Friday, November 4, 2011

The state of Brightwood real estate - November 2011

Time for our monthly look at neighborhood home sales with realtor Eric Brooks...

Active properties on the market in October:
33 properties are for sale now
Ranging from $89,999 to $799,00
2 of these are foreclosed homes and 5 are short sales

Nov 2011 Active

Properties that went under contract in October:
25 homes are currently under contract
These homes should settle over the next 30 days
Ranging from $58,000 to $499,000
4 of these were foreclosed homes and 5 are short sales

Nov 2011 Under Contract

October sold numbers
Only one home sold in the month of October (1363 Rittenhouse Street NW). The asking price was $355K and the seller got that minus a seller subsidy of $9,400.
Note: It's highly unusual for just one home to be sold over the course of a month. I suspect that some of the foreclosures and short sales did not go to settlement due to issues that buyers may have had with these properties -- and that is why we have more houses under contract this month than normal. The market has been tough over the past six months, and rates seem to be staying in the low 4%. When the bulk of distressed properties are off the market, a true recovery will happen.

Nov 2011 Sold

Info provided by Eric Brooks, a Long and Foster Real Estate agent who works to deliver exceptional results for his clients in Brightwood and beyond.
Contact to set up an appointment at 301-986-6476 or

No comments:

Post a Comment