Tuesday, December 16, 2008

Fair Ridge Weekly Report 12/10/08-12/16/08

MyFairRidgeHome.com

INTRODUCTION

Another townhome has gone under contract in Fair Ridge. With interest rates dropping dramatically first time home buyers and investors are starting to buy !

To find out what your home is worth and receive a free no obligation Fair Ridge neighborhood report each month of what exactly is selling in Fair Ridge click here

As of today (December 16, 2008 10 AM there are 5 active homes in Fair Ridge and 2homes that are currently under contract and 1 home that has sold in the last 30 days.

Here’s the breakdown of all active listings in MLS:

Townhomes- 5

1 Bank Owned, 2 Regular Sales, 2 Short Sale


NEW LISTINGS

According to MLS, there was 0 new listing this week.


UNDER CONTRACT

According to MLS, there is 2 townhomes (1 bank owned and 1 regular sale) under contract.

4203 Fox Lake Dr -14 (DOMP) 4bd/4ba

12331 Quiet Hollow Ct - 15 (DOMP) 4 bd/4ba

I will have the final numbers for these once they close


SOLD

According to MLS, 1 home has sold in the last 30 days .

12301 Sleepy Lake Ct - (15 DOMP) 4bd/4ba (Bank Owned)

List Price - $339,000
Sales Price - $318,000
Seller Subsidy - $8,500

12217 Apple Orchard Ct - (124 Days on Market) 3bd/4ba/1garage (Bank owned)

List Price - $359,000
Sale Price - $335,000
Seller Subsidy - $450

More than 30 days...

12208 Apple Orchard Ct ( 9 DOMP) 3bd/3ba

List Price - $359,000
Close Price - $359,000
Seller Subsidy - $10,000



Fairfax Condos Sold for 2007 vs. 2008




Fairfax Townhomes Sold for 2007 vs 2008







These stats are for all real estate in the 22033 zip code for the Month of November
2008 2007 % Change
Total Sold $ Volume $11,624,023 $19,439,225-40.2%
Avg. Sold Price$387,467 $431,983 -10.3%
Median Sold Price $362,500 $420,000-13.7%
Total Units Sold 3045 -33.3%
Avg. Days on Market7069 -1.4%
Avg. List Price for Solds: $407,368 $466,933 -12.8%
Avg. Sale Price as a percentage of Avg. List Price: 95.11% 92.51%





EXPIRED or WITHDRAWN

There has been 0 listings that have been taken off the market in the last 30 days.


RENTALS

There is currently 1 townhome for rent - 3bd/4ba/1garage

3 (+1) townhomes have been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We will take care of all the work for you and do background checks on the applicants to make sure they are qualified. We are also a fully licensed property management group also. Just ask us more about how this benefits you.


OBSERVATIONS

One more townhome under contract in the last week. This townhome was listed much higher than what the market is asking so once this closes it will be interesting to see what the sales price ended up being.

Owners, we have a short sale team in place to help you with your situation. Very little if no financial implications to short selling your townhome. Please contact us asap





Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.













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