Relevant Real Estate Information for the Penderbrook Community of Townhomes and Condos in Fairfax, VA
INTRODUCTION
I just noticed that of the 29 homes on the market in Penderbrook 8 of these have been on the market less than 90 days ! The only thing that is moving is bank owned properties and properties where the owner has finally decided to come down in price. So its obvious that you are going to have to come down in price, so why would you want to sit on the market for 120+ days until you bring the price down ? It just doesnt make sense. Yes I know you want to get the most money for your property but letting it sit on the market for 90+ days is not doing so. You miss out on all the prospective buyers in the first couple weeks you are on the market. Those are the most precious days of all the time you are on the market. After your property has been on the market for 60+ days buyers start asking what is wrong with the property, why has it been on the market this long. Believe me I work with buyers every day. All this to say... price your home right from the start and you wont be on the market as long.
My top pick of the week is a TH on Green Look Ct. Click on the link below to look at the property
As of today (January 22, 2009 10 AM) there are 29 active homes in Penderbrook and 5 homes that are currently under contract and 0 homes that have sold in the last 30 days.
Here’s the breakdown of all active listings in MLS:
Townhomes- 8 active
5 regular sales , 3 bank owned
Condos - 21 active
Heights at Penderbrook (Condo/Townhome) - 9 condos ( 4 regular, 3 bank owned, 2 short sales)
Penderbrook Square (Condos)- 12 condos (5 regular, 4 short sale, 3 bank owned)
NEW LISTINGS
According to MLS, there was 0 new listing this week.
UNDER CONTRACT
According to MLS, there are 0 Condos and 6 townhomes under contract.
Condos
None
Townhomes
3942 Kathryn Jean Ct (54 DOMP)
3910 Valley Ridge Dr (142 DOMP)
12113 Wedgeway Ct (62 DOMP)
3784 Inverness Rd (39 DOMP)
12159 Wedgeway Plv (39 DOMP)
I will have the final numbers for these once they close
SOLD
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
More Than 30 Days ago
-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
-12128 Wedgeway Ct (Townhome - 2bed/4ba - 34 DOMP)
Asking Price - $309,900 / Sales Price - $310,100 / Seller Subidy - $ 0
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 Condos Sold for 2007 vs. 2008
Fairfax Townhomes Sold for 2007 vs 2008
EXPIRED or WITHDRAWN
There has been 5 listings that have been taken off the market in the last 30 days.
RENTALS
There is currently 2 townhomes for rent and 6 condos
2 townhomes and 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 full licensed Property Management Group.
OBSERVATIONS
It looks like the only movement this week was a condo that was a short sale had a contract and it fell through and it is back on the market.
If you have 4% to put down on a place and are thinking about buyin in the next 3 months. Contact us We would be honored to work with you to get you you dream house at the best price possible.
Keep checking back each Thursday for more insight to what is going on at Penderbrook.
Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.
