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Oakton Real Estate Market Trends – Virginia

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Oakton Real Estate Market Conditions and Trends

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

Winter 2012 Market Update If you can qualify, now is an exceptional time to buy a home in Oakton. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 703-599-8894
Average Home Price	$650,000 - View Graph Trend

Average Price Compared to Last Year	Up 15-20%

Average Time on Market	90-120 days

Best Selling Price Range	$700,000 - $749,000

Worst Selling Price Range	$1,000,000+

Prices As % of Asking Price	90-95%

Existing Home Prices for the past 90 days are?	Decreasing

Market Trend	Increasing

Buyers’ or Sellers’ Market	Equal buyers and sellers

Buyer Activity for the past 90 days in Oakton is	Increasing

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

Multiple Offers?	Yes

Multiple Offers Commentary	If priced right, homes are selling quickly. The most popular price range is really from $600,000-800,000.

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	More detached homes have sold than attached homes. The prices for attached homes have declined but the prices for detached homes have increased, as well as the number of detached homes sold. In Oakton the average price in May for detached homes was $804,210. The average price for attached homes was $306,656.

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Lower prices with good selection and competitive interest rates creates a perfect time to buy in Oakton!

Nearest Metro Area	Washington DC

Housing Hot Spots	Most cities within the Fairfax County area are considered ’Housing Hotspots’

Average Sold Price	$650,000 - View Graph Trend

Oakton Local News

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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Gene Mechling CRS, GRI, ABR, CDPE

703-599-8894

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Mortgage Rates

– Feb 23rd, 2012 –
---------------------------------

30 yr. fixed rate: 3.90%
15 yr. fixed rate: 3.17%
30 yr. jumbo rate: 4.68%
15 yr. jumbo rate: 3.96%

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Gene Mechling CRS, GRI, ABR, CDPE

Prudential PenFed

703-599-8894

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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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