Cedar Lakes Homes Weekly Report - Fair Lakes VA

By
Real Estate Agent with Keller Williams Realty - Serving Northern Virginia

INTRODUCTION

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As of today (December 4, 2008 12 PM there are 5 active homes in Cedar Lakes (-3 from last week) and 4 homes that are currently under contract and 3 homes that have sold in the last 30 days.

Here's the breakdown of all active listings in MLS:

Condos- 4
Cedar Lakes A - 1 (1 regular sales)
Christopher at Cedar Lakes - 3 (2 short sales, 1 bank owned)

Townhomes- 1  
Cedar Lakes - 1 (1 short sales)


NEW LISTINGS

According to MLS, there was 0 new listing this week.


UNDER CONTRACT

According to MLS, there are 1 townhomes (1 short sale) and 2 condos under contract (1 short sale, 1 regular sale)

12491 Hayes Ct #202 - (23 DOMP) Condo 2bd/2ba

12437 ERICA HILL LN - (90 DOMP) TH - 4bd/3ba

12461 HAYES CT #203 - (41 DOMP) Condo 2bd/2ba


I will have the final numbers for these once they close


SOLD

According to MLS, 3 home has sold in the last 30 days .

4338 THOMAS BRIGADE LN - 16 Days On The Market (DOMP) TH - 4bd/3ba   List Price - $399,900 Close Price - $390,000 Seller Subsidy -$11,700  

4256 Wheeled Caisson Sq - (12 DOMP) TH 3bd/3ba   List Price -$279,900 Close Price -$279,000 Seller Subsidy -$0

4310R CANNON RIDGE CT #90 - (218 DOMP) Condo 2bd/2ba

List Price - 375,000
Sales Price - 345,000
Seller Subisdy - 0


Fairfax Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008

These stats are for all real estate in the 22033 zip code for the Month of October
  2008 2007 % Change
Total Sold $ Volume $13,514,790 $17,929,266 -24.6%
Avg. Sold Price $409,539 $484,575 -15.4%
Median Sold Price $374,000 $410,000 -8.7%
Total Units Sold 33 37 -10.8%
Avg. Days on Market 81 87 -6.9%
Avg. List Price for Solds: $432,953 $515,425 -16%
Avg. Sale Price as a percentage of Avg. List Price: 94.59% 94.01%





EXPIRED or WITHDRAWN

There has been 1 listings that have been taken off the market in the last 30 days.


RENTALS -
There are currently 3 townhomes and 4 condos for rent 

2 townhomes have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We will take care of all the work for you and do background checks on the applicants to make sure they are qualified.


OBSERVATIONS

We had 2 townhomes close this week. One was a bank owned and the other was a regular sale.  We still have yet to see a short sale close for some time here at Cedar Lakes.   Just in the last month or two have TH prices come under 400k for the Fair Lakes area.  So this is a great sign for first time buyers !!  I don't see them dropping that much more right now.  

Rumor has it that interest rates might be forced even lower than their record lows right now.  If this is so, everyone that has 10-15k saved up should be buying their first home !    You will definitley be saving a lot of money buying instead of renting.  


Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.








 

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Nate Johnson

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