Rotonda Real Estate Re-cap for July 2009 (22102 Zip Code)

3 properties were SOLD in the Rotonda in Tysons Corner in the month of July 2009. The properties Sold were =

1) A J model, 3 bedroom 2 bathroom, home in building 8380. This property was asking $399,900 at time of contract, and sold for $390,000 with no subsidy. The home was on the market for 214 days, and originally listed at $444,900.

2) A 2 bedroom 1.5 bathroom, D model, in building 8370. This home sold for $334,000 when it was asking $339,000. The property sold in 13 days. There was no subsidy, or seller closing cost contribution on this transaction.

3) A model G, 2 bedroom 2 bathroom, style home in building 8350. This property sold for $321,000 and $5,000 subsidy. This is a net price of $316,000. The contract was accepted when the property was at an asking price of $325,000. This home was on the market for 21 days.

The general statistics for the month of July, in 2009, at the Rotonda, in Tysons Corner, are an average of [A] 83 days on the market [B] $1667 in seller closing cost contribution to the buyer, and [C] $254.34 price per square foot.

Same month last year, July 2008, featured general statistics of [D] 2 sold properties, [E] 160 days on market average, and [F] $321.26 price per square foot average.

In July in the Rotonda in Tysons Corner there were also 10 properties rented. They ranged in price from a one bedroom one bathroom property that rented for $1,450 all the way upto a 3 bedroom 2 bathroom property that rented for $2,450.

Right now there are currently 25 properties on the market in the Rotonda. 13 of those are for rent. The other 12 are for sale. Here is a graphic =

Data from MRIS

3 Sold in Rotonda in April 2009

There were 3 properties sold in the Rotonda in April 2009. They are shown above. They were models = C, E, + F. The average time on market was 61 days on market. The average price per square foot was $259.75.

In same month, April 2008, last year there were 5 sold properties. They were on the market an average of 99 days on market. And they had an average price per square foot of $303.8.

Right now at the Rotonda there are 15 properties on the market for sale. And at 3 a month that equals 5 month's supply if nothing new were to come on the market.

data from MRIS

If it's priced right it will sell

There was one home sold in February in the Rotonda. It was a large 3 bedroom 2 bathroom J model. It was also on the top floor. Besides the great views, this home had luxury baths, a gourmet kitchen, hardwood floors, one garage parking space, and a storage unit.
The title of this blog post refers to the days on market. This property was on the market for a grand total of 12 days. That's pretty quick in any market. So it does go to show if the home is nice, and priced right, it will sell.
I will clarify that priced right still doesn't mean you're going to get asking price. Buy buyers have to think you're in the "deal" range to even considering coming to look, or for that matter making an offer.
This home was asking $517,000 and sold for $495,000.
In terms of transactions month over month, the one settled property is staying pace with February of last year, which also had 1 sold transaction. In comparison to the month immediately prior, January 09, it is also the same story. So far in 2009 in the Rotonda - 2 closed months + 2 closed transactions.

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2008 4th Quarter Review = Rotonda

In the 4th Quarter of 2008 there were 8 SOLD properties in the Rotonda. The majority of those, 5, were 2 bedroom 2 bathroom models. More data is below.

However as a whole the community averages for the 4th Quarter of 2008 are as follows =

- 94.8% Net Sold to List price ratio

- 132 Average Days on the Market

- $1,812.50 Average Seller Concessions

In the 4th Quarter of 2008 there was slightly more happening in the Rental market in the Rotonda. 9 properties were RENTED in that quarter. Unlike in the sales side, the majority of these, 6, were 1 bedroom 1 bathroom models.

The community averages for the Rotonda Rentals in the 4th Quarter of 2008 are =

- 93.5% Rented to List price ratio

- 51 Average Days on the Market

Something going on in December 2008 - month in review

The Rotonda was significantly more active in terms of Real Estate transactions compared to most of ther other Tysons Corner communities for December 2008. There were 5 SOLD properties, and "x" RENTED properties.

Of the 5 SOLD properties this month, 4 were 2 bedroom 2 bathroom style, the other 1 was a 1 bedroom 1 bathroom. These 2 bedrooms averaged out to sell for $362,225 and in an average of 117 days on the market. The high SOLD price was $385,000, with the low SOLD price being $290,000. There was also an average subsidy, to the buyer, of $2,375.
The 1 bedroom settled at a price of $255,000 and gave $5,000 subsidy to the buyer. It was on the market for 111 days, and originally asked a price of $305,000.

The 0 (zero) properties reported RENTED in the Rotonda community this month are significantly off from the 6 that RENTED in December of 2007. There are also 17 properties available to RENT right now at the Rotonda. Recognizably, it's not the hottest time that people RENT around the changing of the year, but you would think that if priced attractively enough there would be one or two that got a lease signed.

(data from MRIS)