Greenbriar Fairfax: Homes sold this Quarter
Jill: Could you post a report showing what homes have sold in Greenbriar, Fairfax since October 1 of 2009?
Steve: Jill, we have posted them here: HomesByBachman.com Just click and you will be taken to a report that is known as a CMA or Competitive Market Analysis.This report shows in detail the homes that have sold in Greenbriar since October 1 of this year. The second column is the List (or advertised) price of the property at the time of contract.
The next one over is the price that the buyer actually paid for the property
at settlement. The column headed DOMP shows the number of days the property was on the market The acronym stands for Days On Market Property. This figure is very encouraging for Greenbriar home sellers.
As you will see most homes received contracts within an average of 29 days with the longest market time being 164 days.
These are great numbers for the community. The rest of the columns are pretty easy to understand. The far right column, headed subsidy, is the amount of money the buyer received back from the seller for closing cost assistance.
Tom: These numbers do look good for prospective sellers compared to months past don't they?
Steve: Yes Tom they do. The inventory of available homes has fallen 
steadily since spring, not just in Greenbriar but across Northern Virginia. Even the hard hit areas of Woodbridge and Manassas have experienced low inventory and the aparent end of a steep price slide.
Combine short supply with interest rates hovering around the high 4% to the low 5% range and the $8,000 tax credit for first time home buyers and you have a recipe for the strong seller's market that we have been in since late spring. The tax credits for buyers carry over until next spring and the hope is that the government will continue to support policies that keep interest rates low.
Barring any new economic surprises, appropriately priced Greenbriar homes in good condition should continue to sell well for the forseeable future.
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