FALLS CHURCH

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REAL ESTATE MARKET REPORT

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Sunday, November 3

2013
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TABLE OF CONTENTS Charts and Commentary .. Market Summary Table .. Glossary ...

Tania Ivey & Marc Cormier

Keller Williams Realty 2101 Wilson Boulevard Suite 100 Arlington, VA 22201 www.Help2ownaHome.com www.MarcCormier.me Marc@Help2ownaHome.Com Tania.ivey@gmail.com 301 660-6272 703 564-4026

https://www.facebook.com/pages/Fairfax-County-Luxu mddcvahotprops

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FALLS CHURCH
Sunday, November 3, 2013 Tania Ivey & Marc Cormier
Keller Williams Realty Marc@Help2ownaHome.Com 301 660-6272

REAL ESTATE MARKET REPORT

Let's take a look

at the real estate market. Currently there are 103 sales pending in the market overall, leaving 197 listings still for sale. The resulting pending ratio is 34.3% (103 divided by 300). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!

The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.

Taking a closer look, we notice that the $400K - $500K price range has a relatively large number of contracts pending sale. We also notice that the $0K - $100K price range has a relatively large inventory of properties for sale at 61 listings. The median list price (or asking price) for all properties in this market is $529,900.

"Current inventory is described as mildly active."

Properties For Sale Contracts Pending 70 60 50 40 30 20 10 0 $100K $200K $300K $400K $500K

Number of Listings For Sale vs. Pending Contract

Falls Church
Updated 11/3/2013, RealMarketReports.com Copyright Tania Ivey & Marc Cormier

$600K

$700K

$800K

$900K

$0K

$1.0M

$1.1M

$1.2M

$1.3M

Sold Off-Market 140 120 100 80 60 40 20 0 $100K $200K $300K $400K

Num Sold vs. Off-Market (Last 6 mos.)

Falls Church
Updated 11/3/2013, RealMarketReports.com Copyright Tania Ivey & Marc Cormier

A total of 583 contracts have closed in the last 6 months with a median sold price of $585,000. Breaking it down, we notice that the $500K - $600K price range contains the highest number of sold listings. Alternatively, a total of 209 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $0K - $100K price range has the highest number of offmarket listings at 44 properties.

$500K

$600K

$700K

$800K

$900K

$0K

$1.0M

$1.1M

$1.2M

$1.3M

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$1.4M

Market Dashboard

$1.4M

FALLS CHURCH
Sunday, November 3, 2013 Tania Ivey & Marc Cormier
Keller Williams Realty Marc@Help2ownaHome.Com 301 660-6272 Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM), or a seller's market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 37 days. Analysis of sold properties for the last six months reveals a median sold price of $585,000 and 8 days on market. Notice that properties in the $200K - $300K price range have sold quickest over the last six months. The recent history of sales can be seen in the two charts below. The median sold price for the last 30 days was $600,000 with a DOM of 16 days. Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.
Sold For Sale 90 80 70 60 50 40 30 20 10 0 $100K $200K $300K $400K $500K $600K $700K $800K $900K $0K $1.0M $1.1M $1.2M $1.3M $1.4M Nov

REAL ESTATE MARKET REPORT

Median Days on Market (DOM)

Falls Church
Updated 11/3/2013, RealMarketReports.com Copyright Tania Ivey & Marc Cormier

"The median list-to-sales ratio for this area is 99.3%."

Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-to-sale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.

Analysis of the absorption rate indicates an inventory of 2.0 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of properties if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come onto the market in the future.

Median Sold Prices

Falls Church
$640K $620K $600K $580K $560K $540K $520K $500K Jun Jul
Copyright Tania Ivey & Marc Cormier Updated 11/3/2013, RealMarketReports.com

Median Days on Market (Sold)

Falls Church
18 16 14 12 10 8 6 4 2 0 Jun Jul

Copyright Tania Ivey & Marc Cormier Updated 11/3/2013, RealMarketReports.com

Aug

Sep

Oct

Nov

Aug

Sep

Oct

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Market Dashboard

FALLS CHURCH
Sunday, November 3, 2013 Tania Ivey & Marc Cormier
Keller Williams Realty Marc@Help2ownaHome.Com 301 660-6272
MARKET SUMMARY TABLE
A = Average Value M = Median Value N/A = Not Available

REAL ESTATE MARKET REPORT

103 197
ACTIVE [1]
Current List Price $ $

PENDING [2]

209

OFF-MARKET (last 6 mos) [3]

ABSORPTION RATE
(months of inventory)

583
Num # Pend Ratio Num # Num #

SOLD/CLOSED (last 6 months) [4]

Original List Price Final List Price Sold/ Closed Price ListSale Ratio Est. Mos.

Price Range
Low High

Num #

Days on Market
A M

Days on Market

$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000

$99,999 $199,999 $299,999 $399,999 $499,999 $599,999 $699,999 $799,999 $899,999 $999,999 $1,099,999 $1,199,999 $1,299,999 $1,399,999 +

61 0 0 4 25 19 30 12 9 8 0 11 3 6 9 197

49 38

2,938 2,600

0 0 6
N/A 79% 48% 50% 33% 48% 40% 27%

44 0 1 18 21 30 25 11 8 11 7 10
25% 25% 18%

0 0 2 48 127 131 106 62 33 24 12 12 8 8 10 583 20 8 $ 652,076 $ 590,000 $ 645,380 $ 589,000 $ 640,787 99% $ 585,000 99%
Favors Buyers
A M A M A M A M A M A M A M A M A M A M A M A M A M

3 3 15 7 19 8 16 8 20 9 25 7 17 8 18 13 40 18 44 36 22 19 32 16 17 13

$ 282,450 $ 282,450 $ 367,500 $ 371,950 $ 460,319 $ 450,000 $ 549,258 $ 549,000 $ 648,621 $ 649,000 $ 760,659 $ 747,000 $ 858,229 $ 874,900 $ 982,463 $ 975,000 $ 1,070,493 $ 1,082,557 $ 1,177,257 $ 1,199,625 $ 1,264,125 $ 1,249,000 $ 1,393,375 $ 1,377,000 $ 1,549,400 $ 1,497,000

$ 282,450 $ 282,450 $ 365,411 $ 369,450 $ 455,785 $ 450,000 $ 545,882 $ 545,000 $ 639,620 $ 639,450 $ 748,354 $ 745,000 $ 851,044 $ 849,900 $ 966,577 $ 964,900 $ 1,059,909 $ 1,072,725 $ 1,170,179 $ 1,199,250 $ 1,254,625 $ 1,249,000 $ 1,373,075 $ 1,373,500 $ 1,549,400 $ 1,497,000

$ 273,000 $ 273,000 $ 360,615 $ 360,000 $ 451,644

97% 97% 99% 97% 99%

N/A 0.5 1.2 0.9 1.7 1.2 1.6 2 N/A 5.5 2.3 4.5 5.4 2

A M A M A M A M A M A M A M

48 31 60 45 54 31 44 28 65 36 51 25 116 84

$ 371,250 $ 372,500 $ 456,336 $ 449,000 $ 542,884 $ 529,900 $ 661,492 $ 666,784 $ 759,067 $ 754,000 $ 850,422 $ 850,000 $ 964,222 $ 957,500

15 23 19 15 11 6 3 0

$ 454,000 101% $ 544,764 100% $ 542,000 99% $ 640,330 100% $ 638,000 100% $ 749,222 100% $ 747,500 100% $ 847,472 100% $ 846,146 100% $ 952,077 $ 955,000 $ 1,035,891 $ 1,048,132 $ 1,149,833 $ 1,150,000 $ 1,234,125 $ 1,242,000 $ 1,343,825 $ 1,335,000 $ 1,500,500 $ 1,455,000 98% 99% 98% 98% 98% 96% 98% 99% 98% 97% 97% 97%

A M A M A M A M

60 44 58 24 56 57 41 44

$ 1,166,182 $ 1,175,000 $ 1,248,000 $ 1,250,000 $ 1,379,333 $ 1,381,000 $ 1,727,989 $ 1,688,000

0 1 2 2 103

7 2 14 209

Market Totals Market Averages Market Medians

34%

55 37

$ 548,774 $ 529,900

Date Range (Off-Market & Sold) = 05/05/2013 to 11/03/2013 Data believed to be accurate but not guaranteed.

Favors Sellers

Status = [1] ACTIVE; [2] CNTG/KO, CNTG/NO KO, CONTRACT; [3] EXPIRED, WITHDRN, TEMPOFF; [4] SOLD CityName = Falls Church PropertyType = Residential

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Market Summary Table

FALLS CHURCH
Sunday, November 3, 2013 Tania Ivey & Marc Cormier
Keller Williams Realty Marc@Help2ownaHome.Com 301 660-6272 1. PROPERTIES FOR SALE (ACTIVE) a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Current List Price: The price that a property seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a list-to-pending ratio. This is a measure of how fast properties are going under contract vs. how fast they are being listed. Pending Ratio = P (Number of Pending Listings) A+P (Number of Active + Pending)

REAL ESTATE MARKET REPORT

(P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. OFF-MARKET a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD (CLOSED CONTRACT) a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months. c. Original List Price: The price at which a sold property was originally marketed. d. Final List Price: The price at which a sold property was marketed just prior to selling. e. Sold/Closed Price: The price for which a property sold. f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio = Sold Price Final List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.

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Glossary