2009 Trends in Housing Year-End Report (MRIS)

Metropolitan Regional Information System (MRIS), the company that runs the multiple listing service for the D.C. metropolitan area, has released the Trends in Housing Year-End 2009 Report.  The report includes an analysis of the of the regional economy, an examination of regional housing data and a review of trends, and discussion of the housing sector’s impact on other industries.

They found that the number of houses sold in the Washington D.C. area in 2009 was up 11.4% from 2008 and that over that span average home sales prices were up 3% in Alexandria, VA and 14% in Arlington and D.C.  D.C. was also shown to have the lowest rate of unemployment, at just 6.1% compared to the national average of 10%.  Low mortgage rates and the $8,000 federal tax credit ushered many new home buyers into the market.  While many home sellers are offering concessions to buyers in order to facilitate sales, those tactics are shrinking.

The report also made several predictions.  The researchers believe that renewed demand in 2010 will continue to yield yearly price gains, first becoming apparent in the outer suburbs but extending to other areas in the near future.  Also, the National Association of Homebuilders estimates that the extended and expanded tax credit will generate 180,000 additional home sales nationally.  And it is believed that the first half of 2009 saw the D.C. regional economy hit bottom and that it is now in the beginning stages of recovery.

The report states, “The Washington area housing market is in the early phases of the recovery cycle.  Of note, most major market indicators have improved compared to one year earlier.”

Claudia webb RE/MAX Allegiance
Northern Virginia Real Estate

Top Ten Most Expensive Properties on the Market in Arlington Today

Top Ten Most Expensive Properties on the Market in Arlington Today

1.  $7,950,000:  407 Chain Bridge Road in Arlingwood (5 br, 5 fb, 1 hb)*.  Sprawling Contemporary Estate set on nearly 2 acres and built tight into the riverbank overlooking Potomac River Rapids on McLean’s Gold Coast. Residence features gracious and wide open entertaining spaces with walls of glass capturing the breathtaking views throughout its approximately 12,000 sq ft floor plan.

2.  $5,499,000:  175 Chain Bridge Road in Arlingwood (4 br, 3 fb, 1 hb).  One of McLean’s most sought after locations overlooking the Potomac River.  Sited on 2.3 incredible acres designed by Charles Goodman in 1951, designer of the original National Airport and extensively renovated in 2004.  This treetop contemporary is the ultimate retreat for privacy and comfort.  Infinity koi pond, lap pool, sports court, observation decks, and panoramic views to Washington, D.C.

3.  $4,875,000:  2923 N. Glebe Road in Cathedral View (3 br, 3 fb, 3 hb).  One of only 4 sophisticated European-style townhouses.  Stone and brick, 4 levels, attached Guest Suite, magnificent appointments.  Unbelievable panoramic views of Washington Golf and Country Club as well as the National Cathedral.  Buyer will have unique input over interior design, features and layout. Elevator and movie room are standard.  Majestic outdoor spaces.  Truly a one-of-a-kind opportunity.

4.  $4,375,000:  3430 Abingdon Street in Country Club Hills (6 br, 7 fb, 4 hb).  This premier new custom home offers the very best of everything.  Boasting over 10,000 sq ft, 6 floorplans, elevator, 4 car garage, 2 family rooms plus a seperate carriage house.  All on a fabulous level 1/2 acre lot.

5.  $2,850,000:  1830 N. Herndon Street in Lyon Village (7 br, 5 fb, 1 hb).  This stunning 1941 Colonial was renovated in 2006 by national award winning T.W. Wallace Construction Co. and is the builder’s personal residence.  Over 6,000 square feet.  Gourmet kitchen with custom red stained cherry cabinets, media room, family room, formal living and dining rooms, exercise room, 3 car garage.  Located just a few short blocks from Clarendon Metro and restaurants.

6.  $2,600,000:  1401 Nash Street in Bromptons (4 br, 4 fb, 2 hb).  Breathtaking views of the Potomac and monuments from this gorgeous end unit town home.  5 levels of elegance, with high ceilings, hardwood/limestone floors and gourmet kitchen.  Attention to detail throughout, multilevel moldings, curved staircase, plantation shutters.  Elevator to all floors.  The best in Monument Place.  Rooftop terrace with flower garden.

7.  $2,295,000:  3102 N. 17th Street in Lyon Village (5 br, 4 fb, 1 hb).  New custom home on extra large lot on a beautiful, quiet street.  This home features 5 bedrooms and 5 baths and has unique details throughout.

8.  $2,250,000:  3328 N. Vermont Street in Country Club Hills (4 br, 5 fb, 2 hb).  Stunning stone and brick new custom home with light infused open floor-plan featuring Great Room with cast stone fireplace, main level master suite, elevator to 3 floors, huge recreation room, theatre room wired for video.  Slate roof, copper gutters.  Great location just 2 blocks to Washington Golf and Country Club golf course.

9.  $2,200,000:  2331 N. Ridgeview Road in Lee Heights (4 br, 3 fb, 2 hb).  Lower level wet bar that is open to recreation room with stone fireplace, built in TV, leads to patio and professionally landscaped fenced yard with waterfall/pond.  2 kohler tubs and heated bathroom floors.

10.  $2,133,130:  4001 N. Richmond Street in Potomac Crest (5 br, 4 fb, 1 hb).  One light to D.C.  Finished lower with wet bar, red oak random width floors thru main and upper foyer, classic trim details.  Energy Star appliances, Gourmet kitchen, breakfast room opens to family room with walk out to slate patio.

*br = bedroom; fb = full bathroom; hb = half bathroom

Claudia webb RE/MAX Allegiance
Northern Virginia Real Estate