South Riding Weekly Update October 17, 2020 - October 23, 2020

South Riding Weekly Update October 17, 2020 - October 23, 2020


 

INTRODUCTION

                                                                                                        

 

 

As of today, there are 9 active listings in MLS for South Riding 6 homes coming soon and 37 homes which went active under contract and / or pending in the past 30 days. This gives us a current absorption rate of .2 lower than last week's .4.  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

 

Click HERE your FREE Property Market Report

 

 

 

 

 

NEW LISTINGS

 

 

According to MLS there are 4 homes new to mls for the week of 10/17/2020 – 10/23/2020, 4 less than last week.

 

Condos:

42797 Flannigan Ter, LP: $395,000 DOMM/DOMP 2/2

 

  

Town Homes:

25529 Hussar Ter, LP: $499,990 DOMM/DOMP 2/2

 


Detached & Semi Detached Homes:

26052 Rachel Hill Dr, LP: $639,999 DOMM/DOMP 2/2

25465 Farmneck Ct, LP: $679,900 DOMM/DOMP 2/2

 

 

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 8 homes which went to active under contract and /or pending during this period, 2 less than the previous week: 

 

Condos:

25252 Riffleford Sq #301, Status: PND     LP: $309,900    DOMM/ DOMP 8/8

43114 Watercrest Sq #303, Status: PND     LP: $318,500    DOMM/ DOMP 6/6

25136 Drillfield Ter, Status: A/C      LP: $385,000    DOMM/ DOMP 6/6

 

 

Town Homes:

43180 Katama Sq, Status: A/C      LP: $450,000    DOMM/ DOMP 12/12

26100 Lands End Dr, Status: PND     LP: $491,000    DOMM/ DOMP 2/2

25527 Hussar Ter, Status: PND     LP: $509,900    DOMM/ DOMP 5/5

 

 

 

Detached & Semi Detached Homes:

42759 Freedom St,  Status: PND      LP: $607,000    DOMM/ DOMP 19/19

43392 Edgewater St, Status: A/C      LP: $618,000    DOMM/ DOMP 51/51

 

  
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 10 homes is 10 days or about .3 months. This is lower than the current absorption rate for South Riding .4 mentioned in the introduction.

 

 

 

 

SOLD

 

 

According to MLS there were 4 homes closed for the week of 10/17/2020 – 10/23/2020.  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

25386 Shipley Ter, $395,000, $393,000 - $6,000 = $387,000 98%, 4/4

 

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

25059 Riding Center Dr, $425,000, $431,000 - $0 = $431,000 101.4%, 7/7

 

 


Detached & Semi Detached Homes:

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

25205 Dunvegan Sq, $539,990, $540,000 - $1,000 = $539,000 99.8%, 3/3

25127 Fortitude Ter, $624,900, $646,000 - $0 = $646,000 103.4%, 4/4

 

 

 

Average Net %:  100.7%

Average DOMM / DOMP: 5/5

 

 

 

 

SUMMARY

 

 

The current inventory level for South Riding decreased to 9 active listings. With 4 new listings and 8 homes which went active under contract and /or pending last week last week. 4 homes closed with average days on the market of 5 and average net to list sales price of 100.7%. Looking back over the past 5 weeks which had sold homes the average net to list price has been 100.7%, 101%,102.4%, 101.1% & 100.4% 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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Phone: 703-623-7626
Dated: October 23rd 2020
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About Mark: Mark Murad has been a REALTOR® since 2005 striving to provide his clients with superior customer se...

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Mark Murad
14526 Lee Road, Suite 100
Chantilly, VA
703-623-7626