Is Amazon affecting DMV home values yet?

Is Amazon affecting DMV home values yet?



what's up everybody Allen Johnson with the AJ team here forgive my attire I'm going to play golf today finally it's been a long couple of weeks I think we put man howard past week five homes on the market so um your friendly realtor needs a break and some R&R as well so I'm gonna go out to ol Hickory around the corner and hit some golf balls but I want to show you something so everyone's been we've been getting a quest on a lot of questions from people about what Amazon affect my home value so I want to just show you guys something because I've been talking about this for probably the better part of 18 months and everyone has their opinions but I believe that the data will truly show us what's happening so all right so let's look at greater but well you know what let's look first let me explain this so a smart chart so smart charts are what we use to basically look at real estate data so we're looking at real estate data we really would just want to see numbers and we really want to compare it so you don't want to use it in a use the data in a vacuum you want to use it in comparison to some other locations just to give you a little bit of a just a little bit of perspective so this is what we use may stats are out so remember the news of Amazon broke probably about what three months ago so we're really settled in and you know people real estate reacts on news right so the news of Amazon will affect the market more than the actual moving here of Amazon so if you guys follow so all right so Prince Wayne County let me margin is a Bicks I have old eyes so greater Prince William County in the month of May has had some pretty good growth so we're close to four percent in growth in Prince Wayne County which is good right so if you think about your average sold price gone up by four percent from this made to last May and the average sold price being you know let's say for 20 that's pretty great that's pretty good growth that's almost worth $7,500 almost $8,000 that you've gotten in in equity so what we also seen here units so gone up by 10% good thing this is also pushed by a lot of new development in the in the area as well and then what you'll see here is what I think most sellers need to realize we are in probably the last part of a hyper seller's market the markets moving more towards a balanced market where active listings are down almost 20% so the number of homes in 2018 versus this month 2019 have gone down by almost 17 percent so if you're thinking about selling your home that's the type of atmosphere that you want to sell and especially if you want to get all the money okay so let's take a peek at what's next let's take a peek at Arlington so we will type and I think I actually brought it up oh okay so let's let's take a peek at Lakeridge first all right so greater Lakeridge so greater Lakeridge hasn't seen the growth that the larger Princeton County County have seen has seen so average sold price less than 1% look at that units sold in Lakeridge down by 17% so if you compare May – May down by 17% and look at this active listings are up by almost 8% so when we talk about real estate being a hyperlocal market even in a county it's very important for your agent to start to look at different locations and how they're performing because it really will affect what's going on now so we looked at Prince William County remember and we looked at Lakeridge so how will Amazon effect the local market look at this Arlington 2019 so May of 2019 versus May 2018 look at us almost 7% increase in average sold price and for the first time Arlington average sold price is well over 700,000 right now look at this number active listings are down almost 50% in Arlington it's the same thing that's happening in Alexandria so if I pulled Alexandria I guarantee the numbers are going to be the same so when people ask me what's hat will Amazon effect Lakeridge it's not it's the numbers are have already proven it but what it will effect is this little bubble where Amazon headquarters is going to be located which is that Crystal City corridor which encompasses Arlington and Alexandria that area will be affected but if you are waiting for Amazon to affect your home value in in Lakeridge it's not going to happen the numbers have the numbers the numbers will show us the numbers are already telling us like look so I've been telling people in Lake Ranch I feel like that over the next two to three years we're not going to see the growth that we saw over the past three to five years so if you're thinking about selling you are if we are not at the top of the market we are dangerously close to the top of the market not saying that our market will crash because Lakeridge is not a market even back in 2008 it didn't get a it got affected but it didn't get affected like Dale City you didn't get effect it like Dumfries we're in a market that's very safe and Lakeridge but also these are things that you guys just need to understand so if you want me to deep dive in the numbers a little bit more reach out to us I'm Alan Johnson you have the dream we have the address I'm going to get out here and get a little bit of relaxation up actually I don't know if Golf is really relaxation I kind of I kind of like to like to excel at that as well but you have the dream we have the address and we'll see you soon bye

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