INTRODUCTION
We had another bank owned 2bd/2ba condo come on the market this week. Don't expect to see this one last long at all. We also had 1 condo go under contract this week ! It was a bank owned 2bd/2ba condo for 240k
As of today (January 16, 2009 2 PM), there are 15 active listings (-1) in the MLS and 5 Condos (+1) are currently under contract and 2 Condos have sold in the last 30 days.
Here’s the breakdown of all active listings in MLS:
8 - 1 bedroom units ( 4 short sales, 2 bank owned, 2 regular sales)
6 -2 bedroom units (4 short sales, 1 regular sales, 1 bank owned)
1 - 3 bedroom unit
NEW LISTINGS
According to MLS, there was 1 new listing this week.
UNDER CONTRACT
According to MLS, there are 4 condos under contract , 2 bank owned and 1 short sale.
11326 Aristotle Dr #4-401 - 11 (DOMP) 2bd/2ba
11305 Aristotle Dr #2-204 - 79 (DOMP) 1bd/1ba
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
I will have the final numbers for these once they close
SOLD
According to MLS, 2 condos sold in the last 30 days .
11347 Aristotle Dr #6-106 - 190 (DOMP) 2bd/2ba (Bank Owned)
Asking Price - $239,000
Sales Price - $227,000
Seller Subsidy - $0
11339 Aristotle Dr #6-215 - 66 (DOMP) 2bd/2ba (Bank Owned)
Asking Price - $279,900
Sales Price - $250,000
Seller Subsidy - $0
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 | $11,625,825 | $14,391,987 | -19.2% |
| Avg. Sold Price | $400,891 | $423,294 | -5.2% |
| Median Sold Price | $319,900 | $4410,000 | -21.9% |
| Total Units Sold | 29 | 34 | -14.7% |
| Avg. Days on Market | 112 | 89 | 25.8% |
| Avg. List Price for Solds: | $461,292 | $454,655 | 1.4% |
| Avg. Sale Price as a percentage of Avg. List Price: | 86.91% | 93.10% |
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 10 condos for rent
1bedroom units - 3 available
2bedroom units - 6 available
3bedroom units - 1 available
6 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
It is really tough to compete with these bank owned condos if you are seller at Fairfax Ridge. It is evident in that the only thing that is going to closing right now are short sales and bank owned properties.
Buyers should be taking full advantage of this.
Rentals are still strong here and are renting out pretty quickly.
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.
