Penderbrook Weekly Report 12/24/2008 - 12/30/2008


We have been helping families buy here in Penderbrook for years and have decided to start this blog. Our goal is to help those families that already live in Penderbrook and those that are thinking about living here, see what is going on in the neighborhood.

No change as of last 2 weeks. This is rare in Penderbrook but this was Christmas week and people were to busy buying presents and not homes :) 2 condos did close before the new year though and we have those numbers below. We will have some more movement by next week.

I hope everyone had a great christmas with your family and friends ! I got a chance to go to New York last weekend and see the city all decked out for christmas. It snowed all day Saturday and was bitter cold and rained all day Sunday but it was worth it. Juniors cheesecake was amazing !

As of today (December 30, 2008 10 AM there are 23 active homes in Penderbrook and 5 homes that are currently under contract and 3 homes that have sold in the last 30 days.

Here’s the breakdown of all active listings in MLS:

Townhomes- 6 active

4 regular sales , 2 bank owned

Condos - 17 active

Heights at Penderbrook (Condo/Townhome) - 8 condos ( 4 regular, 2 bank owned, 2 short sales)

Penderbrook Square (Condos)- 9 condos (4 regular, 4 short sale, 1 bank owned)


According to MLS, there was 0 new listing this week.


According to MLS, there are 0 Condos and 5 townhomes under contract.


3942 Kathryn Jean Ct (54 DOMP)
3910 Valley Ridge Dr (142 DOMP)
12113 Wedgeway Ct (62 DOMP)
11806 Green Look Pl (28 DOMP)
3784 Inverness Rd (39 DOMP)

I will have the final numbers for these once they close


According to MLS, 2 homes have sold in the last 30 days .

12104 Green Ledge Ct #302 (18 DOMP) 2bd/2ba Condo - Regular Sale

Asking Price -$239,000
Sales Price -$239,000
Seller Subsidy -$7,000

12110 Green Ledge Ct #301 (26 Days on the market) 3bd/2ba Condo - Regular Sale

Asking Price - $250,000
Sales Price - $250,000
Seller Subsidy - $5,000

12108 Green Ledge Ct #301 (Condo - 3bed/2ba - 229 DOMP) - Regular Sale

Asking Price - $259,999
Sales Price - $240,000
Seller Subsidy - 0

12118 Wedgeway Pl (Townhome - 3bed/4ba - 83 DOMP) - Bank Owned

Asking Price - $317,900
Sales Price - $307,900
Seller Subsidy - $ 0

More Than 30 Days ago

12128 Wedgeway Ct (Townhome - 2bed/4ba - 34 DOMP)
Asking Price - $309,900 / Sales Price - $310,100 / Seller Subidy - $ 0


These stats are for all real estate in the 22033 zip code for the Month of November
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 3045 -33.3%
Avg. Days on Market7069 -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 Condos Sold for 2007 vs. 2008

Fairfax Townhomes Sold for 2007 vs 2008


There has been 2 listings that have been taken off the market in the last 30 days.


There is currently 0 townhomes for rent and 5 condos

2 townhomes and 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.


Condos are selling a little bit better here in Penderbrook. Alot of first time home buyers can not go abover a certain price and are getting what they need out of a home and are staying within that price range. So 2+ bedroom condos will continue to do fine here in Penderbrook. The townhomes in fairfax that go below 400k are getting a lot more interest. You to have think like a buyer or investor right now. It doesnt make sense for a investor to be paying more money then they would be bringing in and for a first time buyer (which these are flooding the markets right now) they can only afford so much which is usually under 350k or under 400k

Only 2 townhomes in Penderbrook have sold for over 400k in the 4 months!

Our team is working with a couple short sale situations right now and have the right people in place to negotiate with the bank and sell your home. Contact us to see if you can qualify for a short shale. There is almost never a financial implication for doing so.

Keep checking back each week for more insight to what is going on at Penderbrook.

Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.