Penderbrook Square condos are part of Penderbrook, which is one of the most sought after condo communities in Fairfax. Below you’ll find all of the Penderbrook Square condos that are currently for sale. This blog post will also take a look at recent sales in this community, which will give you an idea of how much you should expect to pay for a property in this subdivision. If you’re stumbling across this analysis long after it was written, please rest assured that listings on my website are automatically updated daily, so you always have access to the most up-to-date listing information from the MRIS.
Penderbrook Square Condos for Sale
Specifically, this analysis will take a look at sales of 2 bedroom, 2 bath condos in Penderbrook Square over the past six months (this data was pulled from the MRIS):
- 12162 PENDERVIEW LN #1631 - closed at $245,000 in January
- 3903 PENDERVIEW DR #1528 - closed at $252,000 in January
- 12164 PENDERVIEW LN #1628 - closed at $250,000 in February
- 12160 PENDERVIEW TER #1131 - closed at $265,000 with a $1,000 subsidy in January
You’ll noticed that after taking into account seller subsidies, the closing prices ranged from $245,000 (this was another short sale that was originally priced at $234,900 and ended up closing at $245,000, which means that the seller’s lender probably demanded a higher price than what the property originally went under contract for) to $264,000.
At the time of this blog post, there is just one 2 bedroom, 2 bath condo on the market in Penderbrook Square, and it is a short sale listed at $240,000. I visited this short sale listing in purpose, and there’s no doubt that the Penderbrook Square condos that sold at the higher end of this price range over the past six months definitely showed better and were in better condition. This short sale listing needs a good amount of cosmetic work, so a price from $240,000 to $245,000 in this competitive spring market would be a fairer price anyway, even if it weren’t a short sale. Ideally, it would be nice to pay even less for a short sale because of how long you have to wait for a short sale to close. However, this is the only 2BR/2BA unit that’s currently on the market here, which adds value in the eyes of buyers. The present value of 2BR/2BA Penderbrook Square condos (standard sales) in today's market is probably closer to $257,000 - $270,000, assuming it's in above average to great shape, with a decent number of upgrades.
If you’re in the market for a Penderbrook Square condo, call me at 703-462-0700. I’m an experienced buyer agent who grew up in this area and knows the market here very well. I’m also a great negotiator who works hard to get my clients the best deal possible.
If you own a Penderbrook Square condo and would like to know approximately how much it’s worth in today’s market, call me for an over-the-phone, no obligation comparative market analysis.