Quick Look at the Neighborhood Sales Report for Lillian Courts. A couple of  Sold & Under Contract within the Last Three Months!

Jeff Wu, your Tysons Corner Specialist! Helping people Buy, Sell & Invest in Real Estate – Have a great Day!

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, 04/01-04/03 we have a total of 19 open houses!!! Ranging from $319-1835′s in the great communities of McLean, these are GREAT opportunities you do not want to miss!

Saturday April 2nd

12-4pm:

8100 Spring Hill Farm Dr

Sunday April 3rd

12-4pm:

8100 Spring Hill Farm Dr

1-4pm:

1503 Lincoln Way #104B

1625 INTERNATIONAL DR #316, MCLEAN, VA 22102

1321 Titania Ln

8308 Hunting Hill Ln

7509 Royal Oak Dr

7418 Old Maple Sq

1120 Brook Valley Ln

1008 Eaton Drive

1467 Mayhurst Blvd

1201 Alps Dr

2-4pm:

7634 Huntmaster Ln

Map of Open Houses in the McLean (22102) Area for Weekend 04/01-04/03

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

6 Tysons Corner Condos for Rent = Lillian Court

LILLIAN COURT SALES

One home sold in Lillian Court in the month of July 2010.  The home to change hands in this Tysons Corner Condo community was a top floor Jonathan Model.  It is 992 square feet.  The Lillian Court condo sold was in building 1625, and it came with one assigned garage parking space.  This Tysons Corner condo sold in 48 days.  Although this McLean zip code community, Lillian Court, only had one property sold in the month – we still like to know our stats.  For the month of July 2010, the stats are = [a] $0 subsidy [b] 48 day average on market, [c] $362.90 price per square foot, and [d] 98.63% sold to list price ratio.

These numbers are somewhat better than the zero (0) properties sold in Lillian Court in the previous month, June 2010.  However, about equal to the volume of Tysons Corner Condos sold in Lillian Court in the same month previous year, July 2010.  In July 2010, again with only one property sold in Lillian Court (so same small sample size), there was a slightly lower value of $346.27 price per square foot.

Right now this McLean zip code (22102) community has 6 properties under contract.  Two of those Lillian Court properties under contract are described as “short sales.”  Those tend to take quite a while under contract.  See more information in the Lillian Court Under Contract chart below:

Lillian Court, a Tysons Corner Community, has 6 properties for sale that are currently, 8-5-10, under contract

There is one property currently for sale in Lillian Court, it is an 848 square foot Eden model.

LILLIAN COURT RENTALS

Three properties in Lillian Court rented in the month of July 2010.  They were on the market an average of 32 days.  This seems to be the same seasonal pace for rentals as there were also three recorded for July 2009 in Lillian Court.  Last year they averaged a slightly longer 48 days on the market.

Right now there are no properties in Lillian Court that have an application registered for rent.

There is plenty of inventory for rent right now in this Tysons Corner community.  As you can see in the chart below, there are 6 homes for rent right now in Lillian Court.

Next to Tysons Corner Galleria Mall and an easy walk to the new Tysons Corner Harris Teeter, Lillian Court is an appealing place to live.  And soon it will be equally well located to the under construction Dulles Metro (Silver Line).

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

Liallian Court a community in the Heart of Tysons Corner

2 properties were sold at the Tysons Corner condo community, located next to the Tysons Galleria Mall, known as Lillian Court.  The first was a townhome style two level property with two bedrooms and two and a half baths, for a total of 1282 square feet.  This home sold for $405,000.  The second home sold in September was also a two bedroom, but this time it was a more traditional style condo on one level.  This property had 1114 square feet and was a Jacyln model.  This Lillian Court home sold for $385,000.  Neither sale had any seller subsidy to the buyer.  These 2 properties sold in an average of 57 days on the market, and an average of approximately $330 per square foot.

This compares farely well for last year, when there was only one sold property in the same month (September 2008) in Lillian Court.  It was also a townhome style 2br with 1282 square feet.  It sold for approximately $335 per square feet in 183 days on the market.  So given this comparison, however small the data sampling, the pace of the market is picking up even if the prices aren’t above last years (though they’re not too far off).

Right now in Lillian Court there are 4 properties under contract.  One is a two bedroom one bathroom style condo, that many would call a one bedroom with a den.  Two others are one bedrooms.  And the fourth is a townhome, 2 level, style two bedroom.  Of these same four properties, 3 seem to be normal sales, and one is a short sale.  There are no bank owned properties to speak of.

Currently there are 3 properties available for sale at Lillian Court.  Two of those are two bedroom one bathroom style properties.  The third is a two bedroom on two levels, non town home style.  This is one of a few condos that is on the top two floors of the building and has some very appealing high ceilings in the living room.  Of these three on the market right now at Lillian Court, none claim to be in any form of a distress sale type situation.