Brambleton, VA Real Estate Market Down Exactly 13.5%!

By
Real Estate Agent with Keller Williams Realty

Brambleton real estate market is down exactly 13.5%. How do I know? Something unique happend.  On 3/12/09,  this home sold for $610,000.  The seller actually bought this home a year ago (1/15/08) for $705,000 ($715,000 sold price - $10,000 subsidy).  That's 13.5% decrease.  This is the ulitmate apple to apple comparison.  

Another interesting observation is that over 80% of resales in 2009 Q1 were distressed sale.  Short sales led the way with 43% of all resale market.  Due to strong interest in short sales, I'll be posting more short sale related blogs on my new short sale blog.

 

Number of Resale Homes Sold in 2008 Q1: 25
Number of Resale Homes Sold in 2009 Q1: 21
Change: 16% decrease  

Average List Price in 2008 Q1: $464,659
Average List Price in 2009 Q1: 
$418,914

Change: 9.8% decrease  


Average Net Price (Sold Price - Subsidy) in 2008 Q1: $446,502
Average Net Price (Sold Price - Subsidy) in 2009 Q1: 
$413,100
Change: 7.5% decrease  

 

Average DOMP in 2008 Q1: 68
Average DOMP in 2009 Q1: 
75

Change: 10.3% increase 

Number of Short Sales 2008 Q1: 2
Number of Short Sales 2009 Q1: 9

Change: 
350% increase
 

 

Number of Foreclosures 2008 Q1: 11
Number of 
Foreclosures 2009 Q1: 8
Change: 27.3% decrease  

 

Percentage of Distressed Resales in 2008 Q1: 56%
Percentage of Distressed Resales in 2009 Q1: 81%

Change: 44.6% increase 

Click here to view all resales in 2008 Q1 and 2009 Q1 in spread sheet format.

Click here to download all sales in 2008 Q1 in PDF file with photos. 
Click here to download all sales in 2009 Q1 in PDF file with photos.

 

Comments (1)

Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Well, I guess the seller would not qualify for Obama's new refinance plan, huh? Since the maximum is 105% loan-to-value, I'm not sure how many people will actually qualify. Thanks for sharing the latest statistics!

Apr 07, 2009 11:46 AM