Jeff Wu

3 properties were SOLD in the Rotonda in Tysons Corner in the month of July 2009. The properties Sold were =

1) A J model, 3 bedroom 2 bathroom, home in building 8380. This property was asking $399,900 at time of contract, and sold for $390,000 with no subsidy. The home was on the market for 214 days, and originally listed at $444,900.

2) A 2 bedroom 1.5 bathroom, D model, in building 8370. This home sold for $334,000 when it was asking $339,000. The property sold in 13 days. There was no subsidy, or seller closing cost contribution on this transaction.

3) A model G, 2 bedroom 2 bathroom, style home in building 8350. This property sold for $321,000 and $5,000 subsidy. This is a net price of $316,000. The contract was accepted when the property was at an asking price of $325,000. This home was on the market for 21 days.

The general statistics for the month of July, in 2009, at the Rotonda, in Tysons Corner, are an average of [A] 83 days on the market [B] $1667 in seller closing cost contribution to the buyer, and [C] $254.34 price per square foot.

Same month last year, July 2008, featured general statistics of [D] 2 sold properties, [E] 160 days on market average, and [F] $321.26 price per square foot average.

In July in the Rotonda in Tysons Corner there were also 10 properties rented. They ranged in price from a one bedroom one bathroom property that rented for $1,450 all the way upto a 3 bedroom 2 bathroom property that rented for $2,450.

Right now there are currently 25 properties on the market in the Rotonda. 13 of those are for rent. The other 12 are for sale. Here is a graphic =

Data from MRIS

There were 2 homes old in June of 2009. They were different models. The first was a one bedroom one bathroom, 961 square foot, home on the third floor. It sold for $356,000 with no seller subsdiy. That comes to the net price of $356,000 (unchanged) and a figure of $370/square foot.

The 2nd property sold in June was a two bedroom two bathroom, 1252 square foot, home on the tenth floor. This home sold for $475,000 and $8919 in seller subsidy to the buyer. So a net price of $466,081, and a figure of $372/square foot.

This sales activity for June of 2009 is equal to that of June 2008, where there were also 2 properties sold.

There is currently 1 property for sale. It is a 2 bedroom 2 bathroom, fourth floor home with 1376 square feet. It is on the market at a price of $589,900. This property has been for sale for 118 days, and originally was asking $698,000.

Data from MRIS

In Oakton Virginia (22124 Zip code) there were 7 homes Sold in June of 2009. 2 of these were townhomes, and the rest (5) were Single Family Homes. They sold in an average of 41 days on the market. There was also an average sold price of 96% of the asking/listed price. 2 of these transactions had subsidies from the seller to the buyer. If you average those 2 subsidies among the 7 properties sold, then it is an average subsidy of just over $1000 (from seller to buyer - typically for closing costs).



None of these sales were short sales, bank owned properties or foreclosures, or auction sales.





Here is more information on each of these home sales.

Compared to same month last year (June 2008), June 2009 had much less sales volume. Last year there were 21 sold properties in June. This year, as we mentioned above, 7. However, last year the days on market averaged 120 days for those that sold. So 41 days is definately an improvement.

Besides the sales, there are also 90 properties for sale on the market in Oakton right now. 60 of those are single family homes ranging in price from $449,999 to $6,700,000. There are another 15 properties on the market that are townhomes. They range in price from $399,900 to $639,000. Then there are another 15 properties on the market that are condominiums. These range in price from $165,000, all the way upto $369,000. Of the 90 homes available on the market right now, 9 are potential short sales, and 3 are bank owned or foreclosure properties.

Data from MRIS.

Well the title tells the first part of this real estate tale. In June 2 homes were sold. On June 5th a 1 bedroom 1 bathroom, Lauren model, was sold for $245,000. It had been on the market 46 days, and had been asking $255,000. It sold for 96% of asking price, and $325/square foot.



The other property sold was not a similar model. It was a 2 level, 2 bedroom and 2 bathroom Stephanie model. This home sold in a time of 23 days on the market for $365,000. It had been listed at an asking price of $416,000. It sold for 87% of asking price, and $341/square foot. This property was officially sold and settled on June 25th.



Year over year sales comparison shows that this is a 100% improvement over same month sales, June 2008, when there was only one sale. In this period last year that property sold at a price per square foot of $359. Whereas the 2 properties sold in June of 2009 averaged a price per square foot of $334. This is a 7% decline from 2008 to 2009. Some would certainly argue that sampling size is hardly enough to generalize for an entire community.



There is now one property under contract in this centrally located Tysons Corner Condominium community. It is a 2 bedroom and 2 bathroom, on one level, Michael model. At time of contract the asking price was $349,900.



There are now 5 available properties for sale in Lillian Court. They are priced as low as a $229,000 potential short sale, 1 bedroom 1 bathroom, to as high as a $449,900, 2 bedroom 2.5 bathroom townhome style home. You can see more information below.

Data from MRIS

In May of 2009 2 homes SOLD. There was a two bedroom that sold and also a one bedroom that sold.







The two bedroom was a Dalton Model. At time of contract it had been asking $319,000. They Sold for $279,000 with no seller subsidy. This is 87% of asking price. This property was credit union owned, or what could and is also referred to as a foreclosure or bank owned property. The property was on the market for 76 days. When it listed they were asking $339,000.







The one bedroom that sold was a "normal" or "traditional" sale. The asking price was $220,000 and it sold for $220,000 with $3,000 in seller subsidy. It was a top floor Danielle model that was very well taken care of.







Here is the virtual tour so you can take a look --> http://www.homevisit.com/mlsTour?ver=1&id=37394

Last year in the same month, May 2008, there were also 2 properties SOLD. They were both two bedrooms. They sold for $365,000 (Logan Model) and $320,000 (Dalton Model).

Right now there are 4 properties on the market. Three of them seem to be traditional sales. The fourth is a short sale. See below:

In the Gates of McLean in May of 2009 5 properties were rented. Three were one bedrooms, and the other two were two bedrooms. The average one bedroom rental was $1,180/month. The average two bedroom rental was $1,675/month. Here is a visual:

Last year in May, May 2008, there were only 3 properties rented. The two bedroom (1) price was $1,695/month. While the one bedroom (2) average was $1,300/month.

Right now there are 16 properties available for rent at the Gates of McLean. There are 7 one bedrooms available, 6 two bedrooms, and 3 three bedrooms. They range in asking price from $1,225/month to $2,400/month.