Numbers for 22101:

• Total Units Sold in August 2009, 42 vs. 40 in 2008 (up 5.00%)
• Average Sold Price in August 2009, $1,035,690 vs. $960,431 in 2008 (up 7.84%)
• In the $700,000 to $799,999 range, 6 sold with 16 active listings
• In the $800,000 to $899,999 range, 4 sold with 12 active listings
• In the $900,000 to $999,999 range, 6 sold with 14 active listings
• In the $1,000,000 to $2,499,999 range, 16 sold with 120 active listings
• In the $2,500,000 to $4,999,999 range, 1 sold with 15 active listings
• Average days on market in August 2009 was 93 vs. 105 in 2008
• The average sold price in 2009 was 93.46% of the average list price

Numbers for 22102:

• Total Units Sold in August 2009, 25 vs. 27 in 2008 (down 7.41%)
• Average Sold Price in August 2009, $599,160 vs. $1,050,865 in 2008 (down 42.98%) **
• In the $700,000 to $799,999 range, 1sold with 5 active listings
• In the $800,000 to $899,999 range, 2 sold with 6 active listings
• In the $900,000 to $999,999 range, 3 sold with 5 active listings
• In the $1,000,000 to $2,499,999 range, 3 sold with 61 active listings
• In the $2,500,000 to $4,999,999 range, 0 sold with 33 active listings
• In the $5,000,000 & Over range, 0 sold with 8 active listings
• Average days on market in July 2009 was 91 vs. 118 in 2008
• The average sold price in 2009 was 90.51% of the average list price

**This zip code reflects some extremes in pricing as there were 14 sales under $500k and 3 sales over $1. million. The McLean home market includes condominiums in all price ranges.

But, if you are a seller with a home priced over $800,000 then you are still searching for a needle in a haystack. I just looked over real estate resale data from MRIS of the Vienna zip codes ( 22180 and 22182)  for the month of August, and there wasn’t a gain in either area.

But please know that this information is reported from MRIS which is not guaranteed to be 100% accurate but should be considered pretty darn close.

Keep in mind, mortgage rates were super-low in August. Still, the numbers were flat!

Numbers for 22182:

• Total Units Sold in August 2009, 30 vs. 31 in 2008 (down 0.57%)
• Average Sold Price in August 2009, $753,718 vs. $733,616 in 2008 (up 2.74%)
• In the $500,000 to $599,999 range, 6 sold with 19 active listings
• In the $600,000 to $699,999 range, 8 sold with 19 active listings
• In the $700,000 to $799,999 range, 8 sold with17 active listings
• In the $800,000 to $999,999 range, 3 sold with 17 active listings
• In the $1,000,000 to $2,499,999 range, 4 sold with 55 active listings
• Average days on market in August 2009 was 74 vs. 68 in 2008
• The average sold price in July 2009 was 94.59% of the average list price

The statistics for the Town of Vienna, 22180, show a similar trend.

Numbers for 22180:

• Total Units Sold in August 2009, 27 vs. 27 in 2008 (0.00%)
• Average Sold Price in August 2009, $528,583 vs. $601,283 in 2008 (down 12.09%)
• In the $400,000 to $449,999 range, 8 sold with 8 active listings
• In the $450,000 to $499,999 range, 3 sold with 7 active listings
• In the $500,000 to $599,999 range, 7 sold with 21 active listings
• In the $600,000 to $799,999 range, 2 sold with 4 active listings
• In the $800,000 to $899,999 range, 1 sold with 2 active listings
• In the $1,000,000 to $2,499,999 range, 2 sold of 30 active listings
• Average days on market in August 2009 was 93 vs. 52 in 2008 (up 78.85%)
• The average sold price in July 2009 was 96.51% of average list price

Numbers for 22101:

• Total Units Sold in July 2009, 42 vs. 45 in 2008 (down 6.65%)
• Average Sold Price in July 2009, $945,693 vs. $1,262,965 in 2008 (down 25.12%)
• In the $700,000 to $799,999 range, 4 sold of 19 active listings
• In the $800,000 to $899,999 range, 6 sold of 18 active listings
• In the $900,000 to $999,999 range, 4 sold of 13 active listings
• In the $1,000,000 to $2,499,999 range, 12 sold of 125 active listings
• In the $2,500,000 to $4,999,999 range, 1 sold of 20 active listings
• Average days on market in July 2009 was 69 vs. 132 in 2008
• The average sold price in 2009 was 92.08% of the average list price

Numbers for 22102:

• Total Units Sold in July 2009, 27 vs. 32 in 2008 (down 15.63%)
• Average Sold Price in July 2009, $920,233 vs. $934,903 in 2008 (down 1.57%) **
• In the $700,000 to $799,999 range, 3 sold of 6 active listings
• In the $800,000 to $899,999 range, 1 sold of 7 active listings
• In the $900,000 to $999,999 range, 0 sold of 6 active listings
• In the $1,000,000 to $2,499,999 range, 5 sold of 62 active listings
• In the $2,500,000 to $4,999,999 range, 2 sold of 36 active listings
• Average days on market in July 2009 was 91 vs. 109 in 2008
• The average sold price in 2009 was 86.88% of the average list price

**This zip code reflects some extremes in pricing as there were 14 sales under $500k and 6 sales over $1. million. The McLean home market includes condominiums in all price ranges.

In my opinion, the key factors were low interest rates (around 5% on 30-year fixed), lower price points for homes vs. last year, and buyer anticipation that we were bouncing along a real estate bottom.

Numbers for 22182:

• Total Units Sold in July 2009, 36 vs. 26 in 2008 (up 38.46%)
• Average Sold Price in July 2009, $694,444 vs. $786,410 in 2008 (down 11.69%)
• In the $500,000 to $599,999 range, 7 sold of 15 active listings
• In the $600,000 to $699,999 range, 9 sold of 19 active listings
• In the $700,000 to $799,999 range, 6 sold of 13 active listings
• In the $800,000 to $999,999 range, 4 sold of 21 active listings
• In the $1,000,000 to $2,499,999 range, 4 sold of 58 active listings
• Average days on market in July 2009 was 65 vs. 72 in 2008
• The average sold price in July 2009 was 93.64% of the average list price

The statistics for the Town of Vienna, 22180, show a similar trend.

Numbers for 22180:

• Total Units Sold in July 2009, 32 vs. 28 in 2008 (up 14.29%)
• Average Sold Price in July 2009, $568.267 vs. $564,224 in 2008 (up 0.72%)
• In the $400,000 to $449,999 range, 8 sold of 10 active listings
• In the $450,000 to $499,999 range, 5 sold of 11 active listings
• In the $500,000 to $599,999 range, 7 sold of 17 active listings
• In the $600,000 to $799,999 range, 4 sold of 6 active listings
• In the $800,000 to $899,999 range, 2 sold of 4 active listings
• In the $1,000,000 to $2,499,999 range, 2 sold of 35 active listings
• Average days on market in July 2009 was 64 vs. 99 in 2008 (down 35.35%)
• The average sold price in July 2009 was 96.51% of average list price

Numbers for 22182:

• Total Units Sold in May 2009, 25 vs. 17 in 2008 (up 47%)
• Average Sold Price in May 2009, $672,560 vs. $846,776 in 2008 (down 20.57%)
• In the $500,000 to $599,999 range, 7 sold of 18 active listings
• In the $600,000 to $699,999 range, 6 sold of 31 active listings
• In the $700,000 to $799,999 range, 5 sold of 18 active listings
• In the $800,000 to $999,999 range, 0 sold of 23 active listings
• In the $1,000,000 to $2,499,999 range, 3 sold of 55 active listings
• Average days on market in April 2009 is 70 vs. 114 in 2008
• The average sold price in April 2009 was 93.91% of average list price

The statistics for the Town of Vienna, 22180, reflected sharply contrasting numbers.

Numbers for 22180:

• Total Units Sold in May 2009, 23 vs. 26 in 2008 (down 11.54%)
• Average Sold Price in May 2009, $520,835 vs. $566,265 in 2008 (down 8.02%)
• In the $400,000 to $449,999 range, 3 sold of 14 active listings
• In the $450,000 to $499,999 range, 7 sold of 11 active listings
• In the $500,000 to $599,999 range, 2 sold of 21 active listings
• In the $600,000 to $799,999 range, 0 sold of 16 active listings
• In the $800,000 to $899,999 range, 0 sold of 10 active listings
• In the $1,000,000 to $2,499,999 range, 2 sold of 43 active listings
• Average days on market in April 2009 is 134 vs. 68 in 2008 (up 97.06%)
• The average sold price in April 2009 was 92.90% of average list price

• Total Units Sold in April 2009, 28 vs. 34 in 2008 (down 17.65%)
• Average Sold Price in April 2009, $861,659 vs. $1,113,396 in 2008 (down 22.61%)
• In the $700,000 to $799,999 range, 5 sold of 28 active listings
• In the $800,000 to $899,999 range, 0 sold of 26 active listings
• In the $900,000 to $999,999 range, 3 sold of 13 active listings
• In the $1,000,000 to $2,499,999, 8 sold of 131 active listings
• Average days on market in April 2009 is 150 vs. 148 in 2008
• The average sold price in 2009 was 91.04% of average list price

So this market remains highly competitive as we head further into the “Spring Market” with home sellers waiting anxiously for buyers to make offers. And with such a large inventory for sale in the 22101 average  price range, the home buyers remain in control of the housing market.

• Total Units Sold in April 2009, 23 vs. 13 in 2008 (up 76%)
• Average Sold Price in April 2009, $760,479 vs. $750,923 in 2008 (up 1.27%)
• In the $500,000 to $599,999 range, 2 sold of 23 active listings
• In the $600,000 to $699,999 range, 6 sold of 28 active listings
• In the $700,000 to $799,999 range, 6 sold of 33 active listings
• Average days on market in April 2009 is 102 vs. 100 in 2008
• The average sold price in April 2009 was 91.74% of average list price

So this market remains highly competitive as we head further into the “Spring Market” with home sellers waiting anxiously for buyers to make offers. And with such a large inventory for sale in the 22182 average  price range, the home buyers remain in control of the housing market.

When I meet with buyer clients, I like to discuss how our home search is going to involve a multi-pronged effort in order to be successful. The client will use the resources of the Internet with sites like Homesdatabase.com,  Realtor.com, Trulia or Zillow, and a few other super secret strategies. Yes, I will have the MRIS/MLS along with a network of successful agents that I have cultivated over the years and a few clever old school ideas.

But a few weeks ago when some clients were being extra specific, I drilled down through the Fairfax County tax records to look for old-timers who may be getting ready to move. You know, the old “come on lady, move out now while you can still walk” strong-arm strategy, similar to the training tape we just watched last week featuring Alec Baldwin.

But seriously, I found some folks who had been in their home 20+ years and sent them a compelling letter with followed up phone calls. As fate would have it, one guy who was just starting the pre-listing process and received a letter called his agent asking if my letter “was for real”.

“Who is it from?” she asked.

“Some guy named Doug Francis with Remax real estate” he responded.

“Well, I have known Doug for 17 years, so I feel it’s legit” she said.

So we saw the house, made an offer that was accepted, and now just have to wait for the appraisal to get finished. A successful home search, even in Vienna, Virginia, needs more than one strategy to get the job done.

Old school!

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