Written by Coldwell Banker Realtors and Fort Hunt Specialists Lyssa Seward and Jane Cole
Hello Fort Hunters! We hope you all have been enjoying summer as much as we have. It is a truly a wonderful season. Neighborhood pools are buzzing, parks are being enjoyed and of course, our fantastic George Washington Parkway path is full of walkers, runners, roller bladders and bikers. We enjoy so many wonderful amenities that contribute to our fabulous quality of life in the Fort Hunt area.
Let’s take a look at both June 2013 real estate statistics in zip code 22308, and also review what happened during the second quarter of 2013. quarter of 2013. Needless to say, we had a fantastic 2nd quarter, and real estate sales and pricing are quite solid in our community!
Below is a quick look at our inventory totals comparing June 2013 to June 2012. You can see that the active listings and the new listings are very similar year over year. While the total number of pending contracts is down almost 12%, the new under contracts (or pending homes) are double in June 2013, as compared to June 2012. This indicates that more contracts have gone under contract this June as compared to June 2012.
Inventory June 2013
JUNE 2013 JUNE 2012 % CHANGE
Active Listings 54 53 1.89%
New Listings 31 31 0.00%
New Under Contracts 10 5 100.00%
New Contingents 15 16 -6.25%
New Pendings 25 21 19.05%
All Pendings 30 34 -11.76%
The inventory snapshot above shows up sales activity over the last 5 years in the month of June. Look at how many more closed sales we have in 2013 versus the last 5 years. Inventory is low, and demand is high for well-priced homes. Well priced homes coming on the market are literally flying off the shelves!
The chart above illustrates a comparison of sold data comparing June 2013 to June 2012 (year over year) and comparing June 2013 to May 2013 (month over month). You can see that our sold dollar volume is up both year over year and month over month is up – year over year almost 95%!! Our closed sales are also up significantly both year over year and month over month. Average days on market is down to 30, which is extraordinarily short. Sellers are getting an average of 98.11% of their original list price. Additionally, our median and average sales prices are up 11.36% and 13.44% respectively. These are great numbers!
Our last statistical analysis for June will give us an overview of much of the information discussed above. Solid numbers all the way around. Our sold volume year over year for June is up almost 95%! We had 15 more homes sell in June 2013, than June 2012, which is significant in our zip code. What a great time to sell a house! With interest rates being still at historical lows, what a great time to buy a house as well! For the sold summary, see the third photo in the gallery above.
Let’s take a look at 2nd quarter as a whole for our zip code (22308). There were 84 homes sold (went to closing from April 1, 2013 to June 30, 2013. In the photo gallery above is a chart that illustrates the lowest list price, and the highest list price, what a huge differential of price points we span in our community! The average list price for a home in zip code 22308 in 2nd quarter 2013 was $693,103.00.
You can see from the above charts, illustrating both a summary of active properties (53) are available for purchase. The price point differentials are also highlighted in this chart.
So there you have it folks. We have been graced with a most excellent spring selling season in our neck of the woods. Interest rates are creeping up, but they are still very low historically speaking. Let us know if you have questions or comments, we would love to hear from you.
Lyssa Seward
Lseward@cbmove.com
Jane Cole
jcole@cbmove.com
www.LyssaSeward.com
www.JaneColeSellsHomes.com
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