Yesterday, we posted the Top 10 deals for all types of sales. Today, we're going to explore the foreclosure market, for a change. There were 4,309 home sales tagged as foreclosure on MRIS for DC region (DC-MD-VA).
STATS: Q2 Foreclosure
- 90% (3,894 homes) of foreclosures sales are homes under $400,000. The remainder 10% foreclosure sales is spread out on all price ranges up to the highest foreclosure home sold in second quarter at $3,695,000.
- Q1 to Q2 in 2009, foreclosure sales jumped 180% from 1,524 to 4,309 homes.
- Total number of foreclosure sales in 2008: 5,365 units.
So, if foreclosure sales goes like Q2 '09 pace, this year's sales will outweigh last year's sales by a big margin.
Only 13 units of million dollar homes sold in the second quarter. There's not a single dominant neighborhood in this category of luxury homes. As you probably guess, these homes are located in neighborhoods where you typically could find million dollar homes, like Potomac, MD, McLean, etc.
Here are the Top 10 Foreclosure Deals for DC region:
1. 9115 Fox Meadow Lane, Potomac, MD 20854
A 4BRs, 4 baths mansion sits on 3.8 ac. of lot over at Bradley Farms in Potomac. Originally listed for $4,795,000 and sold for $3,300,000.
2. 8636 Old Dominion Dr., McLean, VA 22102
A contemporary house has 5BRs, 6.5 baths, in a gated community of Alphonse J Audet in McLean. This house as an indoor pool. List price: $1,649,900. Sold: $1,425,000.
3. 11713 Centurion Way, Potomac, MD 20854
This house has 6 BRs, 6 baths and multiple balconies. It sits on a 2 acre lot over at Palatine hood in Potomac. You think because it's price in the millions, there's not multiple contracts on the table? Wrong. It got 15 offers. And sold price went above list. List price: $1,399,900. Sold: $1,500,000.
4. 1923 15th St. NW, Washington DC 20009
A row house that has been beautifully remodeled in Dupont Circle. It has 5 BRs, 3.5 baths and has a garage. (a rare thing here). List price: $1,349,000. Sold:$1,315,000.
5. 6240 Linway Terrace, McLean, VA 22101
A relatively new custom built home (built in 2004) that has 6 BRs, 6 baths and 2 half baths over at Chesterbrook hood in McLean. List price: $1,325,000. Sold: $1,276,000.
6. 3620 Stanford Ctr. Falls Church, VA 22041
7. 6616 Ladyslipper Lane, Clifton, VA 20124
Now this house is located outside the beltway in Clifton. A 2 level contemporary house with 5BRs, 5 baths that has 8,000 s.f. of living quarter. Home is modeled after Frank Lloyd Wright's design. List price: $1,249,000. Sold: $1,178,120.
8. 3109 Key Blvd., Arlington, VA 22201
9. 12515 Monterey Circle, Ft. Washington, MD 20744
This is a relatively new house. Built in 2006. It has 6BRs, 4.5baths near National Harbor. List price: $1,999,999. Sold: $1,100,000 + $60,000 seller's subsidy. The first time I saw a concession in multi-million dollar market.
10. 1376 Northwyck Ct., McLean, VA 22102
A colonial home located over at Spring Hill hood in McLean. It is a 3-level house with 4 BRs, 4.5baths and 2-car garage. List price: $1,164,888. Sold: $1,092,000 + $20,000 seller's subsidy (bank's concession).
(if the link above doesn't work, try this one.. )