Community Corner
Fort Hunt Real Estate Statistics: February 2012
Spring is upon us, and the spring selling season—like the blossoms—are popping!
You will notice that our statistics are always a month behind, as they are not released until the 10th of the following month
Were you wondering what went on with our local market Real Estate for the month of February in our zip code?
It was a VERY active month for real estate.
Find out what's happening in Greater Alexandriawith free, real-time updates from Patch.
Check out the chart attached which gives us a nice visual of the activity, specifically with under contract (pendings) listings being much higher in February 2012 than the last four Februarys. This is pretty remarkable, and agents are noticing both new listings and existing listings going under contract very quickly.
Below you will notice what a strong month February was as we are up in every statistic and had 11 closed sales. Buyers are buying, inventory is low, and interest rates are really, really low and attractive right now, saving buyers real money over the life of their home loans.
Find out what's happening in Greater Alexandriawith free, real-time updates from Patch.
You will notice that average days on market, although up year over year by 14 percent, is down almost 52 percent from last month which is another indication of how many homes are going under contract.
Statistic
Values
Year over Year
Month over Month
Total Sold Dollar Volume
$7,236,500
+190.51%
+123%
Closed Sales
11
+175%
+83.33%
Median Sold Price
$610,000
+10.81%
+19.37%
Average Sold Price
$657,864
+5.64%
+21.64%
Average Days on Market
73 days
+14.06%
-51.97%
Average Sold to Original List Ratio
95.43%
+2.12%
+6.96%
The chart below illustrates the most interesting statistic of the month; take a look at the active listings, way down from February 2011. There were 22 new listings that came on the market in February, and many went under contract very quickly. Our under contracts statistics show almost twice as many pendings as February 2011! Lower inventory translates into good news for sellers. We appear to be trending in a pattern where new listings are selling very quickly.
Inventory
Feb-12
Feb-11
% Change
Active Listings
34
58
-41.38%
New Listings
22
19
15.79%
New Under Contracts
6
0
0.00%
New Contingents
16
7
128.57%
New Pendings
22
7
214.29%
All Pendings
26
14
85.71%
We will be keeping our ear to the ground to see how the spring selling season trends in the next few months. There likely will be a good amount of new listings/inventory coming on the market for sale. If this current trend continues, this could be a fantastic year for real estate sales in zip code 22308.
We will be back with you next month. Meanwhile, please let us know if you have questions or comments by clicking the link below:
Happy buying and selling!
