Home Sale Statistics in Our Area – February 2020

Record low supply of homes and strong buyer demand continues to drive the sellers’ market!  So, if you are thinking of selling, contact us NOW (703-242-3975)to take advantage of this market!  If you are thinking of buying a home, it is very important to work with an experienced agent to help you navigate this type of market and make your home buying dreams come true!  Use the links at the end to see the details by submarket.

Mid-Atlantic Region

25,547 homes went under contract in the region. This is up (26.6%) from the same time period in 2019.

31% of the homes that went to settlement in February 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $348,114 (up 8% from the same time period in 2019).

28,706 homes came on the market. That’s up 8.8% from February 2019.

• Homes that sold (closed) averaged 55 days on market, 6 days faster than in February of 2019.9.

• There is currently a 2.0 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 Mid Atlantic Region – and 47,701 homes for sale (townhouse, condo and single-family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s MarketActivity picked up again in February…the number of homes that came on the market and that went under contract increased across the region.  Inventory continues to be low with the months supply of homes remaining the same. 

Buyers and Sellers…make sure you are working with an agent that will provide you with the data you need to make good decisions. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. All of this data about the variances in different price ranges is a perfect example of why.  If you’re looking to buy, and you “make an offer” below list price – you might be successful in the upper ranges where there is a more abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

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

Vienna: February 2020 Home Sales

Oakton: February 2020 Home Sales 

McLean: February 2020 Home Sales 

Great Falls: February 2020 Home Sales 

Reston: February 2020 Home Sales 

Falls Church: February 2020 Home Sales 

Arlington: February 2020 Home Sales 

Alexandria: February 2020 Home Sales  

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

Home Sale Statistics in Our Area – January 2020

Welcome to our monthly post of home sale statistics for 2020! Below you will find the numbers for January.

The 2020 spring market has sprung! The buyers are out there looking for their dream homes (the stats show an increase in buyer activity from this time last year). So, if you are thinking of selling, contact us NOW (703-242-3975) to help get your home ready and to make sure you don’t miss out on this market! If you are thinking of buying a home, it is very important to work with an experienced agent to help you navigate this type of market and make your home buying dreams come true!

21,625 homes went under contract in the region. This is up (19.5%) from the same time period in 2019.

25% of the homes that went to settlement in January 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $341,480 (up 4% from the same time period in 2019).

25,347 homes came on the market. That’s up 2.2% from January 2019.

• Homes that sold (closed) averaged 55 days on market, 4 days faster than in January of 2019.

• There is currently a 2.0 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 Mid Atlantic Region – and 48,379 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  Activity picked up in January after the holidays…the number of homes that came on the market and that went under contract increased.  But low inventory continues to be an issue and the total number of homes for sale decreased. 

Buyers and Sellers…make sure you are working with an agent that will provide you with the data you need to make good decisions. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. All of this data about the variances in different price ranges is a perfect example of why.  If you’re looking to buy, and you “make an offer” below list price – you might be successful in the upper ranges where there is a more abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

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

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

Home Sale Statistics in Our Area – December 2019

Welcome to our monthly post of home sale statistics for our region and some hyper local markets!  Below you will find the numbers for December 2019.

The 2020 spring market has already started! The buyers are out there looking for their dream homes (the stats show an increase in buyer activity from this time last year). So, if you are thinking of selling, contact us NOW (703-242-3975) to help get your home ready and to make sure you don’t miss out on this market! If you are thinking of buying a home, it is very important to work with an experienced agent to help you navigate this type of market and make your home buying dreams come true!

16,455 homes went under contract in the region. This is up (15%) from the same time period in 2018.

28% of the homes that went to settlement in December 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $354,094 (up 6% from the same time period in 2018).

15,573 homes came on the market. That’s down 0.7% from December 2018.

• Homes that sold (closed) averaged 48 days on market, 6 days faster than in December of 2018.

• There is currently a 2.1 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 Mid Atlantic Region – and 50,094 homes for sale (townhouse, condo and single family).

Additional Year-End Stats – 2018 vs 2019:

Average sold price increased by 4.05% ($338,130 vs $351,834)

Total units sold increased by 3.8%

Average sales price to original list price ratio remained the same – 97%

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  No major changes during December but like last month, the number of homes that went under contract and the number of homes to hit the market decreased (which is not unexpected during the holiday season).

As we look back at the past year, the 2019 real estate market was healthy bolstered by conditions like the strong economy, low interest rates and low unemployment.  We saw an emergence of what we call a “segmented” market…the more affordable price points were definitely in a Seller’s Market as inventory was low, homes were selling much faster and we saw some appreciation in prices, while the upper-end price points in some areas experienced a more Balanced Market (even Buyers Market in some areas).  Prices did not appreciate and properties sat on the market longer.  We believe this segmented market continuing through 2020.

Buyers and Sellers…make sure you are working with an agent that will provide you with the data you need to make good decisions. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. All of this data about the variances in different price ranges is a perfect example of why.  If you’re looking to buy, and you “make an offer” below list price – you might be successful in the upper ranges where there is a more abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

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

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

Home Sale Statistics in Our Area

Welcome to our monthly post of home sale statistics for our region and some hyper local markets!  Below you will find the numbers for November 2019.

Not to sound like a broken record but…inventory continues to fall so NOW is still a great time to sell!  If you are thinking of selling or buying, contact us at (703-242-3975) to make sure you are working with an agent that will provide you with the data you need to make good decisions. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. All of this data about the variances in different price ranges is a perfect example of why.  If you’re looking to buy, and you “make an offer” below list price – you might be successful in the upper ranges where there is a more abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

Mid-Atlantic Region November 2019 home sales:

21,038 homes went under contract in the region. This is up (19%) from the same time period in 2018.

31% of the homes that went to settlement in November 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $353,865 (up 6.3% from the same time period in 2018).

22,293 homes came on the market. That’s down 1.9% from November 2018.

• Homes that sold (closed) averaged 46 days on market, 5 days faster than in November of 2018.

• There is currently a 2.6 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 Mid Atlantic Region – and 59,542 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  The overall market conditions in the region did not change significantly from October to November but note that the number of homes that went under contract and the number of homes to hit the market (this number is also down slightly from this time last year) decreased.

As you dig deeper into the numbers of some of our local market areas, you will find that the market has slowed and inventory has dropped significantly in some segments.  We also continue to see that the upper-end price points in some areas are experiencing more of a Balanced (even Buyers in some cases) market where prices are not appreciating and properties are sitting on the market longer.  Whereas the lower price points are seeing appreciation, there is less inventory and homes are selling much faster.  

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

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

Home Sale Statistics in Our Area – October 2019

Welcome to our monthly post of home sale statistics for our region and some hyper local markets!  Below you will find the numbers for October 2019.

With inventory remaining low…it’s still a great time to sell!  If you are thinking of selling or buying, contact us NOW (703-242-3975) to make sure you are working with an agent that will provide you with the data you need to make good decisions. The reality is that Buyers & Sellers who are successful in today’s market look at the data and act accordingly. All of this data about the variances in different price ranges is a perfect example of why.  If you’re looking to buy, and you “make an offer” below list price – you might be successful in the upper ranges where there is a more abundant supply of homes. Taking that same action in the lower price range will likely mean you don’t get the house of your dreams. Someone else will.

BUYERS: Did you know that Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS?! Call 703-242-3975 for details.

SELLERS: Call The Belt Team at 703-242-3975 for our FREE Report “42 Questions To Ask Your Realtor BEFORE You Sell”. And find out how our listings sell FASTER and for MORE MONEY than the average agent’s listings.

25,068 homes went under contract in the region. This is up (17%) from the same time period in 2018.

32% of the homes that went to settlement in October 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $348,312 (up 5.6% from the same time period in 2018).

31,329 homes came on the market. That’s up 1.4% from October 2018.

• Homes that sold (closed) averaged 45 days on market, 3 days faster than in October of 2018.

• There is currently a 2.8 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 Mid Atlantic Region – and 65,914 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  The overall market conditions in the region basically did not change significantly from September to October.

However, as you dig deeper into the numbers of our local market areas, you will find segments that are still experiencing somewhat different market conditions.  The upper-end price points in some areas are experiencing more of a Balanced (even Buyers in some cases) market where prices are not appreciating and properties are sitting on the market longer.  Whereas the lower price points are seeing appreciation, there is less inventory and homes are selling much faster.  

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

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

Home Sale Statistics in Our Area – September 2019

Welcome to our monthly post of home sale statistics for our region and some hyper local markets!  Below you will find the numbers for September 2019.

With inventory remaining low…it’s still a great time to sell!  If you are thinking of making a move, contact The Belt Team NOW (703-242-3975) to make sure you are working with an agent that is on top of the market and can provide you with all the information you need.

24,430 homes went under contract in the region. This is up (22%) from the same time period in 2018.

31% of the homes that went to settlement in September 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $344,333 (up 5.4% from the same time period in 2018).

32,291 homes came on the market. That’s up 6.6% from September 2018.

• Homes that sold (closed) averaged 45 days on market, 12 days faster than in September of 2018.

• There is currently a 2.9 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 Mid Atlantic Region – and 67,882 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  The overall market conditions in the region did not change significantly in September but some things to note… compared to the same time period last year, there was a 22% increase in the number of homes that went under contract and the average days on market is down 23%.  Now, let’s take a look at some of our local markets and see what their numbers look like.

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

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

Home Sale Statistics in Our Area – August 2019

Welcome to our monthly post of home sale statistics for our region and some hyper local markets! Below you will find the numbers for August 2019.

With inventory remaining low…it’s still a great time to sell!  If you are thinking of making a move, contact The Belt Team NOW (703-242-3975) to make sure you are working with an agent that is on top of the market and can provide you with all the information you need.

26,051 homes went under contract in the region. This is up (16%) from the same time period in 2018.

30% of the homes that went to settlement in August 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $360,467 (up 4% from the same time period in 2018).

31,687 homes came on the market. That’s down just under 3% from August 2018.

• Homes that sold (closed) averaged 55 days on market, 1 day longer than in August of 2018.

• There is currently a 2.9 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 Mid Atlantic Region – and 65,258 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  The overall market conditions in the region did not change significantly in August but let’s take a look at some of our local markets and see what their numbers look like.

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

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

Home Sale Statistics in Our Area – July 2019

Welcome to our monthly post of home sale statistics for our region and some hyper local markets! Below you will find the numbers for July 2019.

It is still a great time to sell! Please call or text The Belt Team at (703) 242-3975 or email info@thebeltteam.com to discuss in more detail what is happening in your market …we’d love to help you realize your real estate dreams!

• 27,439 homes went under contract in the region. This is up (12.8%) from the same time period in 2018.

• 28% of the homes that went to settlement in July 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $368,571 (up 4.91% from the same time period in 2018).

• 33,104 homes came on the market. That’s down 0.1%from July 2018.

• Homes that sold (closed) averaged 57 days on market, 7 days longer than in July of 2018.

• There is currently a 3.0 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 Mid Atlantic Region – and 66,513 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  Again, the overall market conditions in the region did not change significantly in July but let’s take a look at some of our local markets and see what their numbers look like. 

Buyers & Sellers who are successful in today’s market look at the data and act accordingly…and so do our agents!  Contact The Belt Team NOW (703-242-3975) to make sure you are working with an agent that is on top of the market you are targeting and can provide you with all the information you need.

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

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

Home Sale Statistics in Our Area – June 2019

Welcome to our monthly post of home sale statistics for our region and some hyper local markets! Below you will find the numbers for June 2019.

Please call or text The Belt Team at (703) 242-3975 or email info@thebeltteam.com to discuss in more detail what is happening in your market or if you are interested in buying and/or selling…we’d love to hear from you!

28,484 homes went under contract in the region. This is up (8.23%) from the same time period in 2018.

31% of the homes that went to settlement in June 2019, sold in 10 days or less from when they hit the market. 

• Average sold price was $374,501 (up 4.91% from the same time period in 2018).

35,305 homes came on the market. That’s down 4.16% from June 2018.

• Homes that sold (closed) averaged 55 days on market, 4 days longer than in June of 2018.

• There is currently a 3.0 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 Mid Atlantic Region – and 67,494 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  We saw a very slight increase in the average sales price from last month and the number of new listings that came on the market decreased again this month. 

The overall market conditions in the region did not change significantly in June but let’s take a look at some of our local markets and see what their numbers look like…some areas have seen their market slowing a bit.  The number of homes hitting the market decreased from last month and the average days on market is increasing.

Buyers & Sellers who are successful in today’s market look at the data and act accordingly…and so do our agents!  Contact The Belt Team NOW (703-242-3975) to make sure you are working with an agent that is on top of the market you are targeting and can provide you with all the information you need.

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

Just Listed! 504-J N Thomas St. Arlington, VA 22203 – In the heart of Ballston!

504-J N Thomas St. Arlington, VA 22203 was just listed by Beth Dadisman & The Belt Team.

Welcome home to this gorgeous 4 level townhome tucked away in a great Arlington location! Located in the heart of Ballston, featuring 3 bedrooms /3.5 baths, interior newly painted, shinning hardwood floors, corian countertops, updated bathrooms, stunning architectural details, & so much more.  The location is unbeatable! Minutes to the Ballston Metro (Makes commuting fast & easy!), Harris Teeter, & the new Ballston Quarter (packed with shopping, restaurants, & entertainment!). The open floor plan is an entertainers dream come true. Perfect home for a growing family!

Main Level:

The main level is flooded with natural light through large windows. The flowing floor plan makes this home ideal for entertaining. Features include living room and dinning room directly off the kitchen, shining hardwood floors, gas fireplace, stunning fixtures, and beautiful architectural details including custom crown molding, chair rails, and columns.

Do you love to cook? Then you will love this spacious kitchen! Featuring an abundance of cabinet and countertop space, recessed lighting, corian countertops, island with breakfast bar, and cozy eat-in area with a window seat.  Eat-In space can also be used as office space!

UPPER LEVEL 1:

Upper level I is an absolute inviting retreat. Featuring the master bedroom with en-suite and additional bedroom with full bathroom.

The master bedroom features 2 walk-in closets, plush carpet, ceiling fan, vaulted ceilings, and window seat. The spacious updated master en-suite features a Jacuzzi tub, standing shower with custom tiling & stunning fixtures, and double vanities.

You will appreciate the additional bedroom on this level with attached full bathroom. Featuring Elfa closet system, large windows, and plush carpeting. En-suite bathroom features shower/tub combination.

UPPER LEVEL 2:

This is the perfect space for a guest suite, or growing families, the options are endless. You will appreciate the full bedroom, full bathroom, and laundry on this level. Bedroom features include spacious closet, large windows, built-in desk/shelving, and plush carpeting.

The updated full bathroom is gorgeous! From the fixtures to small details it will be sure to wow guests. Full bathroom was added in 2018. The updated front loading LG washer and dryer are conveniently tucked away in the bathroom as well.

LOWER LEVEL/OUTDOOR FEATURES:

The spacious foyer welcomes you into the home. Includes garage entry & flows to a spacious recreation room and outdoor space. The recreation room features gorgeous custom built-ins, Polk Audio surround sound speakers (installed in recreation room & front of the house above the garage), and fresh paint. Imagine movie nights, game nights, you name it!

You will love the easy access to the private fenced in patio from the recreation room. Imagine enjoy summer nights, cookouts, whatever you want out on the patio! This is a sanctuary,  perfect  for  children,  pets,  and  so  much more!

LOCATION! LOCATION! LOCATION!

This location is unbeatable. You can shop and dine in newly opened Ballston Quarter, Harris Teeter, restaurants, theater, gyms, its got it all! Plus there is a Target and community recreation center coming soon.

You will love how close you are to Ballston Metro. Plus you’ll have easy access to Rt. 50, Rt. 66, & Ronald Reagan Washington National Airport.

FAVORITE FEATURES: 

We always ask our owners to tell us what they feel makes their
home special. Here are their favorite things in their own words…

When the weather is nice, there is nothing like being out on the patio enjoying a book, cup of coffee, or any beverage of your choice! 

The house faces East/South filling the living room with plenty of natural light and warmth.

The location is a dream come true! Super close to the Ballston Metro making it easy for day-trips into the city. 

The large his and her closets were gave us more than enough storage space.

The floor plan is perfect for entertaining! Great for hosting Super Bowl Parties, holiday parties, 4th of July and anything else we want to celebrate! 

The lower level recreation room was where the kids spent most of their time. It was perfect for a game room, movie room, or playroom.

In the winter cozy-ed up by the gas fireplace is where you will find us!

HOME IMPROVEMENTS/UPDATES:

-2018 Added full bathroom on 4th floor
-2018 Updated shower in Master Bathroom
-2017 Updated LG front loading washer/dryer installed
-2014 All windows replaced
-2014 Replaced (1 of 2) AC Units
-Polk Audio surround sound speakers installed in recreation room & in front of the house above the garage
-Smart House! Ecobee 3 smart thermostats installed for both HVAC systems, 2nd generation Kevo smart lock, Ring Video Doorbell Pro, All four, smoke/CO detectors are networks and have Roost batteries installed, Leviton Z-Wave switches (installed for most lights), Samsung SmartThings v2 Hub,LifX Gu10 downlight installed in the living room fan/light

SCHOOLS:

-Barrett Elementary School
-Swanson Middle School 
-Washington Lee High School

Click Here for pictures & more details.

Call Beth Dadisman & The Belt Team at (703) 242-3975!