Interested in getting a more in depth look at the market? Click on any of the pins below to get a quick glimpse of the real estate market for that area, and enter your name and email address to get a detailed report sent to you. Knowledge is power, right? Let me know if you have any questions once you review your report.

Cheers,
Heather

We are creeping toward July and the end of the spring/summer market. How is median home price holding up for Loudoun County? Looking first at single family homes, after the huge spike up in March and April, we have settled back down in the $550,000 range again; just slightly lower than where we were at this point in 2009, but up a bit from the beginning of 2010. The second chart covers both condo and townhome median price…we cab see the same jump up in March and April, but the adjustment down in May dropped us to a level that is still about $20,000 higher than where we were in July 2009. Keep in mind that these statistics are a county-wide snapshot, for statistics on specific towns, visit my other sites: Leesburg Market Stats, Ashburn Market Stats, or Western LoCo Market Stats. If you would like a neighborhood specific market report emailed to you, just click on Market Value at the top of the page.

Cheers,
Heather

So what’s been happening with the real estate market in Loudoun County since the tax credit expired April 30th? We saw a huge jump up in inventory right away…and now it appears to have calmed down a bit, and some of that inventory has been absorbed.

If you would like to know how the market is doing in your neighborhood, just fill out this short form and I’ll email you a report…

Cheers,
Heather

We are still in the swing of the busiest part of the year for real estate in Loudoun County, and our median price for both single family homes and the combined condo/townhome market appears to be stable again. We saw a momentary jump up in price driven by the low inventory and high demand as the first time homebuyer tax credit was ending, but the median price has settled back to the level it was at before. When you compare the median price in May 2009 to now, we are at basically the same place for single family homes, with a modest increase for condo/townhomes.

If you would like a market report tailored to your home and neighborhood, (or a home you are interested in buying)  just fill out this short form and I”ll email it to you.

Cheers,

Heather

The last time I looked at inventory levels in LoCo was on May 4th, right after the first time homebuyer tax credit ended, and found the HUGE jump in homes available for sale. Looking at what has happened since then, it appears to have leveled off a bit (and absorbed a tiny amount of the condo/townhome inventory).  Anyone that tells you they know for certain what will happen with our real estate market now, without the tax credit driving demand, is nuts. I’m in a holding pattern, watching the statistics to see what happens. For right now, I’m holding my breath.

Cheers,
Heather

(as usual, keep in mind that the condo line includes townhomes, too!)

If you are curious about how much your home (or a home you might want to buy) is worth, just fill out this form and I’ll email you a report with clickable links to comparable homes that are for sale or recently sold. Don’t worry, I won’t spam you…I hate spam just as much as you. =)

~ Heather

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Another byproduct of the first time homebuyer tax credit…a temporary upward blip in prices. Looks like the market has already corrected itself, huh? (Condo median price includes townhomes, too.)

Cheers,
Heather

Well, I’ve been really apprehensive of what our real estate market would look like in Loudoun County after the first time homebuyer tax credit expired. (which happened last Friday, so you can go ahead and exhale now)

Look at what our inventory levels did in the last couple of weeks…a lot of homes on the market all of a sudden. And apparently there wasn’t quite enough buyer demand to soak up all those homes. Of course, we’ll have to watch closely in the next few weeks to see if demand will pick up and these houses will go under contract. Otherwise days on market will increase and things will definitely have slowed down.

Cheers,
Heather

I thought it might be helpful to look at how the current market climate has affected median price in different towns across the county. The first chart shows single family home data, and the second shows the combined condo/townhome market.

Everything seemed pretty stable right up until the beginning of March, huh? I’m guessing that the last rush of contracts for folks taking advantage of the first time homebuyer tax credit is what has caused such dramatic change in pricing and inventory. Anyone that wants to use that credit has to be under contract by the end of April, so I expect that we will see prices flatten out again after that. I’m very curious to see if our sales volume will continue at a steady pace, or if it will be very quiet for a bit after that.

If you have any questions about how this may affect you or your home’s value, please don’t hesitate to reach out.

Cheers,
Heather

So if you want to take advantage of the first time homebuyer or move-up homebuyer tax credit by the contract deadline of April 30th? Looks like you are not alone…Here are the inventory numbers for all of Loudoun County. Keep in mind that the condo chart includes townhomes, too:

Not a whole lot to pick from, all of a sudden, huh? I just took a peek at the number of homes that went under contract in LoCo in the last 30 days… 613.  Which means we have about two months of inventory available at the rate at which they are going under contract. I have no idea (and am interested to see) what will happen after this month, when the tax credit is no longer affecting the market.

If you are thinking of selling this spring, I’d highly recommend getting on market this week: very little competition, and highly motivated buyers.  If you are looking to buy this month, make sure you are working with an agent that is getting new listings to you on a daily basis, so that you don’t miss out.

Cheers,

Heather