Happy Saturday.  Can’t believe it’s a week until Christmas.  The year will soon be over.  Which is why this blog is relevant.  What has the pace of condo sales been like in Tysons Corner This year?  Check it out - here is some neat data on the 13 condo communities in Tysons Corner showing sold homes in the MLS this calendar year.  Reminder, Tysons Corner is considered to be the meeting of Vienna Virginia 22182 and McLean Virginia 22102 zip codes.  So home sales in McLean and home sales in Vienna, that are condos, in these two zip codes, are what make up Tysons Corner Condo sales.

The trend in 2011 in the Tysons Corner area has been for relatively low inventory.  This has made for homes priced right selling pretty quickly in terms of days on market stats.  That said, prices have remained flat or slight movement up, if any movement, in most of the Tysons Corner Condo neighborhoods.

Here is the data for the 13 Tysons Corner Condo communities = Encore of McLean, Fountains at McLean, Gates of McLean, Lillian Court at Tysons, McLean Chase, McLean Hills, McLean Place Townhome, One Parkcrest, Regency at McLean, Rotonda, The Colonies, The Westerlies, and Westwood Village.

Most Condo neighborhoods in Tysons Corner have less sales this year than 2010

As you can see, the Tysons Corner Condos as a whole were down to only 90% in terms of sold homes in 2011 vs. the real estate sales in 2010 of same Tysons Corner Condo neighborhoods in same calendar date range.  With the entire category of Tysons Corner Condos being down, there were some neighborhoods that bucked the trend and actually sold one or more greater than their 2010 numbers sold.  Those neighborhoods were = Encore at McLean, Lillian Court at Tysons, McLean Place Townhome, Regency at McLean, and Rotonda.

No matter what Tysons Corner neighborhood you’re interested in, I am Jeff Wu and I can assist you with all of your real estate needs in Tysons Corner, McLean, Vienna, or any other surrounding area. If you are planning on selling your house or buying a home, or investing in real estate, please contact me at Jeff@Agent Knows Homes.com

8 different condo neighborhoods had sales in Tysons Corner area January 2011 real estate

In January 2011 there were 13 Condos sold in the Tysons Corner Area. [affectionately I am referring to: real estate in the Vienna zip code 22182 and real estate in the McLean zip code 22102; when I say "Tysons Corner Area"] They were sold in 8 different communities: Encore of McLean, Fountains at McLean, Gates of McLean, McLean Chase, One Park Crest, Rotonda, The Colonies, and The Westerlies.
The most homes sold in the Tysons Corner condo category in January 2011 was in Rotonda. They had 3 condo sales. The Encore of McLean, Gates of McLean and McLean Chase all came in 2nd with 2 condos sold in Tysons Corner.
The properties, all 13, were sold in an average of 54 days on the market, with a low of 7 and a high of 102.

Other Key statistics =

* only 2 of the 13 gave seller subsidy

* sold to list price ratio at time of contract was 97.8%

* 4 of the 13 Tysons Corner condos sold can be referred to as distressed real estate sales

- 1 was described as a short sale

- the 3 others were described as foreclosure or bank owned

For more information on these properties, or anything for sale right now in the Tysons Corner Area, feel free to contact: Jeff Wu, Century 21, New Millennium 571-248-1110 or Jeff@AgentKnowsHomes.com

data from MRIS

42 condos sold in Tysons Corner zip code 22102 in 3rd quarter of 2010

Overall Stats =

- Average days on market = 39

- Average Seller Subsidy = $1440

- Style of homes sold = 9 One bedroom properties, 27 two bedroom homes, and 6 three bedroom properties

- Style of building = 24 Garden Style [MLS definated as 1-4 floors], 14 High-Rise [MLS definated as 9 or more floors], and 4 Townhome style [multiple floors]

- 42 Tysons Corner condos sold for the 3rd quarter 2010 is slightly less than the 48 sold in 2009, however in 2009 the average days on market was a longer 65 days

- of the 42 Tysons Corner condos sold, 7 were referred to as distressed properties [5 short sale, and 2 foreclosure/bank owned]

22102 condo Neighborhood Breakdown =

* Fountains at McLean = 4 Tysons Corner Condos sold [3 less than same quarter 2009]

* Gates of McLean = 4 Tysons Corner Condos sold [2 more than same quarter 2009]

* Lillian Court = 7 Tysons Corner Condos sold [3 more than same quarter 2009]

* McLean Chase = 4 Tysons Corner Condos sold [same as same quarter 2009]

* McLean Hills = 2 Tysons Corner Condos sold [same as same quarter 2009]

* McLean Place Townhome = 1 Tysons Corner Condos sold [1 less than same quarter 2009]

* One Park Crest = 2 Tysons Corner Condos sold [same as same quarter 2009]

* Regency at McLean = 2 Tysons Corner Condos sold [same as same quarter 2009]

* Rotonda = 10 Tysons Corner Condos sold [4 less than same quarter 2009]

* The Colonies = 3 Tysons Corner Condos sold [same as 3rd quarter 2009]

* The Westerlies = 3 Tysons Corner Condos sold [2 more than same quarter 2009]

data from MRIS

Tysons Corner Condos Sold May 2010

16 Condos (Condominiums) were sold in the Tysons Corner area in Northern Virginia in May 2010.  This includes 22182 (Vienna) and 22102 (McLean)  zip codes.  Properties ranged from a one bedroom one bathroom condo at the Fountains At McLean asking $218,000, with 624 square feet, all the way to a two bedroom two and a half bath condo in the One Park Crest building with 1620 square feet asking $728,000.  Here are some quick stats:

* Tysons Corner Condo real estate changed hands in these condo communities in May 2010 = Fountains at McLean (4), Gates of McLean (3), One Park Crest (2), Regency  At McLean, Rotonda, The Colonies (3), The Westerlies, and Westwood Village

* Average Days on Market = 24

* Average Sold to List Ratio = 99.15%

* Average Subsidy $479 (only 3 had any subsidy)

* Bank Owned or “Foreclosure” properties in Tysons Corner = 2

* Short Sale Transactions in Tysons Corner Condos = 0

* Up 46% over the number of Tysons Corner Transactions settled in May 2009 (same month, previous year)

* up 5.5% over the number of Tysons Corner Condos sold in April 2010 (previous closed month)

Data from MRIS

In March 2010 there were 18 condos sold in the Tysons Corner Real Estate Market.  The most of those were in Park Crest, the luxusious new Tysons Corner condominium that is right next door to the (also new) Harris Teeter Grocery, and not far from Tysons Corner Galleria Mall.  Park Crest had 9 of the 18 sales.  That is amazing for a community that was close to 80% sold out before breaking ground then had about half of those people walk away from their deposits when the market turned leaving them in the 40% sold range.  They’ve definately come a good ways from that bottoming out point.  I’m sure it helps that they’re on the FHA approved list now, and of course the drop in their asking prices doesn’t hurt either.  Either way, their luxury and style fits right in with the energy in Tysons Corner.

The rest of the sales of Tysons Corner Condos in March 2010 occured in: Fountains at McLean (3), Gates of McLean, Lillian Court (2), and the Rotonda (3).

Sales ranged as low as $205,000 in the Fountains for a 1 bedroom, to as high as $745,200 for a 2 bedroom 2 bathroom Tysons Corner home.

The non Park Crest Condos (data not tracked for new home days on market) were on the market an average of 54 days. 

Of all the tysons corner condos sold there was an average of $4,300 in subsidy from the seller to the buyer.

3 of the 18 tysons corner condos sold were listed as potential short sales.

0 of the condos, none, of the tysons corner real estate we’re referring to above was listed as bank owned or foreclosure.

The sold vs. list ratio of the properties was 99.5%, while the net sold vs. list ratio was 98.5%.

See all the Tysons Corner Condos sold in March 2010 in the chart below.

Tysons Corner Condos Sold in March 2010

Today, 2/26/10, there are 35 properties for sale in the Tysons Corner area (McLean 22102 zip code + Vienna 22182 zip code) in the price range from $300,000 to $600,000. 

Quick Facts

- 19 are Condos, 8 are townhomes, and 8 are detached single family homes

- Communities with properties for sale in Tysons Corner Area in the price range $300,000 to $600,000 = Courthouse Station (2), Dunn Loring Garden, Eudora, Fountains at McLean, Hahn Property (2), Hallcrest Heights (2), Lillian Court (2), Madrillon Springs, Martin, Park Crest (only 2 listed), Regency at McLean (5), Rotonda (7), Spring Lake (2), Sunnybrook, The Colonies (2), The Trails, Tysons Townes, and Tysons Woods

- Distressed Properties (5 of 35 total properties) = 1 is a bank owned property, and 4 are listed as potential short sales.

Tysons Corner available real estate $300,000-$600,000

data from MRIS

Key stats for 22102, Tysons Corner area, zip code =

* – 52 homes/properties under contract right now (11-27-09 9:01pm)

* – Of the 52 homes under contract: 27 are condominiums (condos), 4 are townhome or attached homes, and the other 21 are single family homes

* – 20 of the 52 homes are identified as potential short sales

* – 1 of the 52 is identified as a foreclosure or bank owned sale

* – The properties were on the market from 0 to 828 days before getting a contract, with the average number being 72 days on the market for these Tysons Corner area properties.

* – Gates of McLean, the Tysons Corner condominum neighborhood, lead all communities with 7 properties under contract.  Coming in second, all with 3 properties under contract were: Hunting Ridge, Park Crest, Peacock Station, Rotonda and The Colonies.

Tysons Area Properties under contract 22102 zip code