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Figuring out the Vienna Home Market… July 2009

August 26, 2009 By Doug Francis

economyYou may be bombarded with July’s real estate sales data but I want to keep it simple, and the Vienna home market  in the 22182 zip code appears to have picked up pace in July over 2008’s numbers. If you are a seller with a home priced over $800,000 then you are still searching for a needle in a haystack. I just looked over real estate resale data from MRIS of the Vienna zip codes ( 22180 and 22182)  for the month of July, and the biggest gain in the number of sales or transactions are in the 22182 zip code. But please know that this information is reported from MRIS which is not guaranteed to be 100% accurate but should be considered pretty darn close.

In my opinion, the key factors were low interest rates (around 5% on 30-year fixed), lower price points for homes vs. last year, and buyer anticipation that we were bouncing along a real estate bottom.

Numbers for 22182:

  • Total Units Sold in July 2009, 36 vs. 26 in 2008 (up 38.46%)
  • Average Sold Price in July 2009, $694,444 vs. $786,410 in 2008 (down 11.69%)
  • In the $500,000 to $599,999 range, 7 sold of 15 active listings
  • In the $600,000 to $699,999 range, 9 sold of 19 active listings
  • In the $700,000 to $799,999 range, 6 sold of 13 active listings
  • In the $800,000 to $999,999 range, 4 sold of 21 active listings
  • In the $1,000,000 to $2,499,999 range, 4 sold of 58 active listings
  • Average days on market in July 2009 was 65 vs. 72 in 2008
  • The average sold price in July 2009 was 93.64% of the average list price

The statistics for the Town of Vienna, 22180, show a similar trend.

Numbers for 22180:

  • Total Units Sold in July 2009, 32 vs. 28 in 2008 (up 14.29%)
  • Average Sold Price in July 2009, $568.267 vs. $564,224 in 2008 (up 0.72%)
  • In the $400,000 to $449,999 range, 8 sold of 10 active listings
  • In the $450,000 to $499,999 range, 5 sold of 11 active listings
  • In the $500,000 to $599,999 range, 7 sold of 17 active listings
  • In the $600,000 to $799,999 range, 4 sold of 6 active listings
  • In the $800,000 to $899,999 range, 2 sold of 4 active listings
  • In the $1,000,000 to $2,499,999 range, 2 sold of 35 active listings
  • Average days on market in July 2009 was 64 vs. 99 in 2008 (down 35.35%)
  • The average sold price in July 2009 was 96.51% of average list price
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Filed Under: Blog Tagged With: buyer, MRIS, real estate, seller, Vienna

About Doug Francis

A Realtor specializing in unique and new homes around Vienna, Virginia, Doug started writing a first-hand blog about his everyday real estate experiences a decade ago. In depth, helpful and fun has always been the objective. Outside real estate, he was profiled in a commercial for Verisign's "Where the World Clicks" campaign, and was quoted in Money Magazine's Best Places to Live article on Vienna. He's a Boston University graduate who feels morning coffee is non-negotiable.

Helping my clients add value to their home has always been important to me. My step-by-step recommendations are intended to increase market appeal, return more then invested, and help net more when selling.

Beyond just sellers, I have helped many new homeowners make smart design decisions when remodeling. We gutted our house and totally remodeled it, and I pass that experience along because living in a nice house is simply better.

My background… I’ve been an active licensed agent in Virginia for 25 years, work at TTR Sotheby’s International Realty in McLean, and sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Questions? Email doug@dougfrancis.com or call me at (703) 304-6827 to discuss your plans. Cheers!

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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I have been a full-time Realtor licensed in Virginia since 1991, and cover a big territory specializing in the Vienna real estate market and custom homes for sale.

I have unique knowledge of digital real estate marketing, and my marketing starts here. My clients have been attracted to my results-oriented strategy for years, and I am accepting new clients for Fall 2022 right now.

Thanks for reading, and feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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