Community Corner
September Real Estate Statistics for Fort Hunt
A monthly look at real estate statistics in the 22308 ZIP code.
Hello Fort Hunters!
We can hardly believe it is the middle of October already! This is a special time of year in our corner of the world. Children and adults enjoying the cooler weather, Halloween approaching, trees changing, boot and sweater weather, walks, runs, bike rides along the Potomac, etc. etc. etc….
How did the real estate market in our ZIP code, 22308, fare this September? Let’s look at the charts below and analyze.
Find out what's happening in Greater Alexandriawith free, real-time updates from Patch.
As you can see, the total sold dollar volume is down both year over year and month over month. Listing Inventory is a bit low right now and there were only 8 closed/sold properties in September 2012 in our ZIP code. Since the sold volume is low, and our price points are so variable, we needn’t panic about the slight drop in both the median sold and average sold prices year over year. Month over Month we were nominally variant on both the median and average sold prices.
Average days on market are significantly down both year over year and month over month. Houses that enter the marketplace competitively priced are landing contracts quickly. In some of the charts below, you will notice that our under contract activity was very strong in September. Our average sold to original list ratio was up almost 5 percent year over year and pretty steady month over month. On average, our sellers are getting about 96 percent of their asking list pricing.
Find out what's happening in Greater Alexandriawith free, real-time updates from Patch.
Statistic
Values
Year over Year
Month over Month
Total Sold Dollar Volume
$4,726,000
-68.11%
-59.97%
Closed Sales
8
-61.9%
-57.89%
Median Sold Price
$572,500
-4.26%
+1.33%
Average Sold Price
$590,750
-16.28%
-4.93%
Average Days on Market
24 days
-76%
-65.71%
Average Sold to Original List Ratio
96.58%
+4.98%
-0.52%
The chart below illustrates the inventory scenario compared year over year. Oddly enough, we had the same number of active listings in September 2012 as in September 2011. Our new listings are up significantly (more than twice as many) this September as compared to September last year. Under contracts are steady, and our contingent and pending contracts are up in all categories. You can tell by looking at the new listings compared to active listings that September 2012 was a stronger month than September 2011.
Inventory
Sep-12
Sep-11
% Change
Active Listings
61
61
0.00%
New Listings
29
14
107.14%
New Under Contracts
2
3
-33.33%
New Contingents
19
12
58.33%
New Pendings
21
15
40.00%
All Pendings
28
23
21.74%
The chart below shows a more comprehensive view year over year sold summary. There were 13 less closed sales in September 2012 as compared to September 2011. We needn’t focus on the average list price decrease year over year, as there were only eight homes that closed, and price points in our ZIP code are extremely variable. The rest of the sold statistics have been discussed above.
Sold Summary
Sep-12
Sep-11
% Chan
Sold Dollar Volume
$4,726,000
$14,817,500
-68.11%
Average Sold Price
$590,750
$705,595
-16.28%
Median Sold Price
$572,500
$598,000
-4.26%
Units Sold
8
21
-61.90%
Average Days on Market
24
100
-76.00%
Average List Price for Sold
$595,325
$736,918
-19.20%
Average Sold Price to Original List Price Ratio
96.60%
92%
4.98%
Lastly, we have our September snapshot showing us a quick overview of sales activity over the last five years. Many of the new homes that came on the market in September went under contract in September and we will see what our statistics look like in October when many of these contingent contracts will have closed.
Until next month, Happy buying and selling --let us hear from you!
Lyssa Seward and Jane Cole
Coldwell Banker Residential Brokerage
