Are you thinking about selling this spring? Or do you just want to make sure that your new property tax assessment matches up with market value? This should help: here’s the data for single family homes in Loudoun. If you want information targeted directly to your home and neighborhood, click here to schedule a consultation or sign up for an emailed market report.

All charts show data for single family homes:

Sterling Single Family Homes

Ashburn Single Family Homes

Leesburg Single Family Homes

Purcellville Single Family Homes

Cheers,
Heather

I’ve been reading a number of articles in the last few weeks saying the 2012 real estate market is ready for a rebound and thought it was worth a look. Although the LoCo market has not been as adversely affected as others, the numbers do suggest things are on the upswing. Compared to last December, median prices are up 7% on single family homes and 23% on condos/townhomes! As of this post, there are 951 active listings (excluding new construction) in Loudoun County and 332 homes have gone under contract in the last 30 days. That equates to 2.9 months of inventory at the current sales pace. We also see average days on market is about two weeks less than this time last year. These statistics lend credence to what we are hearing from national outlets, but the most important question is what does this mean to you. Click here to send us your question and we can help with the answer.

Cheers,
Mike

A year ago we took a look at the median price per square foot for Loudoun County. At that time the price per square foot was $160, and as we see below the price of owning one square foot in LoCo has jumped to $190. It bears mentioning you must always factor in age, updates, amenities and of course location when considering what this may mean for your specific home. 

A year ago, Sterling led the way at $165 per square foot, and has since increased by $2 but fallen to the bottom of the chart this year. Ashburn tops the chart this fall going from $159 to $196, followed by Leesburg jumping up from $149 to $189, and Purcellville from $153 to $180. These figures seem to make sense when you consider the reduced number of short sales and foreclosures over the past year.

Interested in what this means for you? Contact us and we would be happy to help you assess your needs and develop a plan of action.

Cheers,
Mike

Ashburn continues to lead LoCo in median price for single family homes, despite dropping 5% in the last two months. Combined condo and townhome values are up 3% over the same span, bringing them to a two year high.

Inventory, which had been on the rise for the last 12 months, seems to be leveling off.

Considering that the inventory has doubled, days on market for single family homes equaling last September is a good sign. Condos and townhomes are taking a little longer to sell, but median sales price has increased.

Curious about how this affects the value of your home, contact us.

Cheers,
Mike

The weather’s hot, and so is the real estate market in Loudoun County, especially in the under $400,000 price range….Even though inventory has risen (thankfully, it was low), median price is steady and days on market has dropped. I’ve been unseasonably busy the last few weeks, and the data matches up.  Days on market is lower because the homes are going under contract more quickly, as buyer demand has been steady. Median price is even up a bit for all home types since April. Questions? Just ask!

Cheers,
Heather

So it’s mid-May and the inventory still feels low to me; thought it would be worthwhile to look at where our inventory levels really sit for Loudoun. As always, keep in mind the condo line includes townhomes as well…

Looking from the first of the year forward, it doesn’t look like we’ve gained much inventory in either section of the market. This is surprising, given that this is seasonally the busiest point of the year. Disregarding the blip in my statistics from last summer, we’ve seen a moderate increase over the winter, but stability since then. While this is a county-wide overview, let’s look at how some of the towns are performing:

Cheers,
Heather

Let’s take a really good look at the state of the real estate market for single family homes in Ashburn, now that it’s mid April, and the market is decently busy for spring. Here’s what the charts look like:

So, what does this mean? Median price looks like it’s moving around a lot, but that’s not truly representative: it’s up roughly 2% since January, so all of that wiggling up and down isn’t significant, from a statistical standpoint. As a homeowner, that 2% difference means about $12,000 on a $587,000 home, though, which is nothing to sneeze at.  Inventory, meanwhile, is up 30% since October, but only up 15% since January. Inventory still feels light to me, so I’m not sure if the new construction listings are what is swaying that trend line upwards. Average days on market have started to drop recently, but are up about 10% from where we were this time last year. (not that anyone is complaining with an under three month marketing period to get their home sold, 122 average days on market is good from a seller’s perspective). Finally, average price per square foot started trending up in September after holding fairly steady for the year and a half prior.

That’s it, in a nutshell. If you are thinking about buying or selling in this spring market, certainly get more detailed information that is specific to your situation. And of course, if you aren’t working with an agent and would like my help, please reach out.

Cheers,
Heather

(and photo credit goes to my Mom and Dad, their lovely flowers are at the top of the post)

The question I get asked on a daily basis… “How’s the market?” Here’s some charts that will tell you exactly how the market is doing for single family homes in Ashburn, Sterling, and Leesburg. Pop in tomorrow and I’ll update you on condos and townhomes then.

Ashburn Single Family Homes

Sterling Single Family Homes

Leesburg Single Family Homes

Thinking of listing your home for sale and want more detailed information? Get a clickable market report tailored to your home address, emailed to you.

Cheers,

Heather

Well, we’ve had one day of warm weather, at least…did it get you thinking about the spring real estate market at all? Getting an itch to buy and/or sell? When we start seeing some warm days is when we start to see listings hitting the market in Loudoun…typically. Now is a great time to have a look at what the market is doing before things start to get interesting… Here’s what inventory levels look like right now for the two Ashburn zip codes. Keep in mind, as always, that the condo numbers also include the townhome market.

Now, I realize that looks like a huge jump up in homes available, but keep in mind this includes new construction, too (which sometimes represents each model available rather than a specific homesite).  And there is probably a segment of homes that didn’t sell in 2010 who re-listed after the holidays and the turn of the new year. I’m hoping these numbers go up a little…while I’ve been out showing homes, there aren’t a lot of homes to pick from in certain price ranges.

Here’s a map of the homes for sale in Ashburn right now (all home types):

Please call, email, or text me if I can help you with real estate questions or needs. It’s what I do.

Cheers,
Heather

I posted last week on LoCo Musings and LoCo Market Stats analyzing how much of our active real estate market in Loudoun is currently made up of ‘distressed’ sales, meaning short sales or foreclosures. What I found is that it varies depending where in the county you are, and also what home type you are looking at. Here’s the overall picture for the county:

Easy to see that the vast majority of listings are not distressed properties, with 74% considered ‘normal’, or traditional, listings. (Here’s a post I wrote explaining the difference between short sales and foreclosures.) So, here’s how it looks for active listings in Ashburn:

Well, the percentage of foreclosures is the same, but there are more short sales in Ashburn. Let’s break that down by property type and see how that looks:

Single family (‘detached’) homes are faring better than other home types, with only 21% short sales and 2% foreclosure (which is closer to the county percentage of short sales, but well under the foreclosure percentage). The townhome market has more short sales and foreclosures, leaving only 65% of sales as ‘normal’, although the real difference is with the condo market, where a full 50% of listings in Ashburn are either short sales (35%) or foreclosure (15%).

Would you like to know how this specifically affects a particular neighborhood? Please fill out a quick form with a few property details and I can give you very detailed statistics.

Cheers,
Heather