Nate & The 12:45 Team Did It Again
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Monday, October 27, 2008

Gates of Fair Lakes Condo Weekly Update 10/20/08-10/26/08

INTRODUCTION

As of today (October 27, 2008 10 AM, there are 5 active listings in MLS and 1 condo that is currently under contract.

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

4 - 2 bedroom units
1 - 3 bedroom unit


NEW LISTINGS

According to MLS, there was 0 new listing this week.


UNDER CONTRACT

According to MLS, there is 1 condo under contract, this is a short sale.

12902 FAIR BRIAR LN #12902, FAIRFAX, VA 22033 - 215 Days On The Market (DOMP) (2 bedroom)


I will have the final numbers for this once it closes, if it closes.


SOLD

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



Fairfax Condos Sold for 2007 vs. 2008






RENTALS

There are currently 2 condos for rent

0 condos have been rented out in the past month.

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


OBSERVATIONS

It looks as if all the current active condos are all regualar sales instead of a bank owned or short sale.
The average days on the market for these is 131. This tells us that owners are being relectant to drop their price to the current market level. So they are continuing to stay on the market. 2 of these had contracts fall through and are back on market and we will keep an eye on these to see how that affected them.
Check back next week for more information on your community.




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



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