Vienna & Oakton Real Estate Stats

Wondering what’s been happening in the Vienna & Oakton real estate markets over the past week?

Well . . .

  • Vienna inventory is at its highest point in 2013. (There are 151 homes on the market.) BUT – homes are still selling quickly. Last week 56% of the homes that went under contract sold in a week or less. AND there is less than a 3 month supply of housing. (That means we’re STILL in a borderline Seller’s Market.)
  • Oakton inventory is right about what we saw in the May/June market. There are 84 homes for sale in Oakton today. Homes are moving a little slower there, but still moving at a good pace. Last week, 29% of the homes that went under contract sold in a week or less, and 43% sold in two weeks or less. Based on the past 30 days, there is exactly a 3 month supply of housing.

BUYERS – You still have time to find that dream home and move in in time for the holidays! Don’t miss the opportunity to toast to the new year in your new home! One thing you can do to make this happen is to make sure you are using a web site to search homes that is updated constantly (as opposed to daily or even several times a day). Not doing so may mean you miss out on that PERFECT property you have been waiting for. (The Belt Team just launched a brand new, FREE, state-of-the-art Northern Virginia real estate search site and we’re getting great feedback from our buyers. You might want to test it out!)

Search Northern VA Homes For Sale

SELLERS – Based on the traffic we are seeing at open houses, the buyer traffic on our web site and how quickly our listings are selling – we believe there is a ton of pent up demand. Our advise is to position yourself to sell earlier rather than later when there is more competition. (Call 703-242-3975 for info about our offer for a FREE consultation with our professional stager and be ready to hit the market in January!)

Here are this week’s stats:

Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

  • Number of Contracts: 9
  • Average Days on Market for Active Listings: 114 days
  • Average Days on Market for Listings That Went Under Contract: 20 days
  • Inventory: 151 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 2.2 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.6 months

Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 7
  • Average Days on Market for Active Listings: 107 days
  • Average Days on Market for Listings That Went Under Contract: 76 days
  • Inventory: 84 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 3.3 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.0 months

Our mission is “Changing Lives For The Better – One Family At A Time!” How Can We Help YOU?!

Gorgeous Custom Home Just LIsted in Evermay!

Home For Sale in Evermay

Welcome to this custom brick beauty just minutes to DC &Tysons, and superbly located adjacent to Potomac School. This one owner home has been cherished its entire existence. !incredibly well built with excellent craftsmanship and thoughtful design, it offers endless versatility for its new owners. Exceptional features include 7 bedrooms, 6 full/2half baths, 5 fireplaces, two-story entry foyer and family room. The impressive gourmet kitchen has 3 ovens, two 4 burner ranges with heat lamp & tray, 2 oven  warmers, and 2 dishwashers. Spacious dining and living rooms, and an amazing garden level with lounge, game, billiard areas and more! Enjoy the natural setting on the expansive main level deck, sheltered brick patio or private upper level deck/balcony.

Search More Homes For Sale in McLean

Call (703) 242-3975 for more information!

FREE and INSTANT Northern VA Home Valuation Tool

If you’re wondering how much your Northern Virginia home is worth, you might want to try our new FREE Home Valuation Tool. And since we at The Belt Team pride ourselves on how we implement state-of-the-art technology to make our clients’ lives easier, it’s not like the others where you have to wait for someone to do a report. Nope – you get the info you’re looking for INSTANTLY! Click on the picture below.

How Much Is My Home Worth Virginia

Try it out & let us know what you think!

And if you’re looking to buy a home in Northern Virginia – whether it’s a luxury home in Vienna, a townhome in Fairfax or a condo in Reston – you’ll also love our state-of-the-art Homebuyer Real Estate Search Site. It’s FASTER and more UP-TO-DATE than other sites!

McLean Luxury Homes

Call (703) 242-3975 to schedule your Buyer or Seller Consultation. Our mission is “Changing Lives For The Better”. Is it time to change YOURS?

Coming Soon in Evermay!

We have a fabulous new upper bracket listing coming soon in sought after Evermay – on Potomac School Road – just one stoplight to Washington D.C.!

Evermay Home For Sale

Search More Homes For Sale in McLean

What Is My McLean Home Worth? (FREE INSTANT VALUATION!)

Call (703) 242-3975 for more information!

Percentage of Underwater Homes Drops Nationally – What About Northern VA?

We recently attended a conference in Austin where national statistics were presented on the housing market. One of the pieces of good news that was presented was the fact that the percentage of homes that are underwater (ie – homeowners owe more than the homes are worth) has dropped significantly since last year.

We closed 2012 with almost 22% of homes underwater across the United States. After the first two quarters of 2013, that number had dropped down to 14.5%. And 7% of properties returned to positive equity by mid-year.

Underwater Homes

So – what’s happening in Northern VA?

Northern VA has had less homes underwater than many places nationally, but we still have had our share. Well – prices are up, inventory is still fairly low, and interest rates are rising.

This kind of makes for the Perfect Storm.

Rising interest rates could hurt both buyers and sellers. When rates rise, buyers lose buying power. They can’t get as much for their money, it’s harder to qualify for loans and at some point – they drop out of the market. This means demand wanes. When demand wanes, and less buyers are in the market, Sellers have less leverage when selling.

We’re starting to get a lot of calls from savvy homeowners in Northern Virginia who tried to sell (or wanted to sell, but didn’t even try) during the years 2007-2011. They have realized that in many cases, prices are up enough that they can make that next housing move – the one they thought they could make a few years back, but couldn’t. Some are seizing the opportunity to downsize. And some are making a much needed upward move to accommodate their growing families. They realize this just might be the time to put their toes back in the water to see if the numbers work – BEFORE interest rates rise so high that buyers for their home are priced out.

Northern VA Home Sellers

Micro-markets in our area mean that this scenario may not apply to you. For example, there are some areas that are always in demand & insulated from outside market forces. And there are other markets – for example, the luxury market – where demand may not be as swift. If you’re wondering whether you can sell – NOW is the time to consult a Realtor and run the numbers. You may have missed the market last time, but don’t miss it this time.

If you want to take a look at a general valuation of your home before your schedule a consultation – try out our new FREE HOME VALUATION TOOL. You’ll get an immediate online estimate.

How Much Is My Home Worth Virginia

Our mission is “Changing Lives For The Better”. If it’s time to change yours, give us a call at (703) 242-3975.

Vienna & Oakton Real Estate Snapshot

Wondering what’s been happening in the Vienna & Oakton real estate markets over the past week? Here’s a snapshot:

Vienna Real Estate (22180,22181, 22182):

Search Homes For Sale in Vienna

  • Number of Contracts: 15
  • Average Days on Market for Active Listings: 91 days
  • Average Days on Market for Listings That Went Under Contract: 25 days
  • Inventory: 148 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 1.9 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 2.2 months

FREE REPORT – Immediate Results: What Is My Vienna Home Worth?

Oakton Real Estate (22124):

Search Homes For Sale in Oakton

  • Number of Contracts: 7
  • Average Days on Market for Active Listings: 97 days
  • Average Days on Market for Listings That Went Under Contract: 43 days
  • Inventory: 96 homes on the market
  • Number of Months Supply of Homes (Based on past 90 day contract rate): 3.7 months
  • Number of Months Supply of Homes (Based on past 30 day contract rate): 3.1 months

FREE REPORT – Immediate Results: What Is My Oakton Home Worth?

Our mission is “Changing Lives For The Better – One Family At A Time!” How Can We Help YOU?!

Open House at The Yacht Club at Sequoia Village

Have you been dreaming of a waterfront community lifestyle, but you live in Northern Virginia and you also want easy commuting? Well – stop by our open house this weekend at The Yacht Club at Sequoia Village. We have the perfect home for you!

OPEN SUNDAY, OCTOBER 6TH 2PM to 4PM

For Sale Chrisland Cove Falls Church

7575 Chrisland Cv   7575 Chrisland CvDirections: 495 to Rt 50 E (toward Arlington); Right onto Jaguar Tr; Immediate left onto Chrisland Cove – go thru the gate (Call 703-242-3975 for Gate Code); 7575 is on the right.

Search more homes in Falls Church

Keller Williams Realty McLean Gives Where They Live

When you see Realtors from the Keller Williams McLean office, they’re usually dressed professionally, with a phone to their ear, researching on their ipads or showing property to their clients. But recently, we caught a few of them hanging around in t-shirts & looking pretty messy.

KW McLean and Rebuilding Together Tom Relly

Why? They were volunteering their time with Rebuilding Together to restore & rehab a local home for a homeowner in need.

You’ve probably heard of Habitat For Humanity. But you may not have heard of Rebuilding Together. Rebuilding Together’s vision is for a safe & healthy home for every person. And so they partner with local volunteers to make this happen home by home, block by block. Since they were founded in 1988, Rebuilding Together (along with 3.4 million volunteers) has completed work on more than 100,000 homes across the country.

Well – at Keller Williams, our motto is “We Give Where We Live” and so a number of agents, including our own Belt Team Lead Buyer Specialist Tom Reilly, put on tshirts and got down & dirty to make a difference in one woman’s life. They painted, pulled brush, calked, installed safety bars and did all kinds of unglamorous, but much needed work for a wonderful woman in need. What was her favorite part? The safety bars!

Here’s a peek:

There’s a saying that is attributed to John K Kennedy: “One person can make a difference, and everyone should try.” I like to think he’d appreciate our Belt Team mission: “Changing Lives For The Better – One Family At A Time“. And I know a wonderful old lady in Falls Church who would agree that that is JUST what Keller Williams McLean did.

#proudtobewithKW

(Thanks to Bill Parks of Media Minders for the video, Beverly Herdman of KW Commercial for organizing and all the amazing volunteers from KW McLean. We are PROUD to be in business with you!)

Just Listed – Townhouse at The Yacht Club at Sequoia Village!

For Sale Chrisland Cove Falls Church

Gorgeous brick front townhome just listed at The Yacht Club at Sequoia Village in Falls Church. Oh so convenient inside the Beltway location – close to the fabulous amenities of the Mosaic District, Providence Rec Center AND close to Dunn Loring & Falls Church Metros! Enjoy an updated, upgraded home with lovely hardwood floors, a fabulous remodeled kitchen including granite countertops, double master suites with updated baths and a spacious back deck that is the ideal spot for both entertaining and relaxing – with views of the lake & natural surrounds. $450,000

OPEN SUNDAY, OCTOBER 6TH 2PM to 4PM

Directions: 495 to Rt 50 E (toward Arlington); Right onto Jaguar Tr; Immediate left onto Chrisland – through the gate (Call 703-242-3975 for Gate Code); 7575 is on the right.

Call (703) 242-3975 for more info.

Search more homes in Falls Church