The activity in Woodburn Village has been good this far in 2013 with 13 total sales. Inventory throughout Northern Virginia has been limited this whole year. Last year there were a total of 22 sales so seems we are on track to do about the same number this year. That is a far cry from the 42 that sold in 2008, however back then they were mostly foreclosures and short sales.
A great piece of news is that the number of distressed sales keep going down. In 2009, only 23% of the sales were normal sales, in 2010 33%, in 2011 57% of the sales were normal. Up to this year in 2013, only one sale was distressed out of 13 total. That is great news for the owners and the community and prices have kept on rising over the last few years.
The inventory is very low at Woodburn Village and homes sell very quickly. 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 the average sales prices seem to have bottomed out in 2009. The two and three bedroom units seems to be going steady upwards – this year the 1 bedrooms got back on the upwards curve after a dip last year (due to low number of sales the average was heavily influenced by one particular unit.)
Moving on to rentals the rental prices keeps their upward trend too:
Woodburn Village is a great neighborhood and the prices have been stable for the last couple years. Coupled with the historically low interest rates(up about 1% from an historic low) and increasing rents this is an excellent time to buy for a home or investment. If you would like to discuss selling or purchasing at Woodburn Village please give us a call or contact us online.
Are Andresen Broker, Soldsense Realty LLC Licensed Virginia “Your sixth sense in real estate”