11013 Lance Ln, Oakton VA – Just Listed by The Belt Team!

Price, features and LOTS more photos: 11013 Lance Ln, Oakton VA 22124!
 
Stunning brick colonial with over $230,000 owner improvements/updates including kitchen & baths, new roof as of 2019, quality painted inside and out, replaced HDWDs on main level, new carpet, custom tile, window glass replaced throughout, updated HVAC, extensive landscaping/hardscape and so much more! Features 4BR/4.5BA, over 6000 sq ft of living space, 3 finished levels, 2-story foyer & family room with custom brick fireplace, 3 piece crown molding, eat-in chef’s kitchen, formal dining room, main level private den/study with built-ins, light-filled sun room, expansive primary bedroom suite, lower level rec/game room, full wet bar, outdoor patio with built-in gas grill, gorgeous landscaping and 3-car attached garage. Not to be missed!
 
Call Terry Belt & The Belt Team for more details or to schedule a showing! 703-242-3975
 

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!

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Home Sale Statistics in Northern Virginia – February 2021

Spring is here…the temperature is finally heading in the same direction as this crazy real estate market!  The story remains the same – we are experiencing unbelievable historically low inventory so it’s really tough out there for buyers.  We are seeing buyers doing things like waiving contingencies and offering an amount above list price but still not getting the property.

Now more than ever, it is very important to work with an experienced agent whether you are buying or selling.  The Belt Team has been in business for over 50 years and has the experience needed to navigate these waters.  So, if you are thinking of buying or selling, contact us NOW (703-242-3975).

Northern Virginia February 2021 home sales:

3,109 homes went under contract in the region. This is down 3% from the same time period in 2020.

64% of the homes that went to settlement in February 2021, sold in 10 days or less from when they hit the market.

• Average sold price was $605,738 (up 6% from the same time period in 2020).

3,459 homes came on the market. That’s down 10% from February 2020.

• Homes that sold (closed) averaged 21 days on market, 8 days faster than in February of 2020.

• There is currently a 0.6 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 2,102 homes for sale (townhouse, condo and single-family).

OVERALL: Northern Virginia remained a Seller’s Market. Market activity in the region was up slightly from January but was down year-over-year.  Average sold prices were up from last year and low inventory remains to be a very big issue. 

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

Vienna: February 2021 Home Sales

Oakton: February 2021 Home Sales 

McLean: February 2021 Home Sales 

Great Falls: February 2021 Home Sales 

Reston: February 2021 Home Sales 

Falls Church: February 2021 Home Sales 

Arlington: February 2021 Home Sales 

Alexandria: February 2021 Home Sales  

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

Want to know what your home is worth? Click below to get our free instant home valuation!

5 Reasons to Sell Your House This Spring

5 Reasons to Sell Your House This Spring | MyKCM

When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready.

1. There’s high demand from homebuyers.

Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that buyer showings are up 51.5% compared to this time last year. Daniil Cherkasskiy, Chief Analytics Officer at ShowingTime, notes:

“As anticipated, demand for real estate remains elevated and continues to be affected by low levels of inventory…On average, each home is getting 50 percent or more requests this year compared to January of last year. As we head into the busy season, it’s likely we’ll push into even more extreme territory until the supply starts catching up with demand.”

When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller.

2. There aren’t enough houses for sale.

Purchaser demand is so high, the market is running out of available houses for sale. Recently, realtor.com reported:

“Nationally, the inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”

The National Association of Realtors (NAR) also reveals that, while home sales are skyrocketing, the inventory of existing homes for sale is continuing to drop dramatically. Houses are essentially selling as fast as they’re hitting the market – in fact, NAR reports that the average house is on the market for only 21 days.

It’s this imbalance between high buyer demand and a low supply of houses for sale that gives sellers such an advantage. A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the real estate market today.

3. You have a lot of leverage in today’s market.

Clearly, many more people are interested in buying than selling this spring, creating the ultimate sellers’ market. When this happens, homeowners in a position to sell have the upper hand in negotiations.

According to NAR, agents are reporting an average of 3.7 offers per house and an increase in bidding wars. As a seller, this means the ball is in your court – so much so that you can use your leverage to negotiate the best possible contract. Demand is there, and now is the perfect time to sell for the most favorable terms.

4. It’s a great way to use your home equity.

According to the latest data from CoreLogic, as of the third quarter of 2020, the average homeowner gained $17,000 in equity over the past year, and that number continues to grow as home values appreciate. Equity is a type of forced savings that grows during your time as a homeowner and can be put toward bigger goals like buying your next dream home.

Mark Fleming, Chief Economist at First American, notes:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”

5. It’s a chance to find a home that meets your needs.

So much has changed over the past year, including what many of us need in a home. Spending extra time where we currently live is enabling many of us to re-evaluate homeownership and what we find most important in a home.

Whether it’s a house that has the features suited to working remotely, space for virtual or hybrid schooling, a home gym or theater, or something else, selling this spring gives you a chance to make a move and find the home of your dreams.

Bottom Line

Today’s housing market belongs to the sellers. If you’ve considered making a move but have been waiting for the right market conditions, your wait may be over. Let’s connect so you’ll be positioned to win when you sell your house this spring. Info@TheBeltTeam.com | 703-242-3975 | Contact Us

Wondering what your home is worth? We offer free instant home valuations…simply click the icon below!

Coming Soon in Oakton VA 22124

Coming Soon on quiet cul-de-sac in Oakton Crest…11013 Lance Ln, Oakton VA 22124!
 
Stunning brick colonial with over $230,000 owner improvements/updates including kitchen & baths, new roof as of 2019, quality painted inside and out, replaced HDWDs on main level, new carpet, custom tile, window glass replaced throughout, updated HVAC, extensive landscaping/hardscape and so much more! Features 4BR/4.5BA, over 6000 sq ft of living space, 3 finished levels, 2-story foyer & family room with custom brick fireplace, 3 piece crown molding, eat-in chef’s kitchen, formal dining room, main level private den/study with built-ins, light-filled sun room, expansive primary bedroom suite, lower level rec/game room, full wet bar, outdoor patio with built-in gas grill, gorgeous landscaping and 3-car attached garage. Not to be missed!
 
CLICK HERE for more photos and details or call us at 703-242-3975!
 

Free Instant Online Home Valuation – What Is My Home Worth?