Smart Charts is a feature (service) offered by Mris Matrix, the local MLS that realtors subscribe to.
The value in the Smart Charts is that the sales data in MLS is tracked, analyzed and presented in the form of charts and graphs. This data is used by homeowners, professional realtors, appraisers and so forth to gain an understanding of our current real estate market.
These charts aid in compiling real estate appraisals, setting listing prices by homeowners and realtors and guiding buyers in their asking prices.
One can find a peek into the local 22182 market here.
One can see that new listings are up from the previous year (January 2014) by 36.8%. New pendings (those properties that are currently under contract with a buyer) are the same as last year (January 2014). There were 42.1 % fewer sales than last month than in January 2014. Some of the decrease can be attributed to the cold weather.
The chart goes on to say that the median price sold is $819,000. Now, keep in mind, this figure encompasses all sales in 22182 (i.e. condominiums, townhomes and single family homes). The median price sold is $890,450 for single detached homes. Quite a difference....
Remember, also, that there are a variety of single family homes in 22182. There are properties built from the 1960's to new construction today. Most new, single family homes in Vienna are priced $1,299,000 and above. They are state of the art construction with energy efficient appliances and HVAC systems. There is quite a variety to choose from!
I hope you enjoy the chart. Call me directly with questions pertaining to this chart.
I will post the chart for Fairfax County tomorrow.
Call me today with real estate questions. It is never to early to start planning your home sale/purchase.