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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Mount Vernon. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 703-967-2675
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| Average Home Price | $575,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 0-5% |
| Average Time on Market | 30-60 days |
| Best Selling Price Range | $450,000 - $499,000 |
| Worst Selling Price Range | $950,000 - $999,000 |
| Prices As % of Asking Price | 85-90% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Mount Vernon is | Increasing |
| Seller Activity for the past 90 days in Mount Vernon is? | Increasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Sellers are receiving multiple offers with qualified banking, loans are usually preapproved. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Yes, financing is available for all buyers who are qualified in our area. FEWER bank owned properties, or REO’s, are requiring pre-approval from their banks to accept quality buyer contracts. |
| Housing Inventory | Limited Supply |
| Inventory Comments | Sellers are realizing to get top dollar for their properties, they are chosing to upgrade their kitchens and baths. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Job Growth |
| Nearest Metro Area | Washington |
| Housing Hot Spots | Most cities within the Fairfax County area are considered ’Housing Hotspots’. Alexandria, Kingstowne, and Springfield are some of the best locations for commuting. |
| Average Sold Price | $575,000 - View Graph Trend |
Mount Vernon Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
Contact Information
Lisa Langlais Realtor ABF SFR SRES
703-967-2675
Request More Information Let me answer your questions!
Ask Me!
Blog Archives
Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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Request More Information Let me answer your questions! Ask Me!
Lisa Langlais Realtor ABF SFR SRES
Keller Williams Realty-Kingstowne
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 703-967-2675
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