You 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
