2022 REPORT MARKET REAL ESTATEFairlington QUARTER 1 703-CALL-KAY (225-5529) • khassociates.com BROUGHT TO YOU BY:
New Listings Closed Listings Days On Market (DOM) Ratio of Sales Price to Listing Price YEAR-OVER-YEAR QUARTER 1 COMPARISON MARKET ANALYSIS 4 FAIRLINGTON 19 22206 190 ARLINGTON What does this mean for you? Even in a HOT market, not all listings sell. When it comes to your home, trust a local expert! Expired or Withdrawn Listings 2021 2022 68 52 55 38 18 14 100.4% 102.9% FairlingtonSales
IT PAYS TO LIST WITH A NEIGHBORHOOD EXPERT!
IN 2021...
Kay Houghton & Associates listed 46 homes in Fairlington with: of $320
An average of 8.9 days on the market, A sales price to list price ratio of 101.1%, An average concession given to buyer
Other agents had: of $1,100
An average of 16.7 days on the market, A sales price to list price ratio of 100.3%, An average concession given to buyer
On a $500,000 sale, that's nearly $5,000 in your pocket & almost half the time spent on the market!
2 sold 12 sold 9 sold
2 sold
BARCROFT
Low $475,500 High $550,000 $510,800 Low $438,000 High $450,000 $444,000 Low $305,000 High $325,000 $315,000 Low $553,000 High $675,000 $628,700 Low $520,000 High $575,000 $536,200 Low $479,000 High $489,000 $484,000
home model
BERKELEY BRADDOCK CLARENDON I CLARENDON II EDGEWOOD
BY THE NUMBERS
Sales price by
3 sold
2 sold
Sales of homes that were in need of major rehabilitation or with special renovations/modifications are excluded to provide a better market analysis
PROPERTY SHOWCASES
Over the past several years, Fairlington homeowners have done some amazing renovations. Here are a couple of our favorite recent listings!
The Barcroft is one of our favorite models, with an expansive lower level that can be configured many different ways This homeowner smartly moved the washer and dryer under the stairs which allowed for a massive expansion of the lower level bathroom
Sales Price: $507,500
Listed by Kay Houghton & Associates
4512 36th St S #A2
PROPERTY SHOWCASES
Before listing, this Braddock model underwent a beautiful and unique renovation that saw the attic space converted into living space with a separate bathroom
The soaring exposed-brick wall is unlike anything you will find elsewhere in the neighborhood.
Sales Price: $575,000
4416 36th St S #B2
Listed & Sold by Kay Houghton & Associates
A NOTE FROM KAY
The Northern Virginia real estate market saw its normal early spring "pop" in 2022. The first quarter saw low inventory and heavy competition for listings as buyers scrambled to buy before rising mortgage rates pushed monthly payments hundreds of dollars higher It's worth noting how quickly the real estate market can change - we saw this in the last several months of 2021 when high inventory levels caused Fairlington homes to sit on the market for several weeks before selling.
Higher interest rates (now above 5% in most cases) will likely cause the market to slow; however, to what extent remains to be seen The increase in telecommuting is also pushing some home buyers to look for homes with additional square footage, more bedrooms, and larger outdoor spaces.
While Fairlington continues to be an excellent investment with sellers realizing great returns, Q1 2022 may have been the high point for the foreseeable future while the overall economic picture stabilizes
If you are looking to sell, your best bet is to trust a neighborhood expert in order to maximize your return. Our team provides free contractor scheduling/oversight, complimentary full-house staging, and an unparalleled marketing plan! We know how to get you the best price in this current market
KWMetroCenter•2111WilsonBlvdSuite1050,Arlington,VA22201•703-224-6000 This is not intended to solicit property already listed If you are currently represented by another brokerage or firm, do not consider this as solicitation and disregard Each office is independently owned and operated ©2022 Kay Houghton & Associates If you are interested in buying or selling, contact us today for a free, no-obligation consultation! 703-CALL-KAY(225-5529)•khassociates.com Licensed in VA, MD, & DC
