The Annual Decline Has Begun…
October 11th, 2010 Categories: Market Statistics
Happy Columbus Day!
Stats show that home sales typically begin to decline annually in the fall. Nevertheless, it is always painful. While this presents a great opportunity for buyers, sellers must decide if they are going to dig their heals in until the spring or take a temporary loss when selling. Lets take a look at Loudoun County September numbers…
A couple of noticeable differances in August..
- Median prices are down slightly.
- Average days on market have increased by almost 8%.
- Average sold price compared to list price ratios have decreased… This speaks to buyers having more of an edge in negotiations than the month before. Currently, the average home sales for around 5% less than asking price.
For the full Loudoun County Sale report click the market stats button on the right!
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Sales Appear Stable In Loudoun
June 15th, 2010 Categories: Market Statistics
One of the best tools on this site is the market statistics button provided to you monthly for Loudoun County. After reviewing this months numbers I am optimistic regarding where we currently are post tax credit.
- There were more homes sold in May than in the last 9 months.
- Average Days on Market is the lowest it has been since 2005!
- The Average Sales Price compared to List Price is remaining above 95% for the last 2 months.
- Fewer listings went on the market the last 2 months than in May.
What to pay attention too… There were only 455 homes that went under contract in May. This could lead to a low absorption rate over the next couple of months.
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Housing Inventory Is Climbing
May 11th, 2010 Categories: Market Statistics
For the last six months we have had very few homes on the market for sale. This was creating a great scenario for sellers as the demand was high and supply was low. The tides are beginning to turn.
From February to April we have seen a 91% increase in inventory in Loudoun. While this was needed, the next few months will show us the results of a market lacking the push of government incentives like the 8k tax credit.
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Loudoun’s Numbers Are Looking Flat
March 16th, 2010 Categories: Market Statistics
For the second month in a row we have seen the amount of homes sold remain low in Loudoun. I have been in the market. There appears to still be a lot of activity. I am still seeing multiple offers on homes. Do you think we should be worried?
There are still a lot of homes under contract… They are simply taking forever to settle. In my opinion, these stats reveal the amount of homes under contract on short sales or new construction. These transactions take a while to settle while a typical transaction only takes 20-45 days.
Check out all of the latest stats and graphs here….
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Is Loudoun Real Estate Slowing Down?
February 17th, 2010 Categories: Market Statistics
Just when it looks like the train is headed back up the hill… January hits and we are seeing numbers that we haven’t seen in a while. Loudoun’s days on market have increased, sales are a down a bit, and we begin to question if we have been over optimistic.
These stats show a around 40% drop in home sales from December of 2009 to January of 2010!
What Does This Mean?
Truthfully, I am not sure that it means anything at this time. There are more homes under contract this January than there were in December meaning there are going to be homes selling soon. In other words, I think we are simply looking at the normal market trends we see every year around this time. From December 2008 to January 2009 we saw around a 27% drop.
Therefore, unless this trend continues for the next few months don’t freak out! You can’t judge numbers over a month to month basis. You need a larger span of time. It will be interesting to see what happens as the tax credits expire and mortgage insurance premiums increase over the next couple months…
CLICK To See All Of This Months Market Stat Updates
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