Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-13-2008, 01:24 PM
 
523 posts, read 1,417,160 times
Reputation: 135

Advertisements

September 2008 home sales data is now available. The median price of all homes sold in September 2008 was $326,000. Prices haven't been this low since February 2004.

Fairfax County Historical Real Estate Prices

Fairfax County VA *** Year-over-year median price comparison of all homes sold.

*** 2008 *** 2007 *** Change
Sep / 326,000 / 435,000 / -25.06%
Aug / 375,000 / 478,750 / -21.67%
Jul / 379,950 / 480,000 / -20.84%
Jun / 412,500 / 490,000 / -15.82%
May / 399,000 / 460,000 / -13.26%
Apr / 400,000 / 474,200 / -15.65%
Mar / 395,000 / 456,000 / -13.38%
Feb / 405,000 / 448,000 / -9.78%
Jan / 395,000 / 456,000 / -13.20%

*** 2007 *** 2006 *** Change
Dec / 430,000 / 450,000 / -4.44%
Nov / 420,000 / 462,000 / -9.24%
Oct / 425,000 / 460,000 / -7.61%
Sep / 435,000 / 445,000 / -2.25%
Aug / 478,750 / 469,000 / +2.08%
Jul / 480,000 / 485,000 / -1.03%
Jun / 490,000 / 500,000 / -2.00%
May / 460,000 / 487,000 / -5.59%
Apr / 474,000 / 480,000 / -1.21%
Mar / 456,000 / 477,000 / -4.40%
Feb / 448,000 / 469,000 / -4.47%
Jan / 456,000 / 450,000 / +1.39%

*** 2006 *** 2005 *** Change
Dec / 450,000 / 484,000 / -7.05%
Nov / 462,000 / 482,000 / -3.99%
Oct / 460,000 / 489,000 / -6.02%
Sep / 445,000 / 485,000 / -8.25%
Aug / 469,000 / 500,000 / -6.20%
Jul / 485,000 / 503,000 / -3.58%
Jun / 500,000 / 500,000 / 0.00%
May / 487,000 / 489,000 / -0.50%
Apr / 480,000 / 458,000 / +4.80%
Mar / 477,000 / 441,000 / +8.14%
Feb / 469,000 / 416,000 / +12.69%
Jan / 450,000 / 408,000 / +10.60%

*** 2005 *** 2004 *** Change
Dec / 484,000 / 410,000 / +18.80%
Nov / 482,000 / 395,000 / +22.03%
Oct / 489,000 / 348,000 / +33.45%
Sep / 485,000 / 349,000 / +22.89%
Aug / 500,000 / 380,000 / +18.60%
Jul / 503,000 / 351,000 / +21.30%
Jun / 500,000 / 380,000 / +16.58%
May / 489,000 / 359,000 / +29.8%
Apr / 458,000 / 365,000 / +25.48%
Mar / 441,000 / 360,000 / +22.53%
Feb / 416,000 / 327,000 / +27.40%
Jan / 408,000 / 325,000 / +25.69%

*** 2004 *** 2003 *** Change
Dec / 410,000 / 339,000 / +20.94%
Nov / 395,000 / 315,575 / +25.17%
Oct / 395,000 / 312,000 / +26.60%
Sep / 395,000 / 315,000 / +25.40%
Aug / 395,000 / 332,000 / +18.98%
Jul / 397,000 / 325,000 / +22.15%
Jun / 400,000 / 325,000 / +23.08%
May / 385,750 / 315,000 / +22.46%
Apr / 365,000 / 299,900 / +21.71%
Mar / 360,000 / 289,900 / +24.18%
Feb / 326,000 / 274,900 / +18.59%
Jan / 325,000 / 274,950 / +18.20%

*** 2003 *** 2002 *** Change
Dec / 339,000 / 280,000 / +21.07%
Nov / 315,575 / 265,000 / +19.08%
Oct / 312,000 / 265,900 / +17.34%
Sep / 315,000 / 274,999 / +25.40%
Aug / 332,000 / 289,900 / +14.52%
Jul / 325,000 / 282,700 / +14.96%
Jun / 325,000 / 286,600 / +13.40%
May / 315,000 / 272,300 / +15.68%
Apr / 299,900 / 260,000 / +15.35%
Mar / 289,900 / 269,990 / +7.37%
Feb / 274,900 / 245,000 / +12.20%
Jan / 274,950 / 250,000 / +9.98%

*** 2002 *** 2001 *** Change
Dec / 280,000 / 255,000 / +9.80%
Nov / 265,000 / 236,900 / +11.86%
Oct / 265,900 / 235,950 / +12.69%
Sep / 274,999 / 240,000 / +14.58%
Aug / 289,900 / 250,000 / +15.96%
Jul / 282,700 / 244,900 / +15.43%
Jun / 286,600 / 245,000 / +16.98%
May / 272,300 / 234,450 / +16.14%
Apr / 260,000 / 226,000 / +15.04%
Mar / 269,990 / 230,000 / +17.39%
Feb / 245,000 / 220,000 / +11.36%
Jan / 250,000 / 218,875 / +14.22%

*** 2001 *** 2000 *** Change
Dec / 255,000 / 230,000 / +9.18%
Nov / 236,900 / 210,000 / +11.90%
Oct / 235,950 / 203,850 / +15.28%
Sep / 240,000 / 202,000 / +16.34%
Aug / 250,000 / 214,997 / +16.23%
Jul / 244,900 / 213,000 / +12.63%
Jun / 245,000 / 218,000 / +10.05%
May / 234,450 / 212,700 / +10.48%
Apr / 226,000 / 197,000 / +13.71%
Mar / 230,000 / 195,000 / +17.95%
Feb / 220,000 / 198,000 / +11.11%
Jan / 218,875 / 190,000 / +13.16%

*** 2000 *** 1999 *** Change
Dec / 230,000 / 197,500 / +14.94%
Nov / 210,000 / 191,000 / +9.95%
Oct / 203,850 / 189,890 / +7.96%
Sep / 202,000 / 194,000 / +3.09%
Aug / 214,997 / 207,750 / +3.49%
Jul / 213,000 / 209,000 / +1.87%
Jun / 218,000 / 209,000 / +3.83%
May / 212,700 / 193,700 / +9.68%
Apr / 197,000 / 192,000 / +1.56%
Mar / 195,000 / 189,000 / +5.24%
Feb / 198,000 / 184,900 / +8.17%
Jan / 190,000 / 190,000 / +0.00%

MRIS Statistics
Reply With Quote Quick reply to this message

 
Old 10-13-2008, 03:41 PM
 
Location: Springfield
2,765 posts, read 8,325,339 times
Reputation: 1114
How's the renting going?
Reply With Quote Quick reply to this message
 
Old 10-13-2008, 07:10 PM
 
4,709 posts, read 12,669,699 times
Reputation: 3814
YAYYYY....it's an exciting time to be alive, folks!

I dumped all my rentals during the bubble....and it's hard to resist not getting back into it now, but I think prices have a LONG way to go before they hit bottom. I did buy (steal) a property recently....but I'm thinking we'll see '80s home prices before it's over. Then, I'll get back into it in a BIG way. I actually miss those 3:00 am calls from tenants!

Oh, and the stock market! I have bought a TON of stock in the past week....great companies at prices not seen in YEARS. I'm having a ball....this stuff is way more fun than Vegas! (I hated to see that 900 point rally today, though)
Reply With Quote Quick reply to this message
 
Old 10-14-2008, 07:46 AM
 
523 posts, read 1,417,160 times
Reputation: 135
Quote:
Originally Posted by VRE332 View Post
How's the renting going?
It's great. I pay slightly less than $2000 per month for a home in a very nice neighborhood. Houses in this neighborhood have been sitting on the market for over a year with asking prices as high as $600k.

So I could buy a home in my neighborhood for ~$3500 per month or rent it for ~$2000 and save the rest. It's not a hard choice for me!

Last edited by mojo_1979; 10-14-2008 at 08:39 AM..
Reply With Quote Quick reply to this message
 
Old 10-15-2008, 06:45 PM
 
Location: Springfield
2,765 posts, read 8,325,339 times
Reputation: 1114
Quote:
Originally Posted by mojo_1979 View Post
It's great. I pay slightly less than $2000 per month for a home in a very nice neighborhood. Houses in this neighborhood have been sitting on the market for over a year with asking prices as high as $600k.

So I could buy a home in my neighborhood for ~$3500 per month or rent it for ~$2000 and save the rest. It's not a hard choice for me!

When you get to retirement age, how do you plan on paying rent? I figured out I could have enough cash to pay property taxes, and expenses, have a decent car
Reply With Quote Quick reply to this message
 
Old 10-20-2008, 08:34 AM
 
523 posts, read 1,417,160 times
Reputation: 135
Quote:
Originally Posted by VRE332 View Post
When you get to retirement age, how do you plan on paying rent? I figured out I could have enough cash to pay property taxes, and expenses, have a decent car
I'm not going to waste my time presenting the details of my investment portfolio to a stranger on a forum. But I will say this...

All of the extra money that I'm saving each month from renting is being saved and/or invested. I have a nice chunk of change already. Also, why do you assume I plan on renting for the rest of my life? I'm not yet 30 years old. I will buy within the next 3 years, after prices have finished (or nearly finished) their decline.

By waiting, there is ZERO risk of prices suddenly increasing right now. If I buy today however, I am guaranteed that my home will lose value. Ben Bernanke just told Congress this morning that we're in for a 'protracted slowdown' and that Congress should consider yet another economic stimulus package.

In summary, if by renting, my bank account steadily grows every month, and if I can buy the same exact house for possibly $100k less in 2 years, why on earth would I purchase today?
Reply With Quote Quick reply to this message
 
Old 10-20-2008, 09:38 AM
 
4,709 posts, read 12,669,699 times
Reputation: 3814
You have the right idea, mojo. Owning isn't all it's cracked up to be.

I think I'd be renting if I hadn't inherited my house (a unique property that WILL stay in the family)....it's a more free lifestyle not being tied down by a house, especially in this market. Plus I spend most of my free time on the boat dockside at the marina anyway.

Of course, I would still invest in real estate to make money even if I was renting my principal residence.

Did you see that article about Prince William real estate the other day? Investors are snapping up those $50K townhouses like crazy. I've been approached about joining a group that is investing in that....but I don't know if I want to be a slum lord at this stage in my life! LOL
Reply With Quote Quick reply to this message
 
Old 10-20-2008, 09:40 AM
 
Location: Bettendorf, IA
449 posts, read 1,393,428 times
Reputation: 211
Quote:
Originally Posted by mojo_1979 View Post
I'm not going to waste my time presenting the details of my investment portfolio to a stranger on a forum. But I will say this...

All of the extra money that I'm saving each month from renting is being saved and/or invested. I have a nice chunk of change already. Also, why do you assume I plan on renting for the rest of my life? I'm not yet 30 years old. I will buy within the next 3 years, after prices have finished (or nearly finished) their decline.

By waiting, there is ZERO risk of prices suddenly increasing right now. If I buy today however, I am guaranteed that my home will lose value. Ben Bernanke just told Congress this morning that we're in for a 'protracted slowdown' and that Congress should consider yet another economic stimulus package.

In summary, if by renting, my bank account steadily grows every month, and if I can buy the same exact house for possibly $100k less in 2 years, why on earth would I purchase today?
I think you are right. We bought a townhome in Cascades earlier this year. I wanted to wait and rent for a couple of years as I really think prices will continue to drop, but my wife wanted a home really bad. The place we bought was assessed two years earlier for $145K more than what we paid for it, but I bet the the place has lost another $30K since we bought it.
Reply With Quote Quick reply to this message
 
Old 10-20-2008, 09:51 AM
 
Location: Springfield
2,765 posts, read 8,325,339 times
Reputation: 1114
Quote:
Originally Posted by mojo_1979 View Post
I'm not going to waste my time presenting the details of my investment portfolio to a stranger on a forum. But I will say this...

All of the extra money that I'm saving each month from renting is being saved and/or invested. I have a nice chunk of change already. Also, why do you assume I plan on renting for the rest of my life? I'm not yet 30 years old. I will buy within the next 3 years, after prices have finished (or nearly finished) their decline.

By waiting, there is ZERO risk of prices suddenly increasing right now. If I buy today however, I am guaranteed that my home will lose value. Ben Bernanke just told Congress this morning that we're in for a 'protracted slowdown' and that Congress should consider yet another economic stimulus package.

In summary, if by renting, my bank account steadily grows every month, and if I can buy the same exact house for possibly $100k less in 2 years, why on earth would I purchase today?
What about the mortgage deduction savings?
Reply With Quote Quick reply to this message
 
Old 10-21-2008, 02:03 PM
 
523 posts, read 1,417,160 times
Reputation: 135
Quote:
Originally Posted by VRE332 View Post
What about the mortgage deduction savings?
You're joking right? Pay an extra $1500 per month (buy vs. rent) to "save" $500 a month on my taxes? No thanks.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Virginia > Northern Virginia

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top