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Cedar Lakes Homes Weekly Report 12/31/08-1/06/09


We are your Neighborhood Expert !

I hope everyone had a great Holidays with Family and Friends. I got a chance to go to New York City right before Christmas. It was great to see the city all decked out. It snowed all day Saturday but then rained all day Sunday. But we still had a good time.

With the holidays the last couple weeks there was not much movement at Cedar Lakes.

As of today (January 6, 2009 10 AM) there are 9 active homes in Cedar Lakes (+2 from last week) and 4 homes that are currently under contract and 0 homes that have sold in the last 30 days.

Here’s the breakdown of all active listings in MLS:

Condos- 5

Cedar Lakes A - 1 (1 regular sales)
Christopher at Cedar Lakes - 4 (2 short sales, 1 bank owned, 1 regular sale)

Townhomes- 3

Carr at Cedar Lakes - 3 (2 regular sales, 1 bank owned)

Single Family Homes - 1

Carr at Cedar Lakes - 1 (1 bank owned)


According to MLS, there was 2 new listing this week.


According to MLS, there are 3 townhomes (2 short sale, 1 regular sale) and 1 condos under contract (1 short sale)

4368 Sutler Hill Sq - (158 DOMP) TH 3bd/4ba

12406 Cedar Lakes Dr - (85 DOMP) TH 3bd/3ba

12437 ERICA HILL LN - (90 DOMP) TH - 4bd/3ba

12461 HAYES CT #203 - (41 DOMP) Condo 2bd/2ba

I will have the final numbers for these once they close


According to MLS, 0 home has sold in the last 30 days .

Sold More Than 30 days ago

-12491 Hayes Ct #202 - (23 DOMP) Condo 2bd/2ba Regular Sale

List Price -$279,500 / Close Price -$255,00 / Seller Subsidy - 0

-4338 THOMAS BRIGADE LN - 16 (DOMP) TH - 4bd/3ba Regular Sale

List Price - $399,900 / Close Price - $390,000 / Seller Subsidy -$11,700

-4256 Wheeled Caisson Sq - (12 DOMP) TH 3bd/3ba Bank Owned

List Price -$279,900 / Close Price -$279,000 / Seller Subsidy -$0

-4310R CANNON RIDGE CT #90 - (218 DOMP) Condo 2bd/2ba Regular Sale

List Price - 375,000 / Sales Price - 345,000 / Seller Subisdy - 0


These stats are for all real estate in the 22033 zip code for the Month of November
2008 2007 % Change
Total Sold $ Volume $11,624,023 $19,439,225-40.2%
Avg. Sold Price$387,467 $431,983 -10.3%
Median Sold Price $362,500 $420,000-13.7%
Total Units Sold 3045 -33.3%
Avg. Days on Market7069 -1.4%
Avg. List Price for Solds: $407,368 $466,933 -12.8%
Avg. Sale Price as a percentage of Avg. List Price: 95.11% 92.51%

Fairfax Condos Sold for 2007 vs. 2008

Fairfax Townhomes Sold for 2007 vs 2008


There has been 1 listings that have been taken off the market in the last 30 days.


There are currently 3 townhomes and 6 condos for rent

1 townhome has been rented out in the past month.

If you need any help finding a rental or listing your condo for rent, please contact us.

We will take care of all the work for you and do background checks on the applicants to make sure they are qualified.


3 of the 4 homes that are under contract and that have been under contract for over a month are short sales. These can take a little bit longer. We have a great short sale team in place if you are thinking about selling but know that your are home is worth less than what the market would sell it for. Email us to find out if we can assist you.

The main reason nothing is selling here at Cedar Lakes is because 1 - Price. The few regular sales that are here are overpriced for this market and will continue to sit. 2 - Short sales. There are a couple great deals out there for the short sales but buyers are being reluctant to want to wait that long.

The older condos at Cedar Lakes are selling ok. Most of these owners have some equity and can take a small hit in selling. Especially because they will make this up in buying their next home at alot lower price. Equity will build up faster in this new home because more than likely it will not be a condo but a townhome which appreciates better.

We would be honorerd to work with you to buy or sell your home. Any questions at all, don't hesitate to ask.

Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.