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Monday, July 12, 2010
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10 comments:
MRIS stats are in.
Note: don't pick the VA-format, it will only give that to you for NVAR not individual counties therein.
Unsurprisingly median and average prices are up over 8% YoY for FFX cnty. Median is up 11% YoY. Part of this is clearly mix since once broken into detached and attached, each is only up by 8% ish (and the only category with more units sold this year than last is 4 or more bedrooms, plus the overall detach/attach sold ratio went up).
Since this should be the last month's sales that will be strongly effected by the crunch of the buyer's bribe, nothing unexpected here (for FFX Cnty anyway). Unless you think a shift towards buying SFHs is surprising. I think it's a sign of buying for the long haul which is rational when one can't count on appreciation. But maybe it's a flight towards safety, and buyers are still thinking appreciation-potential, who knows?
Contracts and Contingencies only 1533 for the month. Way down... (from the 2200+ of April, up slightly from the 1400+ of May) but new listings was only 1997, so not that far out of balance either... (compared to the almost 3000 new listings in April)
CNN's ridiculous Top 100 Cities list is out again. Burke made the "Slowest Commute" list at #9 with a median commute of 32.3 minutes. Dale City was #2.
link
I don't get these lists. I know Charlottesville was at the top a couple years ago, but it isn't even in the list this time. Maybe it isn't big enough to qualify?
P.S. I wasn't meaning to knock on Burke, I just used to live there and the Quality of Life/Commuting tab is most important to me. Burke is also #9 on the Financial tab for Top Earning Towns.
Why the hell is Centreville, VA on that list? Usually it's Vienna.... but Centreville? It's not even really a town, just stretches of crappy communities and poorly constucted townhouses.
Jeremy,
Isn't the relevant question not how much time everyone else is spending commuting but how much time you would have to spend commuting?
Given that the top 24 mostly have commute times clustered between 35 and 30 minutes, all above 30, I would say the presence of at least three towns in the DC area, Wheaton, Silver Spring and Burke is more a indicator for the area than a statement on those communities themselves. (well other than lack of extremely local job centers, which again is only relevant if you get a job there...)
What is an "average" commute in the DC metro area? 32 minutes from your front porch to sitting at your office desk seems on the shorter side to me. Do people self-report their commutes? Because it seems like almost everyone claims their commute is shorter than it actually is (even my husband,
after looking and waiting for so many years if i bought a house on a busy street it would feel like i've conceded defeat to RE bubble wouldn't it?
Cara,
I did think about what my commute to my current job will be when selecting target neighborhoods, but I also thought about where any likely future jobs would be should something happen to cause me to switch. My personal decision to choose Oakton is based on the fact that I can get from there to Tysons, Reston/Herndon, or Fairfax easily - all places where I've had software engineering jobs and know I could find another one. It is also convenient to many Inova facilities which is important to my wife.
Jeremy,
I wish they had more categories under quality of life. Parks and recreation would have been good, restaurants and nightlife, churches and community activities would have been others.
Anyway, I concur with your original statement that for the most part the CNN poll is ridiculous, or pretty useless anyway.
http://franklymls.com/FX7211150
273 DOM, it's a flip thats
going very poorly.
Personally i think there was some great stuff there at 180/210K
but now it's rebubbling.
Dropping 3 Large for the beltway in your back yard?
Seems like a ticket to cancer there.
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