Month: October 2020

20790 Duxbury Terrace, Ashburn VA 20147 – Just Listed by The Belt Team!

Price, features and LOTS more photos: 20790 Duxbury Terrace, Ashburn VA 20147

Welcome home to this stunning 4 bedroom/3.5 bath end-unit townhome built by NV Homes! This Energy Star Certified, light-filled property features over 3,200 square feet of living space on 4 finished levels and is in the heart of Loudoun County…One Loudoun. Standout features include gorgeous hardwoods and an open floorplan on the Main Level, a Chef’s eat-in kitchen (open to the living & family rooms) with granite, stainless steel appliances, large island with breakfast bar and gas cooking, a spacious primary bedroom with tray ceiling, 2 large walk-in closets and an attached bath with double sinks and an oversized walk-in shower with 2 built-in benches, and a versatile 4th level with full bath and huge walk-in closet that can be used as a guest/in-law/au pair suite, home office, entertainment area…the possibilities are endless! The lower level features an additional flexible living space and is plumbed for a full bath. Enjoy the outdoors on one of the homes 2 balconies (one off the main level family room and the 2nd is accessed through the 4th floor). You will also appreciate the attached 2-car garage and private driveway for extra parking. And the One Loudoun community amenities…access to The Club at One Loudoun – a rec facility with basketball court, meeting rooms, outdoor multipurpose court, tennis courts, outdoor pool, sports field and more! All of this located in One Loudoun, an area of many shops, dining and entertainment options, more than 100 acres of parks, trails and other outdoor amenities, and convenient to many commuter options including Route 7, Loudoun County Parkway and Dulles International Airport.

Call Beth Dadisman & The Belt Team at 703-577-1144 for more details or to schedule a showing!

Call The Belt Team at (703) 242-3975 if you are thinking of buying or selling. The Belt Team has been in business for over 50 years and has sold over $1 Billion in transaction volume! (Sellers –  you’ll be interested to know that Belt Team Sellers sell FASTER and for MORE money than average!)  Let our experience work for you!!

Home Sale Statistics in Northern Virginia – September 2020

The Northern Virginia real estate market continues to be strong, however the issue of low inventory continues for buyers (although some hyper local areas in our region experienced a double-digit increase in number of homes coming on the market in September).  We are also seeing an upward pressure on home prices due to the inventory shortage and many areas are experiencing a substantial price increase year-over-year. 

We’ve said it before and we’ll say it again…if you are someone thinking of selling your home in the near future, now is the time…buyer demand is still high and supply is low. 

Northern Virginia September 2020 home sales:

• 4,018 homes went under contract in the region. This is up (24%) from the same time period in 2019.

• 66% of the homes that went to settlement in September 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $617,286 (up 13% from the same time period in 2019).

• 4,998 homes came on the market. That’s up 27% from September 2019.

• Homes that sold (closed) averaged 18 days on market, 15 days faster than in September of 2019.

• There is currently a 1.1 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in the Northern Virginia – and 3,531 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remains in a Seller’s Market. Market activity in the region continued to be up year-over-year, however the number of homes that went under contract decreased a bit from August.  Inventory, on the other hand, was up 11% in September compared to August but we are still experiencing an inventory shortage which is putting upward pressure on home prices.

If you need to sell your home, contact us NOW at 703-242-3975 or Info@TheBeltTeam.com or Click Here to help get your home ready and to make sure you DON’T MISS OUT on this market!  If you need to buy a new home, it is very important to work with an experienced agent who has adjusted to the COVID-19 situation and has experience in this competitive market. So give us a call!

To see what the conditions are like in your community, click on the link to your desired city below! 

Vienna: September 2020 Home Sales

Oakton: September 2020 Home Sales 

McLean: September 2020 Home Sales 

Great Falls: September 2020 Home Sales 

Reston: September 2020 Home Sales 

Falls Church: September 2020 Home Sales 

Arlington: September 2020 Home Sales 

Alexandria: September 2020 Home Sales  

*Data compiled from SmartCharts, MarketStats by ShowingTime, whose data comes directly from the Multiple Listing Service (MLS).

The #1 Reason Not to Wait to List Your House for Sale

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.

Mark Fleming, Chief Economist for First American, just reported:

“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”

Buyer demand is still strong heading into the fall. ShowingTime, which tracks the average number of buyer showings on residential properties, just announced that buyer showings are up 61.9% compared to the same time last year. They went on to say:

“Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September.”

There Is One Big Challenge

Purchaser demand is so high, the market is running out of available homes for sale. Just last week, realtor.com reported:

“Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory.”

The National Association of Realtors (NAR) revealed that, while home sales are skyrocketing, the inventory of existing homes for sale is dropping dramatically. Below is a graph of existing inventory (September numbers are not yet available):

The #1 Reason Not to Wait to List Your House for Sale | MyKCM

Homebuilders are increasing construction, but they cannot keep up with the high demand. Bill McBride, founder of the Calculated Risk blog, in discussing inventory of newly constructed houses, notes:

“The months of supply decreased to 3.3 months…This is the all-time record low months of supply.”

What does this mean for sellers?

Anyone thinking of putting their home on the market should not wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.

Next year, when the pandemic is hopefully behind us, there will be many more properties coming to the market. Don’t wait for that increase in competition in your neighborhood. Now is the time to sell.

Bottom Line

Contact The Belt Team today to get your house on the market at this optimal time to sell. Let our 50+ years of experience work for you! Info@TheBeltTeam.com | 703-242-3975 | www.TheBeltTeam.com

Wondering what your more is worth? Click below to be taken to our free home valuation site to find out!

Pumpkin Patches near Vienna VA

Ready to head out and find that perfect pumpkin? Our friends at the patch.com have compiled a list of favorite pumpkin patches in and near the Vienna area that are open for business! See the list below and let us know in the comments if you have any to add. Oh how we love fall in Virginia….

DePaul’s Urban Farm, 2599 Chain Bridge Road, Vienna, VA

Hours: Daily from 10 a.m. to 5 p.m.

Reston Farms Garden Market Fall Fest, 10800 Baron Cameron Avenue, Reston, VA

Hours: Fridays, Saturdays and Sundays, Sept. 25 to Nov. 1, timed tickets at 9 a.m., 11 a.m., 1 p.m., 3 p.m. and 5 p.m.

Meadows Farms Nurseries, 10618 Leesburg Pike, Vienna VA

Hours: 8 a.m. to 7 p.m. Monday through Saturday and 9 a.m. to 6 p.m. on Sunday. No fall festival this year, but a pumpkin patch is offered during operating hours.

Merrifield Garden Center, 8132 Lee Highway, Falls Church, VA or 12101 Lee Highway, Fairfax, VA

Hours: 8 a.m. to 7 p.m. Monday through Saturday and 8 a.m. to 6 p.m. Sunday

Krop’s Crops, 11110 Georgetown Pike, Great Falls, VA

Hours: Daily from 10 a.m. to 6 p.m. in shop; walk-in hayrides to pumpkin patch weekends in October from 11 a.m. to 4 p.m.

Cox Farms, 15621 Braddock Rd, Centreville, VA 20120

Hours: Fall festival is canceled this year. A drive-thru market is open from Sept. 25 to Oct. 31 from 10 a.m. to 6 p.m. and Nov. 1 to 2 from10 a.m. to 5 p.m. Sales are online only.

6364 Brampton Ct, Alexandria VA 22304- Just Listed by The Belt Team!

Price, features and LOTS more photos: 6364 Brampton Ct, Alexandria VA 22304

6364 Brampton Ct is a captivating updated townhome on a non-through street in the sought-after, picturesque community of Landmark Mews, located inside the Beltway. It features 4 bedrooms, 2 full and 2 half baths on 4 levels of finished living space. Standout features of this move-in ready, 3,000+ sq.ft. property include newly refinished hardwood floors (2020) on the main and fourth levels, new Karastan carpet (2020) in all bedrooms and lower level, impeccably remodeled kitchen open to the family room and dining room, creating a flowing, inviting space, stunning primary bedroom suite with fabulous bath and huge walk-in closet, new HVAC (2020), new HWH (2019) and updated baths. Hardwood shutters throughout, recessed lighting, crown molding, 2 fireplaces, a new deck and fence (2019), and so much more. The spacious, enclosed fourth level loft area creates a fabulous versatile space that can be used as a 4th bedroom, guest suite, private telework office, virtual learning space, fitness area…the possibilities are endless. And, the finished, walk-out lower level provides another wonderful living or entertaining space with it’s wood-burning fireplace, full wet bar, half bath, and access to the lower level, fenced-in paver patio through sliding glass doors. The 2-tiered deck and patio create great space for outdoor living, cooking and entertaining, and overlooks Manchester Park. The attached garage includes multiple storage systems and motorized lift, and driveway for additional parking. The desirable community of Landmark Mews is a serene 148-unit townhome in an unbeatable commuter location with easy access to 95, 395 and 495, 10 minute drive to Van Dorn Metro station, or 2 minute walk to Metro bus to the Pentagon. Close to shopping, restaurants, and entertainment, or unwind in the newly renovated Landmark Mews green space, a short stroll from 6364 Brampton Ct.

Call Terry Belt & The Belt Team at (703)242-3975 for more details or to schedule a showing!

Call The Belt Team at (703) 242-3975 if you are thinking of buying or selling. The Belt Team has been in business for over 50 years and has sold over $1 Billion in transaction volume! (Sellers –  you’ll be interested to know that Belt Team Sellers sell FASTER and for MORE money than average!