Are Andresen

Archive for January, 2012

Mixed Messages On Market at the Fountains at McLean in Tysons Corner

There is excitement in Tysons Corner with the new Silver Line metro nearing completion this year. Many new communities will now be within walking distance to the metro for the first time – Fountains at McLean being one of them.

The number of sales are down at the Fountains at McLean. There were only 15 homes sold in 2011 (versus 24 homes sold in 2010.)

The 1-bedroom prices were likely affected by three short-sales and two foreclosures. The average price for a 1-bedroom at the Fountains at McLean is now at $195,618 (down from $217,184 in 2010.) The average 2-bedroom price kept pretty stable at $304,500 in 2011 (down a little from $308,125 in 2010.)

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Prices and Rents are Up in Pimmit Hills in Tysons Corner!

Real estate in the Pimmit Hills subdivision in Falls Church did great in 2011. Over 50 homes sold during 2011 and at a higher “similar home average” than in 2010!  The increase in prices is not that significant but the trend seems clear – prices have stabilized and are slowly increasing (graph later in this post.)

So, is the turnaround in prices here to stay? Are there still forclosures and short sales in the pipeline? And how long is the typical home taking to sell this year as compared to last year? Read on and you will get the information needed to answer those questions!

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Great Communities Near New Tysons Corner Silver Line Metro

With the development of the new Silver Line metro the areas around the new metro stations have gained in popularity. There aren’t really that many residential developments in the center of Tysons Corner – here are some of those that will benefit:

Tysons -Mclean
Gates of McLean, The Westerlies, The Colonies, Encore, Hallcrest Heights, Hunting Ridge, Morgan at McLean

Tysons I & II
Parc Crest, Lillian Court, Rotonda

Tysons Central
Rotonda, Lillian Court

Tysons- Spring Hill Road
Rotonda, Fountains at McLean

Timing The Real Estate Market in Tysons Corner?

“When is the best time to purchase a home” and ”When is the best time to sell a home” are  questions we get all the time here at Soldsense. Homes are in short supply in this area with stable prices and few foreclosures and short-sales. 

It still takes a lot of time to find suitable homes for clients due to the limited supply in this area - based on  the recent year trends my clients may have to wait a few months more.

So, if you have a choice – when is the best time to sell your home? And what would be the best time to purchase a home?

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