Sales Trends
NAR President Gary Thomas said homes are selling faster. “The typical home is selling nearly four weeks faster than it did a year ago,” he said. “In this environment, REALTORS® can help buyers strike a balance between moving quickly and protecting their interests, such as making offers contingent upon a satisfactory home inspection and obtaining a loan; of course, a loan pre-qualification may help too.” The median time on market for all homes was 71 days in January, down from 73 days in December and is 28.3 percent below 99 days in January 2012. Short sales were on the market for a median of 94 days, while foreclosures typically sold in 47 days and non-distressed homes took 75 days; 31 percent of all homes sold in January were on the market for less than a month. First-time buyers accounted for 30 percent of purchases in January, unchanged from December; they were 33 percent in January 2012. All-cash sales were at 28 percent of transactions in January, down from 29 percent in December and 31 percent in January 2012. Investors, who account for most cash sales, purchased 19 percent of homes in January, down from 21 percent in December and 23 percent in January 2012. Single-family home sales increased 0.2 percent to a seasonally adjusted annual rate of 4.34 million in January from 4.33 million in December, and are 8.5 percent above the 4.00 million-unit level in January 2012. The median existing single-family home price was $174,100 in January, up 12.6 percent from a year ago. Existing condominium and co-op sales rose 1.8 percent to an annualized pace of 580,000 in January from 570,000 in December, and are 13.7 percent higher than the 510,000-unit level a year ago. The median existing condo price was $169,600 inJanuary, up 9.4 percent from January 2012.Performance by Region
Regionally, existing-home sales in the Northeast increased 4.8 percent to an annual rate of 650,000 in January and are 12.1 percent above January 2012. The median price in the Northeast was $230,500, up 2.4 percent from a year ago. Existing-home sales in the Midwest rose 3.6 percent in January to a pace of 1.16 million and are 17.2 percent higher than a year ago. The median price in the Midwest was $131,800, which is 8.6 percent above January 2012. In the South, existing-home sales increased 1.0 percent to an annual level of 1.96 million in January and are 14.0 percent above January 2012. The median price in the South was $152,100, up 13.4 percent from a year ago. Existing-home sales in the West fell 5.7 percent to a pace of 1.15 million in January and are 5.7 percent below a year ago. The median price in the West was $239,800, which is 26.6 percent above January 2012. Source: NARProperties in 22308
Hollin Hall Village
5 bd
4 ba
3,613 sqft
On Site: 14 Days
Listing courtesy of Coldwell Banker Realty
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Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate. -
Enjoying Winkler Botanical Preserve
We had a great time walking the trails. -
Don’t take chances with real estate.
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REDUCED: 7202 Churchill Rd, McLean
Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000 -
Good Shepherd Housing and Family Services
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…