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

For this weekend, 05/20-05/22 we have a total of 26 open houses! Starting from $259-2575′s in the great communities of McLean, these are GREAT opportunities you do not want to miss!

Saturday, May 21st

1-4pm:

8425 Sparger St

1:30-4:30pm:

Sunday, May 22nd

1-3pm:

1725 Westwind Way #17

8220 CRESTWOOD HEIGHTS DR #316

1-4pm:

1082 Old Cedar Rd

7520 Royal Oak Dr

7509 Royal Oak Dr

856 Sconset Ln

1004 Woburn Ct

1100 Nielson Ct

1005 Woburn Ct

770 Potomac River Rd

950 Towlston Rd

7811 Langley Ridge Rd

1032 Towlston Rd

1:30-4pm:

8370 Greensboro Dr #311

1:30-4:30pm:

1800 Old Meadow Rd #211

2pm:

2-4pm:

8103 Ridings Ct

Open Houses in McLean (22102) for Weekend 05/20-05/22

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

12 Tysons Corner condos sell in average of 75 Days on Market in November 2010

 12 condos sold in the Tysons Corner Area, McLean 22102 zip code + Vienna 22182 zip code, in the month of November 2010.  They were sold in 7 different communities = Encore of McLean, Gates of McLean, McLean Chase,  McLean Place Townhome, Rotonda, The Colonies, and The Westerlies.  Other Quick Facts about these Tysons Corner Condo sales =

* Sold in Average of 75 days on the market (Low of 3 days and high of 504)

* Average subsidy of $2,975.92 (only 4 of the 12 transactions had a subsidy)

* Average sold to list/ask price ratio 96.2%

* Prices ranged from $202,000 (McLean Chase) to $754,000 (McLean Place Townhome)

* 4 of the 12 Tysons Corner Condos sold in November were distress sale situations or self-described short sales (Encore of McLean, Gates of McLean + Rotonda)

Data from MRIS

ParkCrest sales not all reported to MRIS by developer

Change in access to north bound 495 for north bound 123 traffic in Tysons Corner

There is now a traffic light in active use just inside the beltway, in between the Capital One/Old Meadow intersection and the beltway overpass over Route 123.  This extra traffic light is for HOT lanes construction purposes.  Now traffic will stop regularly both ways as the North bound, towards McLean, will have 2 left turn lanes to merge onto the inner loop of the beltway (495) heading north bound towards Maryland.  The HOT lanes construction has closed the former on ramp in order to continue working on the overpass going over 123.

The traffic had been pinched by the loss of both inside, left most, lanes of traffic on Route 123 from between the beltway overpass and the Capital One/Old Meadow intersection – north bound and south bound. However, now the left most lane on the south bound portion of 123 has been returned.

So what is better?  A traffic light where you need to stop on regular intervals? or having one of the two lost lanes back?  This is a tough question.

Can’t wait till holiday shopping time, when we should get both of the “Lost Lanes” back.  Click here for more information on the Virginia HOT Lanes project, and how it affects Tysons Corner.

Tysons Corner communities most affected by this added traffic light are: the Gates of McLean, Encore of Mclean, Regency of McLean, and The Colonies.  Those at the Westerlies,  McLean Hills, and McLean Chase could be affected as well – but they can always escape on Great Falls Rd. or Magarity.

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

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