25
Jan
15

State of the Great Falls, VA 22066 Housing Market — Quarter End 12/31/14 — Text Summary

State of the Great Falls, VA 22066 Housing Market — Quarter End 12/31/14 — Text Summary

  •  $700,000 – $899,999Sellers’ Market. The number of homes that sold between 7/1/14 and 12/31/14 plus the number of homes currently under contract is more than 1½ times the number of homes currently listed for sale. If the 20 homes that were withdrawn from the market or expired went back on the market for sale, this price range would shift to a buyers’ market.
  • $900,000 – $1,199,999Sellers’ Market. The number of homes that sold between 7/1/14 and 12/31/14 plus the number of homes currently under contract is 1½ times the number of homes currently listed for sale.  If you factor in the 12 properties that were withdrawn and listings that expired, this price range would shift to a buyers’ market.
  • $1,200,000 – $1,499,999Sellers’ Market. The number of homes sold between 7/1/14 and 12/31/14 plus the number of properties currently under contract is 25% more than the number of homes currently listed for sale. If you factor in the 25 homes that were withdrawn from the market and the listings that expired, this price range would shift from a sellers’ market to a buyers’ market.
  • $1,500,000 – $1,999,999 Sellers’ Market. There are 6 fewer homes that are currently listed for sale than the number of properties sold between 7/1/14 and 12/31/14 plus the number of homes currently under contract. If you factor in the 22 properties that expired or were withdrawn from the market, the number of homes for sale would be more than 1½ times the number of homes sold plus under contract homes and this price range would become a buyers’ market.
  • $2,000,000 – $2,499,999Buyers’ Market. The number of homes currently listed for sale is more than 2 ½ times the number of properties sold between 7/1/14 and 12/31/14 plus the number of homes currently under contract. If you factor in the 8 homes that were withdrawn from the market and the homes that expired, the number of homes for sale would be more than 3 ½ times the number of sold plus under contract homes and this price range would become a stronger buyers’ market.
  • $2,500,000 – $2,999,999Buyers’ Market. The number homes currently listed for sale is almost 2 times the number of properties sold between 7/1/14 and 12/31/14 plus the number of homes currently under contract. If you factor in the 6 homes that were withdrawn from the market and the homes that expired, the number of homes for sale would be more than 2 ½ times the number of sold plus under contract homes and this price range would become a stronger buyers’ market.
  • $3,000,000 and upStrong Buyers’ Market. The number of homes currently listed for sale is 6 times the number of homes sold between 7/1/14 and 12/31/14 plus the number of homes currently under contract. If you factor in the 8 homes that were withdrawn from the market and the homes that expired, the number of homes for sale would be 10 times the number of sold plus under contract homes and this price range would become an even stronger buyers’ market.

Note: All of the numbers for the withdrawn and expired listings were cross referenced against currently active listings, sold listings and under contract listings.  If they were listed in another category, they were excluded from the numbers and thus not accounted for more than once.

For more information on the Great Falls real estate market, please contact Tania Hosmer at TaniaHosmer@gmail.com or (703) 403-8225.

 


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“It’s Not Your Father’s Real Estate Market Anymore” ®

Tania grew up in Northern Virginia and is a life long resident of the area. She has lived in the Reserve in McLean, Virginia with her husband and 2 children since 2001. Tania and her husband Jim purchased their lot in Section 1 of the Reserve in June of 1999 and built their home in the following 18 months. She holds a bachelor’s degree in Physics from Mary Washington College and an MBA in Finance from The George Washington University. Tania began her real estate career over 20 years ago. In addition to real estate sales, her experience includes managing residential renovation projects in the greater Washington area, planning and overseeing new residential construction and managing rental properties. After completing her MBA in 1996, she joined CIG International (a Washington-based residential real estate investment firm) as Vice President where she conducted extensive due diligence investigations of real estate investment opportunities and oversaw ongoing investment projects. Tania became a residential real estate agent in 2006.

Tania’s Contact Information:

Tania Hosmer
Keller Williams Realty
6820 Elm Street
McLean, Virginia 22101
cell: 703-403-8225
email: taniahosmer@gmail.com
website: www.taniahosmer.com

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