Friday, July 24, 2020

Weekly Update 7/18/2020 – 7/24/2020




INTRODUCTION
                                                                                                        


As of today, there are 14active listings in MLS for South Riding 6 homes coming soon and 35 homes which went active under contract and / or pending in the past 30 days. This gives us a current absorption rate of .3 the same as last week's .3.  The number of distressed sales out of the total actives and the breakdown is as follows:

Disclosed Potential Short Sale Condos: 0
Disclosed Potential Short Sale Town Homes:  0
Disclosed Potential Short Sale Detached Homes: 0
Total Potential Short Sale: 0
Percent of Short Sales: 0 %

Bank Owned Condos: 0

Bank Owned Town Homes: 0
Bank Owned Detached Homes:  0
Total Bank Owned: 0
Percent of Bank Owned: 0%

Foreclosed Condos:  0
Foreclosed Town Homes:  0
Foreclosed Detached Homes: 0

Total Foreclosed: 0
Percent of Foreclosed: 0%

Total Distressed Sales: 0
Percent of Total Distressed Sales: 0%


Contact me if you would like additional information on any of these South Riding Homes for Sale






NEW LISTINGS


According to MLS there are 5 homes new to mls for the week of 7/18/2020 – 7/24/2020, 2 less than last week:

Condos:
42771 Longworth Ter, LP: $389,900 DOMM/DOMP 3/3



   
Town Homes:
25897 Kirkwood Sq, LP: $528,000 DOMM/DOMP 2/2
42774 Locklear Ter, LP: $530,000 DOMM/DOMP 2/2



Detached & Semi Detached Homes:
43484 Quentin St, LP: $615,000 DOMM/DOMP 4/4
43157 Quilting Ln, LP: $815,000 DOMM/DOMP 4/4


 




Contact me if you would like additional information on any of these South Riding Homes for Sale


Click HERE to search for your New Home for FREE







UNDER CONTRACT



According to MLS, there were 7 homes which went to active under contract and /or pending during this period, 4 more than the previous week: 


Condos:
25129 McBryde Ter, Status: PND      LP: $380,000    DOMM/ DOMP 31/31
42784 Nations St, Status: A/C       LP: $395,000    DOMM/ DOMP 6/6




Town Homes:
26112 Lands End Dr Status: PND      LP: $464,900    DOMM/ DOMP 4/4




Detached & Semi Detached Homes:
25630 Creek Run Ter, Status: PND     LP: $560,000    DOMM/ DOMP 2/2
25969 Flintonbridge Dr, Status: PND     LP: $590,000    DOMM/ DOMP 4/4
42662 Nations St, Status: PND     LP: $748,800    DOMM/ DOMP 5/5  
26124 Talamore Dr, Status: PND     LP: $799,000    DOMM/ DOMP 14/14  



  
This is the same amount of distressed sales going to under contract status this past than in the previous week. The average days on the market for the 7 homes is 9 days or about .3 months. This is the same as the current absorption rate for South Riding .3 mentioned in the introduction.







SOLD



According to MLS there were 4 homes closed for the week of 07/18/2020-07/24/2020.  Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter.

Condos:
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

42911 Pamplin Ter, $395,000, $398,000 - $0 = $398,000 100.8%, 13/13



 Town Homes:
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP


25378 Whippoorwill Ter, $569,000, $569,000 - $0 = $569,000 100 %, 16/16




Detached & Semi Detached Homes:
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

26128 Flintonbridge Dr, $590,000, $629,900 - $0 = $629,900 106.8%, 2/2
25746 Donegal Dr, $839,900, $841,000 - $0 = $841,000 100.1%, 2/2



Average Net %:  101.9%
Average DOMM / DOMP: 8/8




SUMMARY


The current inventory level for South Riding,  (to see the most recent MARKET SNAPSHOT you can click here) remained at 14 active listings. With 5 new listings and 7 homes which went active under contract and /or pending last week last week. 4 homes closed with average days on the market of 8 and average net to list sales price of 101.9%. Looking back over the past 5 weeks which had sold homes the average net to list price has been 101.9%, 100.2%, 101.9%, 101.6%, & 100.1% for an average of 101.1%.








Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me


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