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Home Sales in Vienna Soar This Week

Home Sales in Vienna Soar This Week

"Think left and think right and think low and think high. Oh, the thinks you can think up if only you try!"

This quote from Dr. Seuss is an apt description of today's real estate market in Vienna, Oakton and throughout Northern VA. Whether you're buying or selling, creativity must be involved in order to be successful in your real estate endeavors - whether that's creativity in negotiation, obtaining financing, preparing your home through staging or any of a number of other areas. You've gotta "think left and think right". But you can't stop there. Today's market also says "think low" (as in low inventory!) and "think high" (as in prices are starting to rise!).

When you review the statistics below, you will see that both Vienna & Oakton are currently in a "Balanced Market". This means that housing inventory sits between 3-6 months, and normally means that Buyers & Sellers are on equal footing. While that may be the case in Oakton . . .

Vienna Real Estate Stats 2003-2012

Vienna Real Estate Stats 2003-2012
  • Are real estate sales up or down in Vienna?

  • How long are properties in Vienna taking to sell?

  • What was the average sales price for homes in Vienna last year?

  • How close to list price will the final sales price be?

 

The Belt Team monitors the market closely on a daily basis and we publish statistics weekly. But sometimes it helps to take a step back and get some perspective by comparing things year over year. On our Northern VA real estate blog, you’ll find statistics for the Vienna real estate market and the answers to these questions. Full ten year charts are included, but here are a few highlights for 2012:

7 of 9 Homes Sold In Vienna Sold In Less Than 3 Weeks!

7 of 9 Homes Sold In Vienna Sold In Less Than 3 Weeks!

“How is the real estate market in Northern Virginia?” This is a question that the entire Belt Team gets wherever we go. “Is it getting any better yet?” is usually the follow up.

As Gail Belt, Founding Partner of The Belt Team says, “The answer depends on whether you are buying a home or selling a home – AND on whether you are moving up or moving down.”

Let’s use Vienna and Oakton as an example. We have been in a Seller’s Market in both areas for much of the past two years. Realtor Partner Kevin Kleifges says, “ If you’re selling a home – that’s a great thing. But if you’re buying a home, it can make things quite challenging. Even over the holidays, when you would think the market might be quiet, homes were selling quickly in these areas.”

During the period between Christmas Eve and New Year’s Day, here is what happened:

PCE - 3 Tips To Find The Right Realtor

PCE - 3 Tips To Find The Right Realtor

You’re thinking of selling. So how do you know which Realtor to work with? Your boss gave you the name of a Realtor. You met a Realtor you liked at an open house. Your sister-in law just got her license and says she’d love to help you. And what about the one who sold you your house 8 years ago (what’s his name again?).

Selling a home can be a very emotional decision. After all, this is your LIFE we’re talking about. The place where you created LOTS of memories. AND it’s your FUTURE we’re talking about. What happens with the sale of your home affects what options you have moving forward.

And it’s likely one of, if not THE BIGGEST FINANCIAL DECISION OF YOUR LIFETIME. So you want to get it right. How do you do that?

9 Tips To Keep Your Home Safe

9 Tips To Keep Your Home Safe

The Holiday Season is a wonderful time of year. It can be a great time to buy or sell a home. It’s definitely a great time for for gratitude, reflection & celebration.(Here at The Belt Team, we are grateful that we have been able to help more than 100 families so far this year.) And oftentimes it’s a great time to travel.

As we enter the Holiday Season, we’d like to remind you to keep your home safe while you are away- especially in light of all the “new” ways we are in communication with one another.

Here are some tips:

Real Estate Inventory S-LOW!

Real Estate Inventory S-LOW!

Any astronomer can predict with absolute accuracy just where every star in the universe will be at 11.30 tonight. He can make no such prediction about his teenage daughter.

Isn’t that a great quote from James T. Adams? We think the real estate market is the same way. We might think we can predict what will happen (like things slowing down over the holidays), but market conditions can change in the blink of an eye. This is why we track detailed statistics weekly for our Buyers & Sellers.

Right now, inventory in Oakton is at its lowest level since December 2010. And Vienna is not far behind.

Vienna Real Estate: Year-In-Review

Vienna Real Estate: Year-In-Review

As we head into the holidays, people often start thinking about the coming year. But before we look ahead, it’s always important to look back on where we’ve been. So here’s an overview of home sales in Vienna and Oakton at this point in the year (through November) as compared year-over-year from 2000 through 2012. (Full real estate statistics can be found on our web site.)