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Cedar Lakes Homes Weekly Report 1/7/09-1/14/09


We are your Neighborhood Expert !

We had one Townhome sell this week. We still have 2 under contract. The numbers are below. It was a regular sale and sold for right around 400k. Which is pretty good sales price right now.

As of today (January 14, 2009 12 PM) there are 10 active homes in Cedar Lakes (+2 from last week) and 3 homes that are currently under contract and 1 homes that have sold in the last 30 days.

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

Condos- 6

Cedar Lakes A - 1 (1 regular sales)
Christopher at Cedar Lakes - 5 (2 short sales, 1 bank owned, 2 regular sale)

Townhomes- 3

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


According to MLS, there was 1 new listing this week.


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

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

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, 1 home has sold in the last 30 days .

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

List Price - $439,900
Sales Price - $409,900
Seller Subsidy - $10,000

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 December
2008 2007 % Change
Total Sold $ Volume $11,625,825 $14,391,987-19.2%
Avg. Sold Price$400,891 $423,294 -5.2%
Median Sold Price $319,900 $4410,000-21.9%
Total Units Sold 2934 -14.7%
Avg. Days on Market11289 25.8%
Avg. List Price for Solds: $461,292 $454,655 1.4%
Avg. Sale Price as a percentage of Avg. List Price: 86.91% 93.10%

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.


The one Townhome sold right at that magic number for Fairfax Townhomes right now. If you can stay right around 400k slightly below, you will have a much better chance of selling. The others that are under contract are short sales and those could take a little while longer.

Owners do not be discouraged if you are thinking about selling. If you have some equity built up and can sustain a little hit and are thinking of getting a single family home or moving closer to the city consider this.

If you were trying to sell your TH and you really would like to get 400k for it but you have to take a 20% cut because of the market. Well you can now sell it for 320k YIKES thats true but look at this. Your next purchase a couple years ago would of cost you 600k but now because of the market they are taking a 20% cut. So this means you are getting your next home for 480k. That is a 40k gap you saved !! 120 k vs 80k Not to mention interest rates are so much lower right now than a couple years ago. Now if the market was like it was 3 years ago you would be losing that 40k but in this market you are gaining. You can not sell high and buy low. It just is not possible.

If you are thinking about buying within the next 3 months. Contact us

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