INTRODUCTION
This was a little bit a movement this past week right before the new year. There are currently 5 condos under contract. 2 of these are short sales and 3 are bank owned. Regular sales are very rare right now at Fairfax Ridge. Because most owners at Fairfax Ridge owe more than what the market is selling it for.
Buyers - There are are some great deals on short sales and bank owned properties here. But you have to make sure you have a good agent who knows the area and what is going on with these banks and how to negotiate with them. Otherwise you can be hoping to get a house for a couple months instead of buying your next home.
Sellers- We are very aware that the market is causing you to hold on to your condo and possibly even losing a lot more money each month then you antcipated. If this is the case please contact us. We are working with a couple short sales right now and we have a great team in place. Contact us to see if we can help you.
As of today (January 2, 2009 11 PM), there are 17 active listings (-6) in the MLS and 5 Condos (+2) are currently under contract and 0 Condos have sold in the last 30 days.
Here’s the breakdown of all active listings in MLS:
9 - 1 bedroom units ( 4 short sales, 3 bank owned, 2 regular sales)
7 -2 bedroom units (5 short sales, 1 regular sales, 1 bank owned)
1 - 3 bedroom unit
NEW LISTINGS
According to MLS, there was 2 new listing this week.
UNDER CONTRACT
According to MLS, there are 5 condos under contract , 2 bank owned and 1 short sale.
3851 Aristotle Ct #1-418 - 102 (DOMP) 1bd/1ba
11321 Aristotle Dr #3-301 - 70 (DOMP) 2bd/2ba
11371 Aristotle Dr #9-113 - 19 (DOMP) 2bd/2ba
11347 Aristotle Dr #6-106 - 190 (DOMP) 2bd/2ba
11339 Aristotle Dr #6-215 - 66 (DOMP) 2bd/2ba
I will have the final numbers for these once they close
SOLD
According to MLS, 0 condos sold in the last 30 days .
These sold more than 30 days ago -
-11345 ARISTOTLE DR #6-311 - 15 (DOMP) (2 bd/1ba) Bank Owned
List Price - $219,900 / Sales Price - $225,000 / Seller Subsidy - 0
-11353 ARISTOTLE DR #106 - 5 Days on the Market (DOMP) (2bedroom)
(This one had multiple offers and went above asking price) Bank Owned
List Price- $234,000 / Sold Price -$250,000 / Seller Subsidy - $0
-11335 Aristotle Dr #5-215 - 117 (DOMP) 3 level, 2 bedroom, 2 bathroom
List Price - 329,900 / Sold Price - 250,000 / Seller Subsidy - 0
-11371 ARISTOTLE DR #9-213, FAIRFAX, VA 22030 - 61 (DOMP) 1 level, 2 bedroom, 2 bathroom -
List Price - 239,000 / Close Price - 239,000 / Seller Subsidy - 6,000
-11359 ARISTOTLE DR #8-214, FAIRFAX, VA 22030 - 26 (DOMP) 3 level, 2 bedroom, 2 bathroom
List Price - 244,900 / Close Price - 260,000 / Seller Subsidy - 0
-11397 ARISTOTLE DR #11-105, FAIRFAX, VA 22030 - 36 (DOMP) 2 level, 2 bedroom, 2 bathroom
List Price - 267,800 / Close Price - 240,000 / Seller Subsidy - 7,590
22033
| 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 | 30 | 45 | -33.3% |
| Avg. Days on Market | 70 | 69 | -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% |
Fairfax Ridge Condos Sold for 2007 vs. 2008
Fairfax Condos Sold for 2007 vs. 2008
EXPIRED or WITHDRAWN There have been 5 listings that have been taken off the market in the last 30 days.
RENTALS
There are currently 9 condos for rent
1bedroom unit - 1 available
2bedroom units - 8 available
4 condos 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. Ask us more about this and how this benefits you !
OBSERVATIONS
Feb / Mar are some of the best time to sell your home. No matter what the market is like. On the flip side if you are buying, yes there are still lots of great deals but you might miss out on dream home because of competing offers. This time of year brings 2-3x as many buyers to the market. So if you are thinking of buying , dont delay. Interest rates are at record lows !
We would be honored to work with you ! Shoot us an email
Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.
