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! 

Home Sale Statistics in Our Area – May 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 May. 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!

31,155 homes went under contract in the region. This is up (10.02%) from the same time period in 2018.

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

• Average sold price was $368,854 (up 4.35% from the same time period in 2018).

41,647 homes came on the market. That’s up 1.42% from May 2018.

• Homes that sold (closed) averaged 59 days on market, 3 days slower than in May 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 67,332 homes for sale (townhouse, condo and single family).

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market. We saw a slight increase in the average sales price from last month and the number of new listings that came on the market decreased by over 21,000.

We’ve said it before….the trend continues to be the difference between inventory and demand in the upper-end price points (“luxury”) vs the more affordable segments (“starter & trade-up market”).

So, if you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price! So, 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.

Let’s take a deeper dive into the numbers of our local market areas, and see where this trend continues…

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

Home Sale Statistics in Our Area – April 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 April.

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!

OVERALL: The Mid-Atlantic Region remains in a Seller’s Market.  However, the trend continues to be the difference between inventory and demand in the upper-end price points (“luxury”) vs the more affordable segments (“starter & trade-up market”).

  • Inventory continues to rise in the luxury and premium home markets which is causing prices to cool. ‘
  • Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis.

If you are thinking of selling, now may be the time! Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price!  So, 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.

Let’s take a deeper dive into the numbers of our local market areas, and see where this trend continues…

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

632 Walker Road, Great Falls, VA 22066 – Listed by The Belt Team – Open Sunday Jun 11

632 Walker Road, Great Falls, VA 22066 is listed by The Belt Team and will be OPEN SUNDAY June 11 from 1-3PM. Price has been improved to $1,149,000! 

Welcome to this stunning custom home situated on a gorgeously landscaped lot in the heart of Great Falls! This home has been beautifully updated and is ready for it’s new owners! 3 finished levels with 5 bedrooms, 5.5 baths (including 2 master suites!), shining hardwood floors & decorative moldings throughout, a fabulous gourmet kitchen, a formal dining room, 3 fireplaces, a family room with soaring ceilings, a finished lower, and incredible outdoor living/entertaining spaces including a large deck and covered front porch! A desirable location offering terrific schools (Langley High School pyramid), easy commuting and easy access to all the amenities of Great Falls, Tysons Corner and Reston Town Center.

Price and lots of additional photos of 632 Walker Road, Great Falls, VA 22066

Call Kevin Kleifges & The Belt Team at (703) 242-3975 to schedule a showing!

For more questions, a specific update on YOUR neighborhood, or a FREE Buyer or Seller Consultation. – call Kevin Kleifges Belt & The Belt Team at (703) 242-3975.

Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid

632 Walker Road, Great Falls, VA 22066 – Listed by The Belt Team – Open Sunday April 2

632 Walker Road, Great Falls, VA 22066 is listed by The Belt Team and will be OPEN SUNDAY April 2nd from 2-4PM. Price has been improved to $1,149,000! 

Welcome to this stunning custom home situated on a gorgeously landscaped lot in the heart of Great Falls! This home has been beautifully updated and is ready for it’s new owners! 3 finished levels with 5 bedrooms, 5.5 baths (including 2 master suites!), shining hardwood floors & decorative moldings throughout, a fabulous gourmet kitchen, a formal dining room, 3 fireplaces, a family room with soaring ceilings, a finished lower, and incredible outdoor living/entertaining spaces including a large deck and covered front porch! A desirable location offering terrific schools (Langley High School pyramid), easy commuting and easy access to all the amenities of Great Falls, Tysons Corner and Reston Town Center.

Price and lots of additional photos of 632 Walker Road, Great Falls, VA 22066

Call Kevin Kleifges & The Belt Team at (703) 242-3975 to schedule a showing!

For more questions, a specific update on YOUR neighborhood, or a FREE Buyer or Seller Consultation. – call Kevin Kleifges Belt & The Belt Team at (703) 242-3975.

Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid

The Belt Team Awarded Top 100 Real Estate Blog on The Planet

Northern VA Real Estate BlogsThe Belt Team was just notified that we have been named to the “Top 100 Real Estate Blogs on the Planet” list!

Our competition included not just other Realtors (of which there are more than 1.2 Million in the U.S.), but also entire brokerages (like Keller Williams Realty), listing portals (like Zillow) and news organizations (like Inman News). We are one of only 2 Realtors or teams in the entire state of Virginia to make the list. (The other was in Charlottesville). We are thrilled because that means the Sellers we represent have market exposure like no other Realtor can provide in Northern VA. And our buyers get the local “boots on the ground” info they need.

Real estate is local. It’s actually hyperlocal. What you read about in the paper, hear about on the news, see posted on Facebook, skim on Twitter or see delivered to your email – is NOT necessarily what’s happening in YOUR neighborhood. Even right here in Northern VA, what’s happening in Arlington may not match Alexandria. Great Falls and Falls Church may be on opposite ends of the spectrum. And even in the same town, things can be different. For example, the Vienna market is currently seeing both a buyer’s market and a seller’s market depending on price range.

THAT is why we started blogging TWENTY years ago. If you are thinking of buying or selling in Northern Virginia, THIS is where you want to be to find out local statistics and strategies for how to win in TODAY’S Northern VA real estate market. In addition to posting new listings, coming soon and TONS of local market stats, we also share real estate related strategies and info that benefit our clients.

Here are a few of our most popular blog posts over the years:

Call The Belt Team at (703) 242-3975. We’ll help you interpret the market in YOUR neighborhood or the neighborhood you’re moving to, so you can make the BEST move!

WHat Is My Home Worth

 

 

632 Walker Road, Great Falls, VA 22066 – Listed by The Belt Team – Open Sunday January 22

632 Walker Road, Great Falls, VA 22066 is listed by The Belt Team and will be OPEN SUNDAY January 22nd from 1-3PM.

Welcome to this stunning custom home situated on a gorgeously landscaped lot in the heart of Great Falls! This home has been beautifully updated and is ready for it’s new owners! 3 finished levels with 5 bedrooms, 5.5 baths (including 2 master suites!), shining hardwood floors & decorative moldings throughout, a fabulous gourmet kitchen, a formal dining room, 3 fireplaces, a family room with soaring ceilings, a finished lower, and incredible outdoor living/entertaining spaces including a large deck and covered front porch! A desirable location offering terrific schools (Langley High School pyramid), easy commuting and easy access to all the amenities of Great Falls, Tysons Corner and Reston Town Center.

Price and lots of additional photos of 632 Walker Road, Great Falls, VA 22066

Call Kevin Kleifges & The Belt Team at (703) 242-3975 to schedule a showing!

For more questions, a specific update on YOUR neighborhood, or a FREE Buyer or Seller Consultation. – call Kevin Kleifges Belt & The Belt Team at (703) 242-3975.

Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid

632 Walker Road, Great Falls, VA 22066 – Listed by The Belt Team – Open Sunday October 2nd

632 Walker Road, Great Falls, VA 22066 is listed by The Belt Team and will be OPEN SUNDAY January 8th from 2-4PM.

Welcome to this stunning custom home situated on a gorgeously landscaped lot in the heart of Great Falls! This home has been beautifully updated and is ready for it’s new owners! 3 finished levels with 5 bedrooms, 5.5 baths (including 2 master suites!), shining hardwood floors & decorative moldings throughout, a fabulous gourmet kitchen, a formal dining room, 3 fireplaces, a family room with soaring ceilings, a finished lower, and incredible outdoor living/entertaining spaces including a large deck and covered front porch! A desirable location offering terrific schools (Langley High School pyramid), easy commuting and easy access to all the amenities of Great Falls, Tysons Corner and Reston Town Center.

Price and lots of additional photos of 632 Walker Road, Great Falls, VA 22066

Call Kevin Kleifges & The Belt Team at (703) 242-3975 to schedule a showing!

For more questions, a specific update on YOUR neighborhood, or a FREE Buyer or Seller Consultation. – call Kevin Kleifges Belt & The Belt Team at (703) 242-3975.

Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid Homes For Sale in Langley High School Pyramid

Northern VA Housing Market – Post Election Update

Credit: Keeping Current Matters
Credit: Keeping Current Matters

Election years in Northern Virginia are usually a time when the real estate market takes a deep breath and pauses to see what will happen. “I’m putting my home search on hold until we see how the election shakes out”  and “I’m gonna wait and see what happens to interest rates after the election” are comments we’ve heard frequently over the past twelve elections.

Let’s look at the market stats for some of our Northern Virginia areas and see whether that rang true this year. The charts below show the number of home sales year-to-date year-over-year for 2014, 2015 & 2016. And there seems to be a pretty consistent pattern.

Northern VA Real Estate Market

Northern VA Real Estate MarketNorthern VA Real Estate MarketNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate StatsNorthern VA Real Estate Stats

 

 

 

 

 

 

 

 

Other than in Ashburn, sales rose significantly in 2015 over 2014. And instead of the market pausing to digest the election, home sales continued to rise in 2016. This was true in Alexandria, Arlington, Great Falls, Herndon, McLean, Oakton, Reston & Vienna – as well as in a number of other areas.

Stay tuned for our CEO Terry Belt’s 2017 Crystal Ball Predictions! (You can read his 2016 Predictions here).

Call Terry Belt & The Belt Team at (703) 242-3975 if you’d like a market analysis for your home or neighborhood. Statistics vary wildly between cities, school districts and price ranges. And if you’re thinking of selling in 2016, NOW is the time to prepare. Did you know that in many areas of Northern VA last year, Sellers who sold in January-February sold their homes for more than those who waited for the “Spring Market”?!

FREE INSTANT Estimate of Your Home’s Value

Search Home Values in YOUR Neighborhood or City on our STATE-OF-THE-ART WEB SITE

Selling Your Home in 2017? Easy Tip to Do NOW!

If you’re thinking of selling your Northern VA home in 2017, it’s never too early to prepare. Here’s an easy tip to get you started!

If you’re thinking of selling in the January to April timeframe, now is a great time for a photo shoot. Get some shots of the autumn leaves. Then when you put your home on the market this winter or early next year – when things are dead and brown – you’ll still be able to showcase your home at its best!

(Don’t forget to email The Belt Team and ask for our FREE Report “Questions To Ask Your Realtor When Selling A House”)

Inverness at Penderbrook Fairfax TH

Snow landscapes made lovely shots to show in that “in between” time in February-March, when it’s almost Spring, but the flowers aren’t blooming yet.

Snow Day in Vienna VA

(If you’re really organized, you can do what some of our past sellers have done and sign your listing now so we can have our professional photographer come out and shoot photos for you!)

Give Terry Belt or Kevin Kleifges a call at (703) 242-3975 to schedule a pre-listing walkthrough. Fall and winter are a great time to start thinking about the updates and repairs you might need to make in preparation for next year. And you’ll want to talk to them first to ensure you don’t waste time or money on things that really aren’t necessary.

If you’re wondering about Northern Virginia Market Statistics – click the links below to find out: How fast are homes selling? What’s happening with prices? Buyer’s Market or Seller’s Market?