about 81 days.
  • Five weeks ago, 50% of the homes that went under contract in Vienna and Oakton sold in 10 days or less. Four weeks ago 35% of the homes sold that quickly. Three weeks ago it was 31%, two weeks ago it was 44%, and this week that statistic dropped to 26%. So, except for a blip two weeks ago, we seem to be trending to a longer average time on market (but it’s still shorter than many years in the past). Note that all of the homes that sold in 10 days or less this week were listed under $600,000.

For our detail-oriented readers, here are last week’s stats:

Last week in Vienna Real Estate (22180,22181, 22182):

  • Number of Contracts: 19
  • Average Days on Market for Active Listings: 104 days
  • Average Days on Market for Listings That Went Under Contract: 75 days
  • Inventory: 242 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.8 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.75 months

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

  • Number of Contracts: 8
  • Average Days on Market for Active Listings: 101 days
  • Average Days on Market for Listings That Went Under Contract: 81
  • Inventory: 73 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.3 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.1 months

If you’re thinking of buying or selling a home, 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 Fairfax (Plus Video of The Week!)

TGIF & time for our Open House Song/Video of the Week!

One of the fun things about living in the Fairfax area is all the fairs & festivals that take place during the summer. And this weekend you have the opportunity to attend “Celebrate Fairfax!“. You’ll enjoy carnival rides, crafts, exhibits, a petting zoo and more. The part I like best is the music. It’s not the “headliners” on the main stage that are my favorite – but the bands that play on the other six(!) stages. (Celebrate Fairfax! Entertainment Schedule)

So this week, our video/song of the week comes from a band that started here in Northern Virginia, but who has gone national and is now based out of Memphis. The lead singer used to be a writer for the “Weekend” section of The Washington Post. He did a great job at that, but his musical talent was going to waste. A number of years ago, he took his band on the road and they have enjoyed great success.

You can see Last Train Home this weekend at Celebrate Fairfax!  AND you can stop by our open house either before or after the show. Last Train Home plays at 2PM on Sunday – and our Open House is from 1-4! Here’s a taste of Last Train Home: (Scroll down for info on our open house!)

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OPEN SUNDAY, JUNE 12th 1-4pm

12705 Lady Somerset Lane in Fairfax 

$875,000

This upscale townhome is quite simply spectacular! Enjoy a sheltered portico entry, open flowing plan with main level family room, morning room, fabulous kitchen, stunning master suite, media room, exercise room/den, rec room, hardwood floors, 10′ ceilings, 3 bay windows, rear garden with deck & stone patio. Located across from the community park!

Directions: From Route 66: Exit Rt 50 West, Right Rugby Rd, Left Lady Somerset Lane to #12705 on left. (Or West Ox Rd or Fairfax County Parkway to Rugby Rd, Left Lady Somerset Ln)

More Info about 12705 Lady Somerset Lane in Fairfax

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Just Listed on Arabian Avenue in Vienna!

This captivating home sparkles with refreshing updates & upgrades including a kitchen with granite countertops & stainless steel appliances, updated baths, new Andersen windows, new upgraded roof, new furnace, new hot water heater, new lower level playroom, carpet, fresh paint & more (all done 2007-2010). Gorgeous yard backing to parkland. Great floorplan, excellent schools & easy commuting near Wolftrap, Meadowlark Gardens, Dulles Toll Road & the upcoming Silver Line Metro $537,000

More Info about 9303 Arabian Avenue in Vienna

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Just Listed In Kensington Square in Fairfax!

 

OPEN SUNDAY, JUNE 12TH 1-4PM

This upscale townhome is quite simply spectacular! Enjoy a sheltered portico entry, open flowing plan with main level family room, morning room, fabulous kitchen, stunning master suite, media room, exercise room/den, rec room, hardwood floors, 10′ ceilings, 3 bay windows, rear garden with deck & stone patio. Located across from the community park! $875,000

More Info about 12705 Lady Somerset Lane in Fairfax

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