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Vienna Real Estate Market Trends – Virginia

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Vienna Real Estate Market Conditions and Trends

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

Spring 2012 Market Update Average price per square foot for Vienna VA was $330, an increase of 3.1% compared to the same period last year. The median sales price for homes in Vienna VA for Dec 11 to Feb 12 was $607,000 based on 71 home sales. Compared to the same period one year ago, the median home sales price increased 23%, or $113,700, and the number of home sales decreased 48.9%. There are currently 220 resale and new homes in Vienna on Trulia, including 21 open houses, as well as 53 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Vienna VA was $1,001,903 for the week ending Feb 29, which represents an increase of 0.5%, or $4,797, compared to the prior week. If you can qualify, now is an exceptional time to buy a home in Vienna. Low rates with improving economic conditions make a home purchase a great value! Call now for more information at 703-855-7696
Average Home Price	$625,000 - View Graph Trend

Average Price Compared to Last Year	Up 20-25%

Average Time on Market	10-30 days

Best Selling Price Range	$600,000 - $649,000

Worst Selling Price Range	$1,000,000+

Prices As % of Asking Price	95-100%

Existing Home Prices for the past 90 days are?	Increasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Vienna is	Increasing

Seller Activity for the past 90 days in Vienna is?	Increasing

Multiple Offers?	Yes

Multiple Offers Commentary	Sellers are getting multiple offers on most properties and the avarage sales price to original list price has increased from 96.5% in May 2010 to 97.9% in May 2011.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	20-25%

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 Vienna.

Housing Inventory	Limited Supply

Inventory Comments	The housing inventory is decreasing thus making the Vienna area a very attractive location to purchase in.

Greatest Activity	Repeat 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	$625,000 - View Graph Trend

Vienna Local News

News for Vienna, VA - September 21st, 2011 3:38pm
Average price per square foot for Vienna VA was $336, an increase of 1.8% compared to the same period last year. The median sales price for homes in Vienna VA for Jun 11 to Aug 11 was $644,500 based on 250 home sales. Compared to the same period one year ago, the median home sales price increased 12.1%, or $69,500, and the number of home sales decreased 16.1%. There are currently 270 resale and new homes in Vienna on the research conducted in Vienna, including 8 open houses, as well as 64 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Vienna VA was $954,249 for the week ending Sep 14, which represents a decrease of 0.6%, or $5,817, compared to the prior week.

News for Vienna, VA - August 22nd, 2011 2:15pm
Average price per square foot for Vienna VA was $399, a decrease of 0.7% compared to the same period last year. The median sales price for homes in Vienna VA for May 11 to Jul 11 was $770,000 based on 170 home sales. Compared to the same period one year ago, the median home sales price decreased 3.6%, or $29,000, and the number of home sales decreased 17.1%. There are currently 372 resale and new homes in Vienna , including 4 open houses, as well as 39 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Vienna VA was $1,966,898 for the week ending Aug 10, which represents a decrease of 3.1%, or $62,478, compared to the prior week.

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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%

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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.

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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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