Northern Virginia Real Estate: Vienna, Oakton, McLean, Great Falls, Reston, Fairfax, and surrounding areas.

Do you ever wonder when you drive by a house with a For Sale sign what the owners are asking for their home? Or when you see a Sold sign finally go up on your neighbor’s house - do you wonder how much they got for their home?

Feel free to call us & we will do our best to get that information for you. As soon settlement occurs, the information as to Sales Price and whether the Seller paid any “subsidies” (like closing cost assistance) becomes available to us. And we are happy to share that with you.

In the meantime, for those of you who have been wondering about homes in Vienna and Oakton - here’s our detailed monthly update. (Our most requested area for detailed information is Vienna Oakton. See below for other areas.) (And don’t forget to check back in between these monthly updates for our weekly spring snippets.)

VIENNA:                                          Jan 10                   Jan 09

# New Listings                                     79                           99                    
# Under Contract                                 56                           53                 
# Sold/Settled                                      30                           35     

Average Days on Market
for January Solds                             87 days             111  days   
Highest Price Sale                          $1,600,000           $808,673

OAKTON:                                         Jan 10                   Jan 09

# New Listings                                      19                            22                   
# Under Contract                                  21                            11                       
# Sold/Settled                                       11                            10                                   
Average Days on Market                       
for January Solds                              95 days              115 days   
Highest Price Sale                           $1,450,000          $1,620,000

What Sold (ie- went to settlement) in Oakton in January 2010?

Under $500,000:

3178 Summit Square Dr #3-E12 - $207,000 less a $6,210 subsidy = $$200,790 Net
9977 Oakton Terrace Rd - 208,000 (no subsidy)
3031 Borge St #303 - $328,000 (no subsidy)

$500,000 to $775,000:

10804 Mantilla Ct - $548,000 (no subsidy)
3214 Dominy Ct - $610,000 (less a $6,850 subsidy = $603,150 Net)
11785 Stuart Mill Rd - $630,000 (no subsidy)
2776 Thaxton Ln - $649,000 (less a $5,000 subsidy = $644,000 Net)
12003 St Helena Dr - $750,000 (no subsidy)

$775,000 to $999,000:

2919 Chain Bridge Rd - $800,000 (no subsidy)

$1,000,000 and up:

11409 Green Moor Ln - $1,000,500 (no subsidy)
3016 Rose Creek Ct - $1,450,000 (less a $3,000 subsidy = $1,447,000 Net)

What Sold (ie- went to settlement) in Vienna in January 2010?

Under $500,000:

9486 Virginia Center Blvd #405 - $250,000 (no subsidy)
2765 Centerboro Dr #266 - $311,000 (no subsidy)
304A Locust St SE - $360,000 (no subsidy)
412 Knoll St NW - $373,900 (no subsidy)
2625 Occidental Dr - $422,000 (no subsidy)
8516 Marquette St - $430,000 (no subsidy)
10200 Woodrow St - $450,000 (less a $1,405 subsidy = $448,595 Net)
2860 Sutton Oaks Ln - $485,000 (less a $7,500 subsidy = $485,000 Net)

$500,000 to $775,000:

9415 Old Courthouse Rd - $500,000 (no subsidy)
9525 Center St - $555,000 (no subsidy)
101 Saratgo Way NE - $600,000 (less a $20,000 subsidy = $580,000 Net)
137 Roland Ct SW - $612,500 (no subsidy)
514 Council Ct NE - $614,000 (less a $2,000 subsidy = $612,000 Net)
8194 Madrillon Ct - $632,500 (less a $10,302 subsidy = $622,198 Net)
602 Sideling Ct NE - $685,000 (less a $16,000 subsidy = $669,000 Net)
10324 Dunn Meadow Rd - $683,000 (less a $7,500 subsidy = $675,500 Net)
1805 Fawncrest Ct - $715,000 (less a $1,000 subsidy = $714,000 Net)
8041 Reserve Way #47 - $738,073 (no subsidy)
1504 Trombone Ct - $760,000 (less a $800 subsidy = $759,200 Net)
507 Ayr Hill Ave NE - $770,000 (less a $4,000 subsidy = $766,000 Net)

$775,000 to $999,000:

10006 Donal Ln - $780,000 (no subsidy)
2905 Darnley Pl - $792,000 (less a $3,175 subsidy = $788,825 Net)
2061 Kedge Dr - $800,000 (no subsidy)
727 McKinley St - $925,000 (less a $500 subsidy = $924,500 Net)
1278 Cobble Pond Way - $952,000 (no subsidy)

$1,000,000 and up:

608 Niblick Dr SE - $1,125,000 (no subsidy)
406 Mill St SE - $1,203,365 (less a $23,000 subsidy = $1,180,365 Net)
1800 Kilbarry Ct - $1,207,500 (no subsidy)
9981 Hidden Oaks Ct - $1,215,000 (less a $8,100 subsidy = $1,206,900 Net)
2084 Hunters Crest Way - $1,600,000 (no subsidy)

RESTON:                                           Jan 10                   Jan 09

# New Listings                                      119                           95
# Under Contract                                   84                           64                               
# Sold/Settled                                         61                           59                  

Average Days on Market
for January Solds                              51 days              103 days   
Highest Price Sale                            $1,162,500          $1,200,000

MCLEAN:                                         Jan 10                   Jan 09

# New Listings                                      55                          105                         
# Under Contract                                  46                           27                               
# Sold/Settled                                        31                           24                                               
Average Days on Market
for January Solds                              111 days            173 days   
Highest Price Sale                          $2,285,000          $2,300,000

GREAT FALLS:                             Jan 10                   Jan 09

# New Listings                                     24                           31                                 
# Under Contract                                 11                             7                              
# Sold/Settled                                      9                               6                                                
Average Days on Market
for January Solds                            335 days            150 days   
Highest Price Sale                         $2,800,000          $2,085,000

For more information on any of the sales or listings above (or if you would like further information on other areas), or if you are thinking of buying or selling a home, please contact The Belt Team at (703) 242-3975. The Belt Team has sold more homes in Northern Virginia than almost any other Realtor since 1972 and we also offer our expertise in areas ranging from Loudoun County to Arlington to Silver Spring! It would be our pleasure to help make your real estate dreams come true!

Well, despite the 2 foot snowstorm here in Virginia, The Belt Team was hard at work today. One contract ratified this morning on one of our listings. And another contract submitted for a buyer we are representing.

That being said, we cannot control the roads. So our 3 open houses scheduled for Sunday have been canceled. Check back here next weekend for an open house update.

Happy Sledding! (Check out our Vienna Blog for “Best Sledding Hills“).

Today is Friday and that means it’s time for our Open House Theme Song of the Week.

Sometimes you’ve just got to go with the cliche . . .

We have 3 wonderful homes scheduled to be held open on Sunday (see below) . But check back here to see whether the snow changes our plans. In the meantime, enjoy Frank Sinatra “Let It Snow, Let It Snow, Let It Snow!”

Here’s where you will find The Belt Team this weekend:

~ Sunday, Feb 7th from 1PM to 4PM - 10240 Dunfries Road in Vienna - $889,000
~ Sunday, Feb 7th from 2PM to 4PM - 201 Charles Street SE in Vienna - $1,295,000
~ Sunday, Feb 7th from 1PM to 4PM - 9908 Mill Run Drive in Great Falls - $885,000

9908 Mill Run Drive, Great Falls - Listed at $885,000

Directions from Tysons: Route 7 West, Right Colvin Run Rd, Right Robindale, Right Phoenix, Right Mill Run to #9908 on right. (You got that - right? <wink>)

910240 Dunfries Rd, Vienna -Listed at $889,000

Directions from Tysons: South on Route 123, Right Flint Hill Rd, Left Vale Rd, just past the pond turn Left on Dunfries. Or from Oakton: Take Hunter Mill Rd, Right on Vale, Right on Dunfries. Or from METRO: Nutley to Maple Ave (Rt 123), Left Maple, Right Flint Hill, Left Vale, Left Dunfries.

201 Charles Street in Vienna- Listed at $1,295,000

Enjoy 5 bedrooms, 4.5 baths and 3 finished levels! Brand new in the heart of Vienna . . . walking distance to great restaurants, wonderful shops & convenient to public transportation.

Directions: From Tysons: Route 123 South, Left Branch Road, Right Locust Street to corner of Charles Street on the left. Or from Vienna Metro: Nutley Street to Vienna, Right Maple Ave (Rt 123), Right Glyndon Ave, Left Locust to corner of Charles Street on the right.

Delightful colonial set among flowering trees on a breathtakingly beautiful cul-de-sac “acre” lot backing to parkland! Quality built with spacious rooms, hardwood floors on two levels, a sunsplashed updated kitchen & lots of other wonderful updates & upgrades!

More info

There may be snow on the ground (AGAIN!), but Spring has already sprung in real estate. And it’s time for another weekly update on the Vienna Oakton real estate market!

But first, we’ve had several readers contact us. They are wondering whether we are seeing a Buyer’s Market or a Seller’s Market. Well, that’s one of the reasons we are reporting here each week on the number of months supply of listings - so that you can track the trends as we move from market to market. (Sometimes it happens as quickly as that!)

Let me explain.

• A “balanced” market is considered to be a market where there is a 6 month supply of homes.
• So if homes are selling at a rate of 20 homes a month, and there are 120 homes on the market – this would be a “balanced market”. That’s because if 20 homes sell each month, it would take 6 months to clear the inventory of homes.
• On the other hand, if there were only 60 homes on the market, and 20 sold per month, the months supply would be 3 months. This would be what is called a Seller’s Market.
• When the reverse happens, and there is MORE than a six months supply of homes, we would be in a Buyer’s Market. (Does this sound like one of those “word problems” you used to do in grade school? LOL)

In Vienna & Oakton, in the overall market - there is currently a 3 month supply of homes based on the sales rate of the past 90 days. (Note however, that there is still a great divide in markets between homes over $800,000 and under $800,000. So if you are thinking of buying or selling - you would want to have us analyze your specific market much more in depth.)

Now - on to this week’s update.

Here’s what’s happening in Vienna:

• In the past week, 13 homes in Vienna went under contract. (That’s the same number that went under contract the previous week and the week before that.)
• Net inventory decreased slightly and there are currently 149 homes on the market.
• We now have a 3.1 month supply of homes (down from 3.2 months the previous week and 3.3 months in early January.)

Now, here’s the update for Oakton:

• In Oakton, 4 homes went under contract this past week. (The same number as went under contract the previous week.)
• Total active listings is 51, with only 4 townhomes and only 6 condos available for sale in all of Oakton.
• Average days on market has decreased from 168 days in mid January to 145 days currently.
• Supply in Oakton matches Vienna at 3.1 months..

We’ll continue to update you weekly so that if you are thinking of buying or selling a home in Vienna or Oakton, you will be “in the know” about what’s happening in general in TODAY’S market. and please don’t hestitate to contact us for an analysis specific to either the home you want to sell or the area where you want to buy. It would be our pleasure to assist you!

For those of you who’d rather watch than read, don’t miss our weekly Vienna Oakton Video Market Update with Special Belt Team Correspondent, Ryan R (age 10)! (For those of you who are engineers - charts & graphs will be published tomorrow!)

The Belt Team is proud to announce that we just sold ANOTHER listing at a price ABOVE the Zillow “Zestimate”. . . this time at $28,000 above. (Our last listing to go under contract sold for $79,000 above the “Zestimate”.)

We’d say that makes the score:

Belt Team - 2

Zillow - 0

If you’d like to talk to The Belt Team about selling YOUR home, contact us at (703) 242-3975.

Today is Friday and that means it’s time for our Open House Theme Song of the Week. We’ve got two great homes being held open. One is a brand new listing in Great Falls and the other is the last new home available at fabulous Francis Young Estates in Vienna. Come visit us!

But first, let the Beatles inspire you with the words below - and maybe we can “take you away” to your new home!

“Roll up, roll up for the mystery tour.

Roll up, roll up for the mystery tour.

Roll up WE’VE GOT EVERYTHING YOU NEED, roll up for the mystery tour.

Roll up SATISFACTION GUARANTEED, roll up for the mystery tour.

The magical mystery tour is hoping to take you away, Hoping to take you away.”

Here’s where you will find The Belt Team this weekend:

~ Sunday, January 31st from 12:30 to 3PM @ Francis Young Estates in Vienna

~ Sunday, January 31st from 1PM to 4PM @ 9908 Mill Run Drive in Great Falls

9908 Mill Run Drive, Great Falls - Listed at $885,000

Directions from Tysons: Route 7 West, Right Colvin Run Rd, Right Robindale, Right Phoenix, Right Mill Run to #9908 on right. (You got that - right? <wink>)

Francis Young Estates - 1 new home remains - $1,249,900

The home for sale is located at 1845 Mamie Dyer Lane in Vienna. The home being held open at 9512 Francis Young Lane is under contract, but will give you an idea of the spectacular quality & finish work of master builder Sekas Homes. (Note - Sekas Homes is also building in other locations in Oakton and Vienna;  and can also build a custom home on your lot!)

Directions: From Rt 123 in Vienna, Proceed North on Beulah Road ¾ of a mile. New cul-de-sac “Francis Young Lane” on left just past State Street.

For those of you who’d rather watch than read, don’t miss our weekly Vienna Oakton Video Market Update with Special Belt Team Correspondent, Ryan R (age 10)!

Even though it’s January, Spring has definitely sprung in real estate. And it’s already time for another weekly update on the Vienna Oakton real estate market!

Let’s start with Vienna:

***********************************************************************

• In the past week, 13 homes in Vienna went under contract.
• Net inventory has still only increased slightly and inventory for single family homes has actually gone down.  There are currently 153 homes on the market. 
• Average days on market for active listings in Vienna is 164 days.
• We now have a 3.2 month supply of homes, down from 3.3 months last week.

For details on what’s happening in your neighborhood, make sure you contact The Belt Team. Here’s an example of why:

• In Vienna, there are 153 homes on the market.
• Of those 153, 72 are listed under $899,000 and 81 are listed at $899,000 and higher.
• The homes listed under $899,000 have an average days on market of only 110 days, while the higher priced homes are averaging 218 days.
• That means homes under $899,000 are selling twice as fast - in less than 3.67 months instead of more than 7 months.

So even within the same town, it’s a “Tale of Two Markets”. (It’s actually more a tale of almost infinite markets, depending on price range, school district, location, etc - which is why it’s important for you to consult with Realtors who know YOUR market.)

Now, here’s the update for Oakton:

• In Oakton, 4 homes went under contract this past week.
• Total active listings is 49, with only 4 townhomes and only 5 condos available for sale in all of Oakton.
• Average days on market is 155 days.
• There is now less than a 3 month supply of inventory on the market.

We’ll be updating you weekly so that if you are thinking of buying or selling a home in Vienna or Oakton, you will be “in the know” about what’s happening in general in TODAY’S market. and please don’t hestitate to contact us for an analysis specific to either the home you want to sell or the area where you want to buy. It would be our pleasure to assist you!