South Riding Weekly Update October 10, 2020 - October 16, 2020

South Riding Weekly Update October 10, 2020 - October 16, 2020


 

INTRODUCTION

                                                                                                        

 

 

As of today, there are 12 active listings in MLS for South Riding 4 homes coming soon and 34 homes which went active under contract and / or pending in the past 30 days. This gives us a current absorption rate of .4 the same as 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 8 homes new to mls for the week of 10/10/2020 – 10/16/2020, 1 less than last week.

 

Condos:

25252 Riffleford Sq #301, LP: $309,900 DOMM/DOMP 2/2

43114 Watercrest Sq #303, LP: $318,500 DOMM/DOMP 2/2

42812 Center St, LP: $385,000 DOMM/DOMP 5/5

25136 Drillfield Ter, LP: $385,000 DOMM/DOMP 3/3

43084 Center St #4C, LP: $400,000 DOMM/DOMP 2/2

 

    

Town Homes:

25527 Hussar Ter, LP: $509,900 DOMM/DOMP 1/1

 

 

 Detached & Semi Detached Homes:

43449 Quentin St, LP: $624,900 DOMM/DOMP 2/2

43308 Dressmaker Ln, LP: $730,000 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 10 homes which went to active under contract and /or pending during this period, 6 more than the previous week: 

 

Condos:

42806 Smallwood Ter, Status: PND     LP: $368,000    DOMM/ DOMP 2/2

42828 Pamplin Ter, Status: PND     LP: $395,000    DOMM/ DOMP 5/5

42794 San Sebastian Ter, Status: PND     LP: $399,999   DOMM/ DOMP 5/5

 

  

Town Homes:

42805 Pilgrim Sq, Status: PND     LP: $405,000    DOMM/ DOMP 6/6

26081 Lands End Dr, Status: PND     LP: $414,990    DOMM/ DOMP 4/4

25445 Brickell Dr, Status: PND     LP: $465,000    DOMM/ DOMP 3/3

25192 Whippoorwill Ter, Status: A/C      LP: $560,000    DOMM/ DOMP 14/72

 

 

Detached & Semi Detached Homes:

43078 Corcoran Ln, Status: A/C      LP: $595,000    DOMM/ DOMP 2/2

25135 Fortitude Ter, Status: A/C      LP: $615,000    DOMM/ DOMP 2/2

25928 Rachel Hill Dr,   Status: A/C       LP: $649,900    DOMM/ DOMP 3/3

 

  

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 5 homes closed for the week of 10/9/2020 – 10/16/2020.  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

42868 Alumni Ter, $384,900, $396,500 - $0 = $396,500 103%, 9/9

25148 Shultz Ter, $389,900, $400,000 - $0 = $400,000 102.6%, 3/3

 

 

 

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

43212 Center St, $424,900, $430,000 - $1,000 = $429,000 101%, 3/3

25249 Nesting Sq, $574,999, $584,325 - $0 = $584,325 101.6%, 4/4

 

 


Detached & Semi Detached Homes:

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

43400 Edgewater St, $593,999, $570,000 - $0 = $570,000 96%, 25/25

 

 

Average Net %:  101%

Average DOMM / DOMP: 9/9

 

 

 

 

SUMMARY

 

 

The current inventory level for South Riding decreased to 12 active listings. With 8 new listings and 10 homes which went active under contract and /or pending last week last week. 5 homes closed with average days on the market of 5 and average net to list sales price of 101%. Looking back over the past 5 weeks which had sold homes the average net to list price has been 101%,102.4%, 101.1%, 100.4%, & 100% for an average of 101%.


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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Author:
Phone: 703-623-7626
Dated: October 16th 2020
Views: 4
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