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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Seven Corners. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 703-855-7696.
The median sales price for homes in ZIP code 22044 in Falls Church from Dec 11 to Feb 12 was $119,750 based on 18 sales. Compared to the same period one year ago, the median sales price decreased 69.8%, or $276,250, and the number of sales decreased 25%. Average price per square foot for homes in 22044 was $194, a decrease of 18.1% compared to the same period last year. There are currently 26 resale and new homes in ZIP code 22044 on Trulia, including 23 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 22044 was $638,584 for the week ending Feb 29, which represents an increase of 2.8%, or $17,108, compared to the prior week.
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| Average Home Price | $125,000 - View Graph Trend |
| Average Price Compared to Last Year | Down more than 30% |
| Average Time on Market | 10-30 days |
| Best Selling Price Range | $100,000 - $149,000 |
| 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 | No Change |
| Buyers’ or Sellers’ Market | Equal buyers and sellers |
| Buyer Activity for the past 90 days in Seven Corners is | Increasing |
| Seller Activity for the past 90 days in Seven Corners is? | Increasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Sellers Are Getting Multiple Offers On The Inventory Of The Homes Currently On The Market Due To The Location |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | More than 50% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Financing Is Available for all Buyers who are Qualified in the area of Seven Courners |
| Housing Inventory | Good supply - Some Prices |
| 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’ |
| Average Sold Price | $125,000 - View Graph Trend |
Seven Corners Local News
News for Seven Corners, VA - September 21st, 2011 3:04pm
The median sales price for homes in ZIP code 22044 in Seven Corners from Jun 11 to Aug 11 was $178,750 based on 24 sales. Compared to the same period one year ago, the median sales price decreased 52.7%, or $199,316, and the number of sales decreased 45.5%. Average price per square foot for homes in 22044 was $270, an increase of 3.4% compared to the same period last year. There are currently 33 resale and new homes in ZIP code 22044 on the research conducted , including 1 open house, as well as 28 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 22044 was $575,626 for the week ending Sep 14, which represents an increase of 0.9%, or $4,928, compared to the prior week. Popular ZIP codes in Seven Corners include 22042 and 22046, with average listing prices of $512,016 and $661,982
News for Seven Corners, VA - August 22nd, 2011 2:08pm
Average price per square foot for Seven Corners VA was $248, an increase of 6% compared to the same period last year. The median sales price for homes in Seven Corners VA for May 11 to Jul 11 was $392,500 based on 100 home sales. Compared to the same period one year ago, the median home sales price increased 9%, or $32,500, and the number of home sales decreased 43.5%. There are currently 515 resale and new homes in Seven Corners on Trulia, including 5 open houses, as well as 263 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Seven Corners VA was $557,959 for the week ending Aug 10, which represents a decrease of 0.1%, or $369, compared to the prior week.
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Roger Nakazawa
703-855-7696
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Mortgage Rates
– May 28th, 2012 –
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30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
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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...
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Request More Information Let me answer your questions! Ask Me!
Roger Nakazawa
Olympic Realty
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 703-855-7696
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