Home > Burke Real Estate Market
Burke Local News

Real Estate News in Burke - July 21st, 2016
06/2016 Market Statistic Data from MRIS = Metropolitan Regional Information System.
Burke average detached = single family home sold price: $ 610,226 = =6.39 % increase YOY = year over year.
Burke average town home = attached home sold price: $ 390,472 = +6.43 % increase YOY.
Burke average condo sold price: $ 282,300 = +6.65 % increase YOY.
Average Days on Market: 18 vs. 24 a year ago = -25 % decrease YOY.
Average Sold Price to Original List Price: 99.1 % vs. 98.9 % a year ago = +0.26 % increase YOY.
Most homes sold in <10 days on market.
4 cash buyers, 43 conventional loans, 10 FHA loans, 23 VA loans.
Inventory: 84 active listings vs. 106 a year ago = -20.75 % decrease.
Pendings = Properties Under Contract: 103 vs. 92 = 11.96 %.
Please copy and paste link below in your browser to see detailed report for Burke.

http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=5&loc_id=22015&time_period=201606

News for Burke, VA - October 15th, 2015 12:15pm
09/2015 Market Statistic Data from MRIS = Metropolitan Regional Information System
Burke average detached = single family home sold price: $ 540,092 = -2.20 % decrease YOY = year over year.
Burke average town home = attached home sold price: $ 349,727 = -0.07 % decrease YOY.
Burke average condo sold price: $ 265,279 = -11.20 % decrease YOY.
Days on Market: 42 vs. 30 a year ago = +40.00 % increase YOY.
Average Sold Price to Original List Price: 97.9 % vs. 98.5 % a year ago = -0.67 % decrease YOY.
Most homes sold in <10 days on market.
1 cash buyers, 29 conventional loans, 6 FHA loans, 5 VA loans.
Inventory: 123 active listings vs. 126 a year ago = -2.38 % decrease.
Pendings = Properties Under Contract: 60 vs. 63 = -4.76 % decrease.

http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=7&loc_id=601708&time_period=201509

News for Burke, VA - March 20th, 2015 4:30pm
02/2015 Market Statistic Data from MRIS = Metropolitan Regional Information System

Burke average detached = single family home sold price: $ 562,161 = 6.91 % decrease YOY = year over year.
Burke average town home = attached home sold price: $ 372,275 = 6.32 % increase YOY.
Burke average condo 2/2015 sold price: $ 279,000 = 0.32 % increase.
Days on Market: 50 vs. 49 a year ago = 2.04 % increase
Average Sold Price to Original List Price: 98 % vs. 98.2 % a year ago = 0.26 % decrease
Most homes sold in 11-20 days on market.
3 cash buyers, 15 conventional loans, 6 FHA loans, 7 VA loans.
Inventory: 50 active listings vs. 55 a year ago = 9.09 % decrease.
Pendings = Properties Under Contract: 55 vs. 62 = 11.29 % decrease.

http://184.106.219.108/report/mls/1/drp?action=pdf&agg_type=MONTHLY&f_id=1000&loc_type=5&loc_id=22015&time_period=201502

News for Burke, VA - July 27th, 2014 12:19pm
Burke average detached = single family home sold price: $ 598,433 = 2.01 % increase YOY = year over year
Burke average town home = attached home sold price: $ 335,473 = 1.02 % increase YOY.
Burke average condo sold price: $ 261.626 = 12.02 % increase YOY.

Please copy and paste link below in your browser to see detailed report for Burke in Fairfax County, prepared 07/2014
http://184.106.219.108/report/mls/1/drp?action=pdf&agg_type=MONTHLY&f_id=1000&loc_type=5&loc_id=22015&time_period=201406
National Market Conditions
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

...Read Full Article
Fall 2017 Market Update
If you can qualify for a mortgage, now is a great time to buy a home in Burke. Interest rates are still low which makes a home purchase a great opportunity especially when considering the tax advantage a home owner might have. Interest rates are supposed to rise in 2016. Financing is still tight, best rates are available with a credit score of 740+. Why rent when you can buy for similar monthly payments? Call the local real estate expert Martina Burns now for more information at 703-650-8533 or toll free at 866-361-6655
Average Sold Home Price: $625,000

Average Time on Market: 10-30 days

Best Selling Price Range: $650,000 - $699,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Decreasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: No Change

Multiple Offers? Yes

Multiple Offers Commentary: Homes are still selling fast in prime locations but only for up-dated, mint, move-in condition homes, close to public transportation. Those homes are selling in < 10 days on market.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Very tight market

Housing Inventory Comments: 06/2016 Market Statistic Data from MRIS = Metropolitan Regional Information System. Burke average detached = single family home sold price: $ 610,226 = =6.39 % increase YOY = year over year. Burke average town home = attached home sold price: $ 390,472 = +6.43 % increase YOY. Burke average condo sold price: $ 282,300 = +6.65 % increase YOY. Average Days on Market: 18 vs. 24 a year ago = -25 % decrease YOY. Average Sold Price to Original List Price: 99.1 % vs. 98.9 % a year ago = +0.26 % increase YOY. Most homes sold in <10 days on market. 4 cash buyers, 43 conventional loans, 10 FHA loans, 23 VA loans. Inventory: 84 active listings vs. 106 a year ago = -20.75 % decrease. Pendings = Properties Under Contract: 103 vs. 92 = 11.96 % http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=5&loc_id=22015&time_period=201606 Please note the statistic below is for single family homes, 4 bed rooms or more, only!

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Washington DC

Housing Hot Spots: Everything inside the Beltway or within 5 miles and close to Metro or VRE.

Contact Information
Martina Burns RE/MAX
703-650-8533
Email Me
Receive New Listings by Email
Search for Homes
Property Type
Minimum Price
Maximum Price
Bedrooms
Bathrooms
Mortgage Rates for Nov 24th, 2017
30 year fixed rate: 3.82%
15 year fixed rate: 3.16%
30 year jumbo rate: 4.13%
15 year jumbo rate: 3.87%
Check your Home's Value
Your Street Address
Your Zip Code
Real Estate Professional, Martina Burns  RE/MAX Martina Burns RE/MAX
RE/MAX Allegiance
Specializing in Burke Real Estate
6084-A Franconia Road
Alexandria, Virginia 22310
703-650-8533
Email Me | Receive New Listings by Email
Brokerage Logo of RE/MAX Allegiance
(Because current market conditions can change rapidly in any given marketplace,
please check with Martina Burns RE/MAX for current Burke, VA market conditions before acting on this information.)
Homes for Sale by HouseHunt.com  Your #1 resource for finding Homes for Sale, How Much My Home is Worth, Community Information and Real Estate Agents!
© Copyright 1995-2017 HouseHunt Inc - All Rights Reserved