Lillian Court Real Estate Re-cap (July 2009)

In Lillian Court, the tysons corner condominium community directly next to the Tysons Galleria mall, there was one property sold in July 2009. This property sold for $330,000 when asking $349,000. There was no seller contribution to the buyer's closing costs. The property was on the market 15 days. It was not a short sale, foreclosure, or bank owned property. The property sold with an average of $346.27 per square foot. It was a 2 bedroom 2 bathroom "Michael" model in building 1625.

This compared favorably to the same month last year, July 2008, when there were no (zero = 0) properties sold.

In July there were 3 properties rented in Lillian Court in Tysons Corner. They ranged from a 1 bedroom 1 bathroom home for $1,400/month in rent to a 2 bedroom 2 bathroom home for $1,800 in rent. These same properties were on the market from 8 days to 79 days.

Right now there are 5 properties "on the market," in Lillian Court. 3 of these are for rent, and the other 2 are for sale. Here's a visual =

Data from MRIS

2 Sold in June @ Lillian Court (Monthly Tysons Corner Sales Report + More)

Well the title tells the first part of this real estate tale. In June 2 homes were sold. On June 5th a 1 bedroom 1 bathroom, Lauren model, was sold for $245,000. It had been on the market 46 days, and had been asking $255,000. It sold for 96% of asking price, and $325/square foot.



The other property sold was not a similar model. It was a 2 level, 2 bedroom and 2 bathroom Stephanie model. This home sold in a time of 23 days on the market for $365,000. It had been listed at an asking price of $416,000. It sold for 87% of asking price, and $341/square foot. This property was officially sold and settled on June 25th.



Year over year sales comparison shows that this is a 100% improvement over same month sales, June 2008, when there was only one sale. In this period last year that property sold at a price per square foot of $359. Whereas the 2 properties sold in June of 2009 averaged a price per square foot of $334. This is a 7% decline from 2008 to 2009. Some would certainly argue that sampling size is hardly enough to generalize for an entire community.



There is now one property under contract in this centrally located Tysons Corner Condominium community. It is a 2 bedroom and 2 bathroom, on one level, Michael model. At time of contract the asking price was $349,900.



There are now 5 available properties for sale in Lillian Court. They are priced as low as a $229,000 potential short sale, 1 bedroom 1 bathroom, to as high as a $449,900, 2 bedroom 2.5 bathroom townhome style home. You can see more information below.

Data from MRIS

Lillian Court May 2009 Recap

In May 2009, there were 2 properties that SOLD in the Lillian Court Community. This seems on par with many others in the Tysons Corner area. Both were 1 level 2 bedroom 2 bathroom style properties. They sold for an average price per square foot of $319.62. See the data below.

The 2 sales in MAy 2009 were double the settled sales in MAy 2008 (1).

Currently there are 3 different properties available for sale in Lillian Court. All 3 are a differenty style/floor plan. The first is a 2 level 2 bedroom 2 bathroom townhome style property, asking $449,500, and on the market for 81 days. The second is a 2 level 2 bedroom 2 bathroom, condo style property asking $422,900, and on the market for 14 days. The last is a 1 level 2 bedroom 2 bathroom, condo style property, asking $340,000, and on the market for 9 days.

There are also 2 properties currently under contract in Lillian Court. The first is a 1 level 1 bedroom 1 bathroom property that was asking $255,000 when it wend under contract. The second is a 2 level 2 bedroom 2 bathroom property that was asking $416,000 when it went under contract.

The rental market is in need of a demand pick up as it has 6 units on the market for rent, and only 1 that rented all of May 2009.

April 2009 - Sold in Lillian Ct

1641 International Dr #416 was the only property SOLD in April 2009. It is/was a Jaclyn model. Which is a 2 bedroom 2 bathroom with 1114 square feet. It was asking $387,500, and it ended up selling for a price of $350,000 with no seller subsidy. The property sold in 71 days on the market.

Last year in the same month, April 2008, there were zero (0) properties sold.

2 properties available for sale in Lillian Court right now. Both are 2 bedroom, and both are multi-level style properties. One is a townhouse style, and one is a top floor 2 level within the condo building.

data from MRIS

Metro Full Funding Approved!

Today I, along with many others probably, received the below letter =

"March 10, 2009

Today, the Chairman of the Airports Authority Board of Directors, H.R. Crawford, signed a Full Funding Grant Agreement for the Dulles Metrorail Extension. In a ceremony with the U.S. Secretary of Transportation Ray LaHood, Chairman Crawford noted that this grant in the amount of $900 million will enable the Airports Authority to begin the long-awaited construction of the Dulles Metrorail Extension.As you know, achieving this milestone is the culmination of years of planning and public process that has involved many individuals from our state and local governments, the business community, and our elected officials.Our local project partners, the Commonwealth of Virginia, Fairfax County, Loudoun County, the Town of Herndon and the Washington Metropolitan Area Transit Authority are committed to bringing major transportation and economic benefits to the Dulles Corridor and to our Washington Metropolitan Region.I want to thank you for your strong commitment to bringing rail to the Dulles Corridor and all your efforts in this cause. Without your support, particularly in recent years, this day would not have come.The Airports Authority looks forward to continuing our partnership and excellent working relationship with you as we move forward on the Project. We are ready to go to work and we will continue to look for your involvement.We hope you will be able to join us later this spring when we have a kick-off event to celebrate the long awaited start of construction.

Sincerely,

James E. BennettPresident and CEOMetropolitan Washington Airports Authority"

1 property Sold in February 2009

Lillian Court had one property sold in February 2009. It was an Eden model with 848 square feet. The property was listed at $280,000. It was on the market for 68 days, and sold for $262,000. This was a bank owned property.

So far, for the closed months of January and February 2009, this is the only property SOLD in Lillian Court. In looking to past years the one property sold in February 2009 is exactly the amount of settled transactions that occured for the same month (February) in 2008.

For the same period of time, there have been 4 properties that have rented.

There are another 4 still available for rent on the active market, and there are 2 properties currently available for sale/purchase.

(data from MRIS)

Lillian Court - December 2008 in Review

December is always a fun month in general. Lots of Holidays, and the coming of the new year. This year was no different. However, all those things are independant of real estate.

In the Lillian Court neighborhood in December there was 1 property SOLD, and 4 properties RENTED.

The only SOLD property of the month was a 2 bedroom 2 bathroom 1002 square foot Jacob model. It SOLD for $370,000. The property was on the market for 30 days. When first going on the market it had been available simultaneously for RENT or for SALE. It SOLD for 92.5% of it's original list price.

Of the 4 properties RENTED in December 2008, 3 were 1 bedrooms, and the other was a 2 bedroom 2 bathroom.
The 1 bedrooms rented for an average of $1358/month. With the high rent being $1425/month for a larger model (988 sqft) and the low, $1300/month, going for a smaller model (753 sqft). The 1 bedrooms were on the market an average of 55 days.
The 2 bedroom 2 bathroom, on 2 levels, rented for $1790 in 70 days.

(data from MRIS)