The 2010 Bump for Great Falls Virginia Real Estate

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Posted by Jay Seville on Friday, July 2nd, 2010 at 8:12am.

Great Falls Virginia Real Estate Bumps Up in 2010

Great Falls Virginia homes for sale are the most expensive in Northern Virginia.  There are some amazing estates there.  But it is interesting that just around corner can be a old dilapidated house as well.  But for the most part homes are big and come with lots of a half acre and greater.

mansion_1609

The big question is whether all these gains were astroturf–manipulated by the tax credit and very temporary–or real and indicative of a true market shift.  As a broker who mostly works with buyers negotiating prices down I’m a cynic and skeptical.  Each purchase and assessment on homes my clients are interested in is case by case though.  With so many homes under contract I’m not the typical desperate agent, but can assess homes and advise you as a consultant what the most aggressive offer we can get away with and still get a counter offer from the seller with [sorry about ending sentence with preposition:) ].

great_falls_virginia_home_pool_400Now that’s my kind of backyard assuming there is a charcoal grill built in somewhere with cabs and a refrigerator 🙂

 

 

 

 

 

Median 2010 Sold Price for Great Falls VA Real estate

As is the case for all of Northern Virginia there were a lot of positive trends for Great Falls real estate.  One of those is home values.  I took a 3 month block of sales from 2010 and compared it to the same 3 months in 2009 to try to avoid monthly ups and downs.  The YTD (year to date) was not available.

sold_price_2010_great_falls_1050

Numbers of Great Falls Homes Sold Increases 30-40%

The number of homes sold in 2010 has gone up 30-40%.  However much of this large increase may be diminished when the year end numbers are compared–perhaps even all of it  Both buyers and sellers moved their transactions up in the calendar year to get in on the tax credit.

great_falls_virginia_real_estate_sales_411

Days on the Market to Sell a Home Declines Sharply

This is also in line with the rest of Northern Virginia real estate sales such as Fairfax County.

days_on_market_great_falls_2010_415

The days on market to sell a Great Falls VA homes for sale decreased 20% in 2010 versus 2009.  This is about half the decrease experienced in the of Northern Virginia which is to be expected as high dollar Virginia real estate moves slower than typical middle class homes.

Sale Price as a Percent of List Price

sale_as_percent_of_list_price_great_falls_407Real estate has been selling 5% higher as a percentage of list price; this means buyers and sellers are agreeing on the market values significantly more than a year ago.

 

 

 

 

 

 

 

great_falls_home_400Beautiful….

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