1335 SPRINGTIDE PL
HERNDON, VA 20170
List Price: $159,900
Prior Sale: $350,000 06/05/2006
Listing Date: 01/21/08
-54.3%
2169 MONAGHAN DR
HERNDON, VA 20170
List Price: $174,900
Prior Sale: $358,000 07/06/2005
Listing Date: 01/23/08
-51.1%
3227 NEALON DR
FALLS CHURCH, VA 22042
List Price: $329,900
Prior Sale: $566,100 05/23/2005
Listing Date: 01/24/08
-41.7%
6113 ROCKY WAY CT
CENTREVILLE, VA 20120
List Price: $199,000
Prior Sale: $340,000 06/07/2006
Listing Date: 01/17/08
-41.5%
2242 COCQUINA DR
RESTON, VA 20191
List Price: $249,900
Prior Sale: $421,000 09/29/2005
Listing Date: 01/23/08
-40.6%
(See "Same-House Sales" sidebar for more)
Friday, January 25, 2008
Fairfax County -- On the Market
Posted by Harriet at 8:52 PM
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Driving around Fairfax City (22030, 22031 zips) I've noticed quite a few new "For Sale" signs since the start of the new year. A few have an obnoxious placard that reads "Coming Soon!" as if we are all waiting with bated breath. It looks like some sellers are positioning themselves for the fabled "Superbowl Bounce."
I think it's going to take one more "silent spring" for reality to set in.
Virginia MLS shows the inventory in Fairfax City at a much greater starting point than '07, '06, and '05. 2005 was a crazy year for no inventory -- 20 properties for sale in Fairfax City as opposed to 160 now.
The Virginia MLS website hasn't been updated since the 17th -- I think when it is it will show quite a jump. ZipRealty shows 470 properties added just in the last week for the whole county of Fairfax.
Harriet,
One interesting thing I noticed this time last year in 22032/22031 was that many properties that had laguished unsold even after price drops and were withdrawn, were relisted at the original higher listing price.
This year, only one or two houses have been relisted at higher prices. Most that languished in 22032 are now relisted at approx. 10% off the original listing price.
Still very, very few discount sales in areas of FX that are actually desirable (McLean, Great Falls, Oakton)
Orange line SHFs in Arlington continue to show an increase in some homes, check out 1711 N. Harvard, sold for 1.325MM in March 06 and just closed at 1.4MM
Areas like Mclean are going to be the last places to get hit, but no area is going to be safe when all is said and done. It takes time for the effects of the bust to move through the area.
drove around great falls, va today.
Amazing (disgustingly so) how big some houses are in that area...and they are made into neighborhoods...its like 30 Luis X1V's live there!?
But I noticed many for sale signs on 3+ million dollar houses...definitely looks like they overbuilt.
I have lived in that area for 2 1/2 years. I have a friend in Bethesda so I travel the Georgetown Pike quite frequently. I recall there were very few for sale signs when I moved there. Now it seem there is one after another. Go back into some the area off GeoTown Pike and there are many. many more.
There are some tasteful large houses, but then there are some that are so garish and ostentatious one would think the DC Mafia decided it was the place to be. Money can't buy taste.
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