Despite what you hear in the press, I found this to be a very busy Spring. In looking at the numbers of detached Single Family Homes sold in North Point between this year and the same time last year, I was not the only one who was busy.
Number of Detached Homes Sold From 4/1/08-6/30/08: 22
Average Net Price in 2008: $888,889
Number of Detached Homes Sold From 4/1/09-6/30/09: 35
Average Net Price in 2009: $829,117
Percentage Price Change: -6.7%
Number of Townhouses Sold From 4/1/08-6/30/08: 47
Average Net Price in 2008: $427,203
Number of Townhouses Sold From 4/1/09-6/30/09: 36
Average Net Price in 2009: $430,039
Percentage Price Change: + less than 1%
Number of Condominiums Sold From 4/1/08-6/30/08: 7
Average Net Price in 2008: $276,227
Number of Condominiums Sold From 4/1/09-6/30/09: 7
Average Net Price in 2009: $271,006
Percentage Price Change: -2%
The net of this is that we have seen increased purchasing power in the detached homes; more sold than last year and at lower prices. In the townhouse market we saw fewer sold than last year, but the prices remained steady. In the condominium market, the number of units sold remained the same with a minimal price drop. Looking at the total number of units sold, across all housing types, the numbers are almost constant from 2008 to 2009.
*This data was gathered from MRIS
If you are interested in buying or selling a home in North Reston, I would be happy to meet with you and discuss how these numbers will impact your investment. My direct line is 571-643-4902.
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