Sally: What single family homes have sold in Franklin Glen since July of 2009?
Steve: Sally,we have posted the single family homes that have sold here: HomesByBachman.com and townhouses here: HomesByBachmanTowns. Just click and you will be taken to a report that is known as a CMA or Competitive Market Analysis. We went back to July since there were only a couple of homes that sold this past quarter and we wanted a larger sample for the reports.
These reports show in detail the 4 single family homes and the 6 town 
houses that have sold in Franklin Glen since July 1 2009. The first column of interest in the report is the List price at the time the property went under contract. The next one over is the price that the buyer actually paid for the home. 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 sellers.
As you will see, the average DOMP for the SF homes was 47 days with the longest market time being 96. For town houses the average DOMP was 36 with the longest being 102. These are good 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.
Cindy: These numbers do look good for prospective sellers compared to months past don't they?
Steve: Yes Cindy they do. The inventory of available homes has fallen 
steadily since spring, not just in Franklin Glen 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 Franklin Glen homes in good condition should continue to sell well for the forseeable future.
To see the report for November sales in Fairfax County click: NVAR Reports
Herndon real estate agents, homes for sale in Herndon, Townhouses for sale in Herndon, Listing Agents in Herndon, condos for sale in Herndon, new homes inHerndon, Herndon home buyer's agents, Franklin Farm, Chantilly Highlands, Bradley Farm, Franklin Glen, Old Town Herndon, Steve and Jan Bachman real estate, real estate photography
Comments (0)Subscribe to CommentsComment