Are Andresen

Woodburn Village 2011 Sold and Rented – Fewer Distressed Sales!

There has been a great level of activity in Woodburn Village this year with 20 sales up to date this year (10/10/2011.) Last year there was a total of 30 sales, so the number of transactions may end up a little bit down for this year.

However, the best piece of news is that the number of distressed sales have gone down significantly. In 2009, only 23% of the sales were normal sales, in 2010 33% were and this year so far 55% of the sales are normal sales! That is great news for owners and the community and prices do seem to have stabilized.

Homes on average sell for 97.6% of the original list price. They sell for 99% of the final list price. If you are looking to purchase in Woodburn Village odds are that you will be paying very close to the asking price.

As of 10/10/2011 the number of pending home sales in Woodburn Village is 7. They range in asking price from $100,000 to $170,000. Four of those are short sales, three are regular sales.

Only one home is currently available for sale in Woodburn Village. It is a 1br/1ba foreclosure listed at $120,000. Please click here to see what is currently for sale at Woodburn Village.

To get a better understanding of the overall price development in the neighborhood, please see below graph.

As can be seen from the above graph, the average sales prices seem to have bottomed out in 2009 and have started trending upwards. For 1 bedrooms the average price rose a bit – there are few 1 br sales each year and just a sale or two can create a big price change.

Looking at the upcoming foreclosures on Realist I found 1 pre-foreclosure, 4 recent or upcoming auctions and 1 bank owned properties. Some of the bank owned ones or auctions may already have been listed and/or already be under contract or sold.

Moving on to rentals the rental prices seem to keep climbing a little bit each year. So far this year 19 properties have been rented versus 28 the whole of last year.  There is currently 1 property listed for rent at $1,400 for a 2br/1.5ba.

For investors the GRM has stayed pretty much the same since 2008 (price vs rent ratio.)

Woodburn Village is a great neighborhood and the prices have been stable for the last couple years. Coupled with the low interest rates and increasing rents this is an excellent time to buy. If you would like to discuss selling or purchasing at Woodburn Village please give me a call or contact me online.

Are Andresen
Broker, Soldsense Realty LLC
Licensed Virginia
“Your sixth sense in real estate”

Disclaimer: The data above is not guaranteed in any way and may contain errors and omissions and is based on MRIS data only. The analysis is my opinion only – always do your own research.

This entry was posted on Thursday, October 6th, 2011 at 12:39 pm and is filed under Annandale, _Woodburn Village. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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