Are housing prices back to '03 yet? (Manassas, Vienna: cul-de-sac, showing)

[El General]

Prices are declining as they retrace huge gains from 01-05. But my question is just how far back have they gone. I would say, here in Manasass, it is about February 2004--and rapidly moving backwards. What "date" is it in your neighborhood? I would appreciate your thoughts.

[goldenmom7500]

Hmm, we had someone buy on our Manassas cul-de-sac in late 2004 for more than anyone could get right now, but not by much. So I'd say mid-2004. (This is one of those new large homes on acreage, etc.)

[itrade]

It all depends on where you are. We bought in April 2004 for 485,000 and a similar house just sold last month for 685,000. Still up 40 percent in three years...

[goldenmom7500]

So where *are* you?

[itrade]

Vienna - just outside the town limit.

[El General]

Are you sure you're in Vienna, and not Fantasyland? The numbers from Sunday's Post:

ZIP****2006*****2007****Change
22180 625,000 575,000 -50,000
22181 675,000 640,000 -35,000
22182 772,500 724,000 -48,500

Keep in mind, these numbers do not include the accelerated declines taking place since June.

[goldenmom7500]

Originally Posted by El General

Are you sure you're in Vienna, and not Fantasyland? The numbers from Sunday's Post:

ZIP****2006*****2007****Change
22180 625,000 575,000 -50,000
22181 675,000 640,000 -35,000
22182 772,500 724,000 -48,500

Keep in mind, these numbers do not include the accelerated declines taking place since June.

I can't comment on your numbers per se, but if housing values are declining, then people are going to work very hard to find neighborhoods that will hold their value, so some neighborhoods could actually increase. This is happening in the city where I have recently moved - in the older, established neighborhoods near the university (the most desirable place to live overall), prices are actually up 10% in the last 4 months.

[saganista]

I didn't see those numbers either, and the Sunday Post is already recycled. But The Post's online database shows the following average sales prices for homes sold in June 2007...

22180 = $710K ... 22181 = $1045K ... 22182 = $1430K

The same data for June 2006 were...

22180 = $710K ... 22181 = $1020K ... 22182 = $1120K

[itrade]

Originally Posted by El General

Are you sure you're in Vienna, and not Fantasyland? The numbers from Sunday's Post:

ZIP****2006*****2007****Change
22180 625,000 575,000 -50,000
22181 675,000 640,000 -35,000
22182 772,500 724,000 -48,500

Keep in mind, these numbers do not include the accelerated declines taking place since June.

You're showing a one year change on averages prices for the entire zipcode. Pick the number from 2004 and then compare that number to 2007 - you'll see that prices are still up in Vienna over 2004.

My values are based on what I actually paid for my home (I think I would know what I paid for it), and the price on what I know what a neighbor sold his house (comparable tom mine) for.

Sorry your experience hasn't been so rosy...

[goldenmom7500]

Yes, El General, remember to be nice, people know their own neighborhoods!