Northern Virginia's April 2012 housing sales were up 11% YoY, and median prices were up 6.7% to $384,250. The average days on the market decreased 14% to 54 days.
(The
above statistics include Alexandria City, Arlington County, Fairfax
City, Fairfax County, Falls Church City, Fauquier County, Loudoun
County, Manassas City, Manassas Park City, and Prince William County).
Thursday, May 10, 2012
Northern Virginia's April Housing Sales
Posted by Harriet at 10:30 AM
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18 comments:
Dear April 2012 buyers in immunington and immundria:
Seeing as yet anther new, alltime high prices are being recorded in immunington, and immundria (and with volume up, sales up, inventory down to boot) on behalf of all certain 2009 bears, I wanted to write to you and offer an apology on their behalf.
In the spring of 2009 when the immunozone was bottoming out, they told you to wait because they couldnt believe that these were the best prices you would ever see. For some, they were no doubt, well intentioned. But for the rest of them:
I dont know why they continued to disbelieve rational bulls like Cara, CRT, tedK, et al, who had extremely good arguments for why 2009 could be the bottom, even for the immunozone. I dont know why they continued to rehash old and tired arguments that had been proven, at best dubious, or at worst false, again and again.
I dont know why they stated opinion as fact. I dont know why they stated some things with such certainty, when in reality, they had no idea what they were talking about.
And for the worst of them, (and you know precisely who I am talking about) I dont know why they made such irresponsible statements without regard to their truth, accuracy, or any measure of accountability.
I know this is not want you want to hear but as it is now clear that they were wrong, I want to say to you on their behalf (since they will never say this themselves):
we are sorry.
Signed, Spring 2009 bears.
FX CTY inventory down 20% YOY.
A little birdie told me that some certain bear has widened the window of doom through 2018. So, I guess we won't know for another 6 yrs. Don't count your chickens...
Well, housing prices are obviously going to be higher when there are such few to choose between and the pool of buyers is so large.
The "birdie" returned to correct my misrepresentations. The collapse will begin in 2012 and has already started in many areas. This will be a total collapse of financial and housing markets. We should bottom by 2014 but there is a greater than 50% chance that we will experience a second wave of decline lasting until 2016 and maybe as late as 2020.
There will be untold civil unrest, unemployment and hardship that will far exceed the Great Depression. Income tax rates will go as high as 90% and people will not have the after-tax income (if they even have a job) to pay their mortgages. We will have a 20yr (30?) downturn in RE akin to Japan.
There is probably some stuff that I left out. I'm sure that I will be corrected.
I would assume that if this "collapse" is not fully apparent by the end of 2012, a certain "doomer" will admit he is/was wrong - rather than simply moving the goal post.
Huh. One datapoint doth not a trend make, but the place near Ballston my wife and I sold three years ago was just sold again for precisely what we sold it for in 2009 (and I strongly suspect there was some money paid on the back end). I'd say this might support the argument that the "increase" we're hearing about is a difference in the mix rather than an actual increase in value.
gruntled-
The CS index only reports houses that are sold twice, so mix has little to no impact on it. I agree mix has a lot to do with the median price on a local area.
I think most of the price gains in the last few years are a rebound in the prices of the hardest hit VA areas (e.g. Loudoun, PWC...)
"Va_Investor said...
The "birdie" returned to correct my misrepresentations. The collapse will begin in 2012 and has already started in many areas. This will be a total collapse of financial and housing markets. We should bottom by 2014 but there is a greater than 50% chance that we will experience a second wave of decline lasting until 2016 and maybe as late as 2020."
VAI -- I assume, of course, we are talking about Contrarian here.
Seeing as there are no recent posts (or more specifically deleted posts) how did he return to correct your misinterpretations? Is he sending you personal emails or something?
Yes, personal e-mails. It's a very strange world. Fear of Big Brother or fear of Anon? Your guess is as good as mine. I've had an update about "helicoptor Ben" but haven't really thought about the points made.
Gruntled - there are far more data points to consider than CS or your prior home in Ballston. Fiserve, Corelogic, Zillow, Redfin, Transunion, Zandi, Buffet, Trump etc. I read this stuff and also take into consideration CBNC, Wash Biz. Journal and any other stuff available. I have plenty of time on my hands to review the data.
Va_I, other than real estate, what would your first choice be for investing? I'm a minor landlord and am satisfied with those holdings. I've been impressed with your mature approach to things!
da55id,
Thanks for the compliment but If you follow my advice to general investing it will be a sure path to financial ruin. I stick with a model portfolio based on years until retirement.
okey dokey
"Va_Investor said...
Yes, personal e-mails. It's a very strange world. Fear of Big Brother or fear of Anon? Your guess is as good as mine. I've had an update about "helicoptor Ben" but haven't really thought about the points made."
LOL. So basically, he still reads/lurks, but unlike his old habit of writing garbage (and then deleting it), he now communicates to us via you. Sad and histerical all at the same time!
Its almost as if he is undead and you are a medium, conjuring up his spirit with a seance and quija board...
Oh ghost of Contrarian... can you hear us??? Tell us, oh great one, what "will" happen to DC real estate... Tell us, oh clairvoyant one, about the prophecies of Robert Prechter and Hal Turner...glug, glug, glug, glug, glug...
Wow I've been gone from this blog for a year or two and it's still filled with the same old tiffs!
Wow I've been gone from this blog for a year or two and it's still filled with the same old tiffs!
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