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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Baileys Crossroads. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 703-855-7696
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| Average Home Price | $775,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 10-30 days |
| Best Selling Price Range | $600,000 - $649,000 |
| Worst Selling Price Range | $600,000 - $649,000 |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | Equal buyers and sellers |
| Buyer Activity for the past 90 days in Baileys Crossroads is | Increasing |
| Seller Activity for the past 90 days in Baileys Crossroads is? | Increasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Yes the sellers are getting multiple offers and the avarage time on the market has gone from 14 on the market in May 2010 to 10 days on the market in May 2011. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 5-10% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | If the buyer qualifies for the home there is Financing available |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | Housing inventory is at a moderate level making the location a very desirable location to live. |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Job Growth |
| Nearest Metro Area | Washington DC |
| Housing Hot Spots | Most cities within the Fairfax County area are considered ’Housing Hotspots’ The median sales price for homes in ZIP code 22041 in Falls Church from Jun 11 to Aug 11 was $248,660 based on 68 sales. Compared to the same period one year ago, the median sales price decreased 2.4%, or $6,066, and the number of sales decreased 12.8%. Average price per square foot for homes in 22041 was $237, a decrease of 3.7% compared to the same period last year. There are currently 87 resale and new homes in ZIP code 22041, including 1 open house, as well as 63 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 22041 was $451,315 for the week ending Sep 14, which represents a decrease of 0.5%, or $2,372, compared to the prior week. Popular ZIP codes in Falls Church include 22042 and 22046, with average listing prices of $512,016 and $661,982. |
| Average Sold Price | $775,000 - View Graph Trend |
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Roger Nakazawa
Olympic Realty
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