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Business & Tech

The September Real Estate Market in Fort Hunt

September proved to be more active than the previous four years.

Hello Fort Hunters! Hope you are all enjoying this fabulous fall season.

Attached to this story you will find our September 2011 real estate market statistics for zip code 22308.

Everyone loves to talk about real estate, and so do we!  The below information will keep you in the know about exactly what is going on “real estate wise” in our community.

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As you will see in the chart below, September 2011 proved to be more active than the previous four years. More closed sales, more contingent contracts. We are still doing very well, especially when compared to the majority of the United States. We are lucky to be so close to Washington, D.C., where the local economy is better than most.

Looking at the chart below, this strong September brought us an increase of over 263 percent in Total Sold Dollar Volume year over year, and a slight decrease from August 2011 closed sales.

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Both our median sold and average sold prices were up (negligible dip year over year for median sold price). Our days on market were up both year over year and month over month, but it always necessary to keep in mind that we have a small sample here in 22308, and we will have to keep our eyes on future days on market trends to see if this continues. Our average sold compared to list price ration was down both year over year and month over month, meaning that sellers got a smaller percentage of list price compared to the final sales price.  Since we have many varying price points in zip code 22308, this is not a huge shift, but we will keep our eyes out for future sales trends.

 

Statistic

Values

Year over Year

Month over Month

Total Sold Dollar Volume

$14,817,500

+263.36%

-6.03%

Closed Sales

21

+200%

-12.5%

Median Sold Price

$598,000

-0.33%

+3.73%

Average Sold Price

$705,595

+21.12%

+7.39%

Average Days on Market

100 days

+63.93%

+108.33%

Average Sold to Original List Ratio

92%

-5.29%

-3.04%

Our final chart shows us current inventory. We have fewer total (4) listings on the active market than September 2010, and less new listings as well. We have significant increases in pending contracts, which means that October’s closed sales should be strong as well.

Inventory

 

 

 

 

 Sep-2011

 Sep-2010

 % Change

 Active Listings

 61

 65

 -6.15%

 New Listings

 14

 26

 -46.15%

 New Under Contracts

 3

 4

 -25.00%

 New Contingents

 12

 7

 71.43%

 New Pendings

 15

 11

 36.36%

 Total Pendings

 23

 21

 9.52%

We would love to hear from you, you can reach us at Jcole@cbmove.com and Lseward@cbmove.com.

Enjoy the river, path, parks and wonderful activities that our community has to offer.

Jane Cole and Lyssa Seward

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