Relevant Real Estate Information for the Fairfax Ridge Condo Community
INTRODUCTION
I did not have a weekly report out last week because honestly this market is getting crazy right now. I am working with 4-5 buyers and just had 2 of them compete in multiple offers on homes. We negotiated and it looks like we got both of them !
There are so many buyers out right now looking its crazy. I know the media says this is bad market well the NOVA market is different. I see it everyday and homes going off the market very quickly and multiple offers on homes. There are some great steals and first time home buyers and investors are taking advantage.
As of today (February 6, 2009 9 AM), there are 15 active listings in the MLS and 6 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:
7 - 1 bedroom units ( 3 short sales, 2 bank owned, 2 regular sales)
7 -2 bedroom units (4 short sales, 2 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 6 condos under contract , 2 bank owned and 4 short sale.
11350 Aristotle Dr #7-202 - 227 (DOMP) 1bd/1ba
11326 Aristotle Dr #4-301 - 45(DOMP) 2bd/2ba
11345 Aristotle Dr #6-410 - 26 (DOMP) 2bd/2ba
11326 Aristotle Dr #4-401 - 11 (DOMP) 2bd/2ba
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 .
11305 Aristotle Dr #2-204 - 79 (DOMP) 1bd/1ba (Bank Owned)
Asking Price - $194,500
Sales Price - $167,000
Seller Subsidy - $0
3851 Aristotle Ct #1-418 - 102 (DOMP) 1bd/1ba (Bank Owned)
Asking Price - $174,900
Sales Price - $174,900
Seller Subsidy - $5,247
These sold more than 30 days ago -
-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
-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 11 condos for rent
1bedroom units - 4 available
2bedroom units - 6 available
3bedroom units - 1 available
5 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
Ok so we saw two more bank owned condos sell at excellent prices ! One was an all cash deal so you know that was an investor taking advantage.
We now have 4 short sales under contract. There is a good chance these will be back on the market soon. You have to make sure you have a good real estate team that has negotiations with the bank. If not, you are just wasting your time. Our team is almost done successfully negotiated our short sale. It is the only 3bd unit in Fairfax Ridge that will have sold in some time. We will get it sold at 262k We have had multiple offers and our negotiators are almost done. We will definitely keep you posted.
You will also notice the two condos that sold this past week were 1bedroom units ! FINALLY !!!! haha that is excitement because in the last year 16- 2bedroom units have sold, 1 - 3bedroom unit, and now 2 - 1bedroom units. Took long enough but look at the prices... under 170k
If you are thinking about buying in the next 3 months we would be honored to work with you ! Shoot us an email or text to 703-725-2929
Keep checking back each Friday for your updated market report for Fairfax Ridge
Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.
