Community Corner
Fort Hunt December Real Estate Statistics
Take a look at how the 22308 ZIP code fared in December.
Hello Fort Hunters!
Hope all are well and enjoyed the holiday season. Before too long we will have warmth, flowers and lots more daylight.
Let’s take a look at how our zip code fared in December 2012.
Find out what's happening in Greater Alexandriawith free, real-time updates from Patch.
The chart below continues to show us that 2012 was a solid growth year for our market. As you can see in the chart below, we are up in every category year over year (with the exception of days on market, which is a good thing). We experienced huge gains both in the number of closed residential sales, and in total sales volume year over year. The average selling price is up over 4% year over year and over 2% month over month. Our average days on market went up month over month; we believe this is due to current inventory levels being very low. The listings that are lingering on the market (not selling) are homes that the market/buyers’ deemed to be overpriced. Homes that come on the market priced well (in the market/buyers’ eyes) are flying off the shelves. Additionally, as we have spoken about many times before in this column, we have many varying price points in our zip code and some of the higher price residences can take longer to sell.
Statistic
Find out what's happening in Greater Alexandriawith free, real-time updates from Patch.
Values
Year over Year
Month over Month
Total Sold Dollar Volume
$13,173,000
+182.74%
+14.25%
Closed Sales
19
+171.43%
+11.76%
Median Sold Price
$588,000
+23.79%
-12.89%
Average Sold Price
$693,316
+4.17%
+2.23%
Average Days on Market
78 days
-7.14%
+4%
Average Sold to Original List Ratio
94.51%
+5.78%
-1.64
At right is a snapshot of our current inventory picture looking historically at the last five years of December sales. You can see quickly from this visual graph that our sales activity is very strong. We have a good amount of pending sales as well that should close in January, and we look forward to reporting more good news to you when we receive those statistics.
This inventory comparison shows inventory levels from December 2012 and December 2011. We have similar inventory levels in December 2012 as in December 2011, but we have 3 more pending sales.
Inventory
Dec-12
Dec-11
% Change
Active Listings
40
42
-4.76%
New Listings
8
9
-11.11%
New Contingents
8
8
0.00%
New Pendings
8
9
-11.11%
All Pendings
14
11
27.27%
Lastly, let’s look at a year over year detailed comparison of sales from December 2012 to December 2011. Sold dollar volume way up! Average sold price up over 4%! Units closed in December up 171%!
Another solid statistic is that sellers got almost 95% of list price in December 2012, as compared to below 90% in December 2011.
Sold Summary
Dec 2012 Dec 2011 % Change
Sold Dollar Volume $13,173,000 $4,659,000 182.74%
Average Sold Price
$693,316 $665,571 4.17%
Median Sold Price
$588,000 $475,000 23.79%
Units Sold 19 7 171.43%
Average Days on Market
78 84 -7.14%
Average List Price for Solds
$706,226 $702,100 0.59%
Average Sold Price to Original List Price Ratio
94.5% 89.4% 5.78%
All in all, December was another stand out month for us in our neck of the woods. We agents are very curious to see what happens to inventory levels in the spring market. Interest rates are still very low, and prices appear to be rising, so now appears to be an excellent time to buy or sell a home.
We would love to hear from you!
Lyssa Seward
Jane Cole
Please visit our neighborhood blog: www.WaynewoodRealEstate.blogspot.com
