Buy Alexandria Real Estate: How Many Homes Sold in 2011? How Many Will Sell in 2012?

Alexandria Virginia Real Estate Blog

How Many Homes Sold in 2011? How Many Will Sell in 2012?

Happy New Year 2012HAPPY NEW YEAR!

Before looking ahead, it's important to take a look back at real estate sales for 2011.  At the start of 2011, inventory of homes on the market was way down from 2010, the federal homebuyer tax credit was over, and the economy was still in flux. The home sales news for 2011 in Northern Virginia was a mixed bag.  Prices were up in most areas and the market has generally stabilized.  However the overall number of homes sold was down in almost all jurisdictions.

Whether you are planning to sell your home in 2012 are are interested in purchasing a home this year (I know it's on some of your New Year's resolutions lists), it's necessary to understand some numbers -- the number of sales and the amount of inventory available.

 

How many homes sold in Northern Virginia in 2011?

                                                                                                                                                                                                                          % Change from 2010
ALEXANDRIA CITY                 1,970 Homes Sold in 2011                    +3.6%
ARLINGTON COUNTY              2,355 Homes Sold in 2011                     -9.1%
FAIRFAX COUNTY                 12,541 Homes Sold in 2011                    -8.7%
FALLS CHURCH CITY                   193 Homes Sold in 2011                  +36.0%
LOUDOUN COUNTY                   4,773 Homes Sold in 2011                    -2.5%
PRINCE WILLIAM COUNTY    5,752 Homes Sold in 2011                   -12.2%

In almost all markets with the exception of Alexandria and Falls Church, volume of sales were down.  Prince William County sales numbers dropped by the largest amount.  Overall there were 2,234 less home sales in Northern Virginia in 2011 as compared to 2010 or a total decrease in volume of 7.5%

How many Northern Virginia homes will sell in 2012?  Pull out your crystal balls.  There's a ton of variables this year and the experts and prognosticators vary widely on their predictions of a real estate recovery, the economy, how much foreclosures and short sales will continue to impact our market, the job market, and the new Congress.

INVENTORY ALERT!!

As of the start of 2012, here are the inventories of resale homes listed for sale on the Multiple Listing Service:

                                                                                        % Change from 1/1/11
ALEXANDRIA CITY                    347 Homes Available                                 -32.9%
ARLINGTON COUNTY                 455 Homes Available                                  -5.0%
FAIRFAX COUNTY                   2,142 Homes Available                               -14.4%
FALLS CHURCH CITY                     22 Homes Available                                -15.4%
LOUDOUN COUNTY                  1,202 Homes Available                                 -4.2%
PRINCE WILLIAM COUNTY    1,094 Homes Available                               -19.1%

Overall, inventory numbers are way down from already low inventories at the beginning of 2011.  This could be very good news if you are planning to sell your home this year.  If 2012 home sales continue even at the sluggish 2011 pace, most jurisdictions currently have less than 2-3 months of inventory supply! Incredibly good news if you plan to sell your home and price it right!

IMPORTANT MESSAGE TO NORTHERN VIRGINIA BUYERS AND SELLERS:

You can't control the market.  You can't control the prices or the number of sales. 

The market is constantly changing. 

2012 IS THE TIME to get expert advice, a skilled negotiator, and a savvy real estate broker who knows how to navigate this market to help you with your real estate goals.

 

Thank you for reading my blog post.  If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

Follow Brian Block on TwitterBecome a Fan of Block Real Estate Group on FacebookConnect with Brian on LinkedInWatch Brian's Videos on YouTubeSubscribe to Brian's Blog

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Comment balloon 2 commentsBrian Block • January 03 2012 07:07PM

Comments

Falls Church sales rose dramatically and yet the inventory there only decreased at an average rate.  To what could you account for that?

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) about 6 years ago

HI Brian - I've received my I.R.E.S. Designation in Vancouver, BC, Canada today and I noticed that you have a IRES designation as well.  I'm presently building a larger network so that your listings can be featured in my city (for an international exposure), and mine can be featured by you.  Presently I have approximately 20 listings which might be of interest to you.  

Look forward to chatting some more with you with respect to co-listing each other's properties, if you are interested in speaking further?  Cheers, Jark.

TeamYVR

JARK KRYSINSKI, REALTOR®, BA.Hon, ABR, IRES, 100%/Medallion Club, IMSD®, LLB
TeamYVR Real Estate Agent, Team Lead, Top Producer, Workaholic 
RE/MAX Crest Realty Westside, 1428 W. 7th Ave, Vancouver, B.C., V6H 1C1
Direct: 604.790.9945 | TOLL FREE: 1.855.TEAM.YVR (855.832.6987)
Office: 604.602.1111 ext. 116 | Fax: 604.602.9191 ("ATTN Jark, TeamYVR") 
1. www.TEAMYVR.com "JARK KRYSINSKI @ OUR TEAM, 'TEAMYVR' ONLINE!" 
2. 
BCCondos.net/City-East-Vancouver "All Condos in East Van by TeamYVR!"
3. BCCondos.net/City-Ladner "All Condos in Ladner by TeamYVR"
4. BCCondos.net/City-Tsawassen "All Condos in Tsawassen by TeamYVR!"
5. www.MEETUP.COM/BridgeMakers "Meet Jark in Vancouver, Group Leader" 
6. www.MEETUP.com/
BridgeMakersDowntown "Meet Jark in Downtown, Group Founder"
7. 
www.MEETUP.com/BridgeMakersRichmond "Meet Jark in Richmond, Group Founder"
8. www.MEETUP.com/BusinessBuilders "Jark Teaching Investing, Group Speaker" 
9. www.BRIDGEMAKERSGROUP.com "Vancouver Business Group" 
10. www.BIGRICHGROUP.com "Meet Jark in his Richmond Group, Group Co-Host" 
11. www.MEETUP.com/3Metro "Jark's Business Group in Burnaby"
12. www.MEETUP.com/MiddlePeople "Jark Teaching Sophisticated Investments"
13. www.TWITTER.com/SOLDbyJARK "Find us on Twitter"
14. www.FACEBOOK.com/JarkTheSaint "Find us on Facebook"
15. http://d553bf1.ACTIVERAIN.com/ "Top 3 Realtor in Vancouver, BC, Canada!"
16. ca.LINKEDIN.com/pub/JARK-KRYSINSKI/20/b6a/462 "Find me On LinkedIn"
"I Work Hard & Stop Being Tired & Feel Awesome Instead!"
Posted by Jark Krysinski *PREC (Personal Real Estate Corporation), TeamYVR Team Leader, BA,ABR,IRES,IMSD,LLB (REMAX CREST REALTY WESTSIDE) over 5 years ago

Participate