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Burke Real Estate Market Trends – Virginia

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Burke Real Estate Market Conditions and Trends

Homes for Sale > Real Estate Market > Virginia Real Estate Market > Burke Real Estate Market

Winter 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Burke. Low rates makes a home purchase a great value! Why rent when you can buy for similar monthly payments? Call the local real estate expert Martina Burns now for more information at 703-650-8533 or toll free at 866-361-6655
Average Home Price	$400,000 - View Graph Trend

Average Price Compared to Last Year	Up 5-10%

Average Time on Market	30-60 days

Best Selling Price Range	$400,000 - $449,000

Worst Selling Price Range	$850,000 - $899,000

Prices As % of Asking Price	95-100%

Existing Home Prices for the past 90 days are?	Decreasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	Equal buyers and sellers

Buyer Activity for the past 90 days in Burke is	Decreasing

Seller Activity for the past 90 days in Burke is?	Decreasing

Multiple Offers?	No

Multiple Offers Commentary	Foreclosures and short sales in ok condition are getting multiple offers within the first few days on market, most at least 5-10 offers, some 10-20 offer, therefore homes are selling above asking price in the 200,000-300,000 price range.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	10-15%

Is Financing Available For Qualified Buyers?	Yes

Housing Inventory	Limited Supply

Inventory Comments	homes in the lower price range < $ 300,000 are in very high demand

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Job Growth

Nearest Metro Area	Washington DC

Housing Hot Spots	Everything inside the Beltway or within 5 miles and close to Metro or VRE.

Average Sold Price	$400,000 - View Graph Trend

Burke Local News

News for Burke, VA - December 21st, 2011 9:00am
copy and paste below link in your browser to see detailed report
22315

Monthly Market Statistics - Detailed Report, November-2011

http://173.203.29.47/get_report.php?action=pdf&loc_type=5&loc_id=22315&time_period=201111

Real Estate News for Burke, VA / Fairfax County - Wednesday March 31st, 2010 8:54am
August 2011 Year To Date update. Please copy and paste this link into your browser!
http://173.203.29.47/get_report.php?action=pdf&loc_type=5&loc_id=22015&time_period=201108

Real Estate News for Burke, VA / Fairfax County - Thursday February 11th, 2010 11:27am
January 2010 Year to Date

Please copy and past this link into your browser

http://www.mris.com/reports/marketupdate/Fairfax%20County.pdf

Trends in Housing Year End 2009 / Fairfax County, Northern VA / News for Burke - Wednesday February
Trends in Housing, a joint publication of MRIS and Delta Associates, provides an in-depth look at the statistics and issues that shape the Mid-Atlantic housing market. Following are highlights of market activity at Year-End 2009:

¡Prices are showing signs of a moderate recovery: 4th quarter prices in the metro are up from the same quarter in 2008, with the Outer jurisdictions outperforming the Core and Inner jurisdictions. Prices will likely gain traction in 2010, as buyer and seller expectations continue to move closer to a balance, facilitating an increase in transaction volume. This is the first time prices have risen on a trailing 12-month basis since the 4th quarter of 2007.
¡Days on market continue to decline compared to both last quarter and a year ago. Properties in the Outer jurisdictions (Loudoun, Prince William and Frederick Counties) have experienced the sharpest decline, but across the region, time on market is at or below the regionfs long-term average.
¡The ratio of inventory to sales continues to decline in most jurisdictions from one year ago. The metro-wide ration of 5.3 monthsf worth of listings is below the normal, healthy standard of 6 months, signaling that demand is beginning to outpace supply.
¡The gap between buyer and seller demands is closing with the average sales price in the 4th quarter of 2009 at 93.7% of list price, the highest share in more than two years.

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Blog Archives

March 2010 (1)

February 2010 (2)

January 2010 (1)

December 2009 (4)

November 2009 (1)

October 2009 (3)

Mortgage Rates

– Feb 13th, 2012 –
---------------------------------

30 yr. fixed rate: 3.89%
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%

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Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)

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