The market activity at Idylwood Towers slowed this year with prices remaining flat. There were 16 homes sold in 2012 – down from 22 in 2011. The lowest price was a junior 1br/1ba at $135,000. The highest price was a 3br/2ba property at $300,000.
As of today there are 6 homes listed for sale ranging in price fro $188,000 for a 1 bedroom to $349,000 for a 3 bedroom/2bath. You can see the homes currently for sale here.
To get a better understanding of the overall price curve in the neighborhood we can take a look at the sales history of the various models.
The average sales prices did go up in 2010 (one bedrooms went up about 5% and two bedrooms about 8%.) That could have been a temporary bump due to the home buyer credit though. Prices for 2011 and 2012 have gone back to 2009 levels. The flat prices and few sales indicate that Idylwood Towers just isn’t that hot right now with purchasers despite the overall strengthening of the real estate market.
Moving on to better news – rentals. The rents keep going up this year. 32 properties rented in 2012, compared to 28 properties rented in 2011. There are currently 6 properties listed for rent ranging from a 1br/1ba listed at $1,575 to a 3br/2ba listed at $2,100. As can be seen on the below graph the rents have been increasing nicely the last few years.
Idylwood Towers is a great place to call home and the prices are still low. Coupled with low interest rates and rising rents this is a great time to buy. If you would like to discuss selling or purchasing in Idylwood Towers, please give us a call at 703 560-3424 or contact us online.
Broker, Soldsense Realty LLC
“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.