Fran: Can you please post all the condos, townhouses and single family homes that have sold in Penderbrook, Fairfax in the last few months? That main entrance sign is hard to read by the way ....can you put the one from the lower entrance in over on the right?
Steve: Fran, we have posted single family homes here: HomesByBachman.com
(By the way you can make the report bigger by going to the dead center of the tool bar above the report where it says 62% and hit the black down arrow to give you more choices for magnification)
We had to go back to July 1 to get the three that you see here. Most of the sales in Penderbrook have been in the town house and condo segments of the market.
To view townhouses that have sold so far this quarter click here: HomesByBachmanTowns.
To see apartment style garden condos, click here:HomesByBachmancondos.
If you click those links you will be taken to a report that is known as a CMA or Comparative Market Analysis. These reports show in detail the 3 single family homes, the 5 town houses, and the 15 condos that have sold in Penderbrook in the time frames mentioned above.
The first column of interest in the report is the List price at the time the property went under contract.The next one over is the price that the buyer actually paid for the home. The column headed DOMP shows the number of days the property was on the market The acronym stands for Days On Market Property. This figure is very encouraging for Penderbrook home sellers.
As you will see the single family homes received contracts within an average of 168 days, ( you can see that the one house on Parkland skewed the results seriously) the town house average was 52 with the condos averaging 47 days.
These are great numbers for the community. The rest of the columns are pretty easy to understand. The far right column, headed subsidy, is the amount of money the buyer received back from the seller for closing cost assistance.
Cindy: These numbers do look good for prospective Penderbrook home sellers compared to months past don't they?
Steve: Yes Cindy they do. The inventory of available homes has fallen steadily since spring, not just in Penderbrook but across Northern Virginia. Even the hard hit areas of Woodbridge and Manassas have experienced low inventory and the apparent end of a steep price slide.
If you combine short supply with interest rates hovering around the high 4% to the low 5% range and the $8,000 tax credit for first time home buyers, you have a recipe for the strong seller's market that we have been in since late spring.
The tax credits for buyers carry over until next spring and the hope is that the government will continue to support policies that keep interest rates low.
Barring any new economic surprises, appropriately priced Penderbrook homes in good condition should continue to sell well for the foreseeable future. To see the November sales report for Fairfax County
click here:for NVAR Reports
Why pay more and get less when selling your home? Jan and Steve Bachman of RE/MAX Gateway still create full color brochures, an individual property website for your listing that goes out to 40+ public real estate search sites including Realtor.com, Trulia, Zillow etc.
We also create a custom photo tour that is sent to other agents and prospective buyers.
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Jan and Steve Bachman are full time Realtors® with RE/MAX, specializing in Homes for Sale in Fairfax, Loudoun, Prince William and Arlington Counties.
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