Loudoun County March 09 Home Sales Stats
To understand statistics you need to view them for an extended amount of time…. I am not convinced that 4 months is enough so you can view other periods by clicking the market stats link on the right…
- Two reasons sales are down… A- There are fewer homes available. B- Many that are under contract are short sales that take longer to close (hence the large number of pending sales that seem to be piling up every month).
- Days On Market- This is a deceiving number. If you removed the short sales that are actually under contract and the new construction listings that don’t change status, I believe you would notice that homes are typically selling in an average of 40 days (I made up this number but I consider it relatively conservative).
- Active Listings- Just so you realize how low the inventory currently is…. last year in March there were 3,427 homes on the market.
Loudoun Sights And Sounds… Loudoun One/ World Trade Center
What It Takes To Win A Foreclosure…
Dear All,
I understand the need to optimistic. The washington area is recession proof. This is just a dip. The fundamentals are sound. The short sales are distorting the numbers.
Maybe, just maybe,,,,, this is just the start of a slide, the washington area is the last to go. This is a big….as in big correction. And, short sales are the norm.
Just a thought.
Hi John
I appreciate you taking the time to comment. The goal of this article is not to create false hope. If you follow the numbers for the DC area you will see that we have taken a hit.
There is strength in our local economy that is not in other areas. As someone who does follow our local numbers, I understand that our area is showing signs of recovery and short sales are not the norm. I encourage you go back and view the numbers throughout the past year. You will quickly learn that what you hear on the news is not the reality of what is truly taking place locally.
I’ve heard the Washington area is one of the few areas that is still seeing job growth due to government expansion, is that true? Interested to know: Utah is one of the rare places where jobs haven’t been absolutely annihilated and I wonder where else is like that.