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! 

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

 

 

Oakton Home Sale Statistics – How Long To Sell Your Home and Are Prices Rising?

If you’re thinking of buying a home in Oakton VA in 2017, then you’re probably wondering things like:

  • “How long are homes on the market?”
  • “Will I have to pay over list price or can I get a deal?”
  • “Buyer’s Market or Seller’s Market?”

If you’re thinking of selling a home in Oakton in 2017, you’re probably wondering:

  • “How long will it take to sell my house?”
  • “Will I have to negotiate my list price?”
  • “Seller’s Market or Buyer’s Market?”

FREE Online INSTANT Home Valuation Estimator

Let’s look at 2016 statistics as they are often an indicator of what you can expect:

  • Average Days on Market in Oakton: 67  (up from 61 days in 2015)
  • Sold Price as % of Original List Price: 95.6% (up from 95.5% in 2015)
  • Percent of Homes Sold in 10 Days or Less: 26% (down from 29% in 2015)
  • Average Sold Price: $676,683 (down from $739,544 in 2015)
  • Number of Home Sales: 321 (up from 318 in 2015)
  • More Oakton Real Estate Market Stats

BUYERS:

Current housing supply in Oakton VA is 2.9 months. This translates to a “Seller’s Market”. (Be aware that number is for the market as a whole. If you are buying, you’ll need to ask for an analysis of the price range you’re looking in as some price ranges may actually have much more inventory.) Either way – you need all the advantages you can get. 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:

Terry Belt, CEO of The Belt Team commented, “Every year, we see competition for the best listings in the market. Often times, those who sell in January/February sell for more than those who wait for the traditional “Spring Market”. In 2017, we especially think this will bear out as we are already seeing interest rates rise, pricing some folks out of the market. Time will tell as to what 2017 has in store, but The Belt Team is already working with a number of Buyers and Sellers in Oakton and we expect the market to start out briskly.”

If you’re selling a home, your next question may be – “Is there a way to sell faster and for more than average?” And the good news is YES!

The best way to do that is to hire the real estate team with the best proven track record of success in the Oakton Vienna area. (Yes – we include Vienna because most people looking at homes in OAkton are also looking in Vienna. So having a top Realtor in both areas is in your best interests. When Buyers look at our listings in Vienna and rule our Vienna, we can refer them to our listings in Oakton!)

So who is that? It’s The Belt Team. Check out Belt Team statistics:

Once again in 2016, The Belt Team sold more homes in the Oakton Vienna area than any other agent or team. This has been the case every single year since 2009. Our track record here shows we sell homes more quickly and for more money than the “average agent”. Our experience & expertise save you time & money!

Anyone can have a good year. Maybe even a good year or two. When you’re selling your home, you need results you can count on. Over the past 10 years, The Belt Team has consistently sold more homes in the Oakton/Vienna area than ANY other agent or team—84% more than the next closest team.

The Belt Team

 

 

 

 

 

 

 

Only three of the 10,000+ Realtors in Northern VA have sold more than 200 homes in Vienna/Oakton in the past ten years. Of those, The Belt Team has the best sold to list price ratio. (Meaning not only do our homes sell faster than average, they sell for a higher percentage of list price than our top competitors.)

Only two agents/teams in Northern VA have sales of more than $250 Million. The Belt Team is one of them. We’ve sold more than $395 Million. 57% more than our next closest competitor. AND our listings also sell more than a month FASTER and FOR 3.3% MORE than this competitor.

On a $2M home, that’s $66K more in YOUR pocket!

Call The Belt Team at (703) 242-3975 if you would like to buy or sell a home in the Oakton Vienna. Not only have we sold more home in this area, but many of our team members have lived here for years. Terry Belt & Christy Belt Grossman grew up in Vienna, have lived here since 1972 and raised their families in here. And Christy’s husband Bill is a baseball coach at Oakton High School. Tom Hanton & Kevin Klefiges has also lived in the area since they were children and are raising their families here as well. We know the schools, the parks, the commuter short cuts, the history and all the things that make Oakton a most special place to live. Not only do we sell homes in Oakton, but with genuine enthusiasm & experience, we sell the entire community.

FREE Online INSTANT Home Valuation Estimator

 Don’t YOU deserve the BEST Realtor in the Oakton Vienna area?

Top Realtor Vienna VA

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?

Selling Your Home in 2016? Easy Tip to Do NOW!

If you’re thinking of selling your Northern VA home in 2016, it’s never too early to prepare. Here’s an easy tip to get you started!

Great Falls Real Estate

School is almost out and your pool is getting ready to swing into high gear. This is the PERFECT time to snap some photos of your yard when it looks its best. Whether or not you have a pool, June is a fabulous time when trees are full, lawns are green and flowers are in bloom. So if you’re thinking of selling in the January to April 2016 timeframe, now is a great time for a photo shoot.

The same thing applies to Fall and Winter. Get some shots of the autumn leaves and some lovely snow landscapes. 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!

Inverness at Penderbrook Fairfax TH

(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. Summertime is 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?

National Real Estate Update

Interest rates are on the rise. Find out what else is happening in the national real estate market in a quick minute!

Now that you know what’s happening in the macromarket, let’s take a look at the  hyperlocal markets. For stats on Northern Virginia communities – check The Belt Team’s community pages:

Call Terry Belt & The Belt Team at (703) 242-3975 to schedule a FREE Buyer or Seller Consultation.