Jeff Wu

August has come and gone. But what of the listings for sale? or for rent? See the statistics below:

4 homes SOLD in August in the Fountains at McLean

- Three 1 Bedrooms
--> High SOLD Price = $250,000
--> Low SOLD Price = $215,000
--> Average SOLD Price = $230,000
--> Average Subsidy = $5,483
--> Models SOLD = Cedar, Spruce, + Birch


- One 2 Bedroom
--> SOLD Price = $316,100
--> Subsidy = $8,500
--> Model SOLD = Oak

RENTALS:

4 homes RENTED in the month of August

- One 1 Bedroom
--> RENTED Price = $1350/month

- Three 2 Bedrooms
--> High RENTED Price = $1800/month
--> Low RENTED Price = $1600/month
--> Average RENTED Price = $1667/month

CLICK HERE --> for more Fountains Stats and Downloadable information

Information gathered from the MRIS. Information is deemed reliable, but not accurate.

See the August statistics below:

1 home SOLD in August at The Gates of McLean

- ZERO 1 Bedrooms

- One 2 Bedroom
--> SOLD Price = $25,000
--> Subsidy = $0
--> Model SOLD = Dalton

- ZERO 3 Bedrooms

RENTALS: 7 homes RENTED in the month of August

- Two 1 Bedrooms
--> High RENTED Price = $1400/month
--> Low RENTED Price = $1300/month
--> Average RENTED Price = $1350/month

- Three 2 Bedrooms
--> High RENTED Price = $1800/month
--> Low RENTED Price = $1600/month
--> Average RENTED Price = $1725/month

- One 3 Bedroom
--> RENTED Price = $2000/month

CLICK HERE --> For more Stats and Downloadable Gates of McLean information

Information gathered from the MRIS. Information is deemed reliable, but not accurate.

For a while after the market turned the rental market was somewhat HOT. Many chose not to buy, or their financial situation made it so that they weren't able to buy. Well this turned buyers into renters. And with supply and demand factors that greatly increased the demand for rental property. That was good for landlords. Many properties rented quickly, and for sizeable rents. Landlords increased rents they were asking, and often got it.

Well that same market continued, and since buyers weren't buying sellers started to have problems. If they couldn't sell what would they do? They decided to try to rent. Well some did, and many will. However, as the masses turned from selling to renting the teeter totter that is supply and demand started to change it's balance to a different direction. Now much of the inventory that wanted to sell, is renting or wanting to rent. The rental market is somewhat slower moving than the sales market as a tenant's rent is often locked in for a whole year. So it takes some time for change to occur. Well rents began to balance out, and landlords couldn't be as aggressive. Now all over we find more balanced asking rents.

Right now in the Tysons Corner area there are 58 properties for Sale
and
58 properties for Rent.

Talk about Balance. That's interesting, because in 2007 there were 207 Rented + 179 Sold in the same area.

To see what's going on in Real Estate in Tysons Corner area communities check out http://www.TysonsCorner.AgentKnowsHomes.com