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

It’s been a while since we have looked at Western LoCo and things appear to be holding steady over the last year. The median price of a single family home in Round Hill has jumped 10% in the last six months, while Hamilton, Purcellville, & Lovettsville have leveled off a bit.

Lovettsville has made a nice recovery in the last six months spending 30% less time on market. Although the prices have gone up in Round Hill it is taking about two weeks longer in the same time frame to get the higher dollar. Hamilton and  Purcellville seem to be creeping up as we are now officially into fall.

Inventory levels  seem to have leveled off everywhere during the last three months.

Questions? Give us a buzz if you have any or would just like to discuss your future plans. We are always glad to help!

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

The last time I took a look at median price per square foot in Loudoun County was back in March. Since then, it’s gone from a one year low of $157 a square foot to the current level of $160 a square foot. That movement would account for a price swing of $6,000 on a 2,000 square foot home.  (So, this is matching up with what we were seeing last week in terms of median price, huh?) Keep in mind that for these charts, we are looking only at single family homes.

Let’s peek to see if there are any differences between the towns across the county:

The first thing I notice that Sterling (in blue) has seen a significant gain since March, going from $155 a square foot up to $165.  Meanwhile, Ashburn (in black), after some fluctuation, is now about a dollar less a square foot than March. Purcellville and Leesburg are both under their March pricing, with Leesburg (in orange) down $2 a square foot, and Purcellville (green) down the most at $153 a square foot, about $4 a square foot less. Since the overall numbers for the county are at $160 a square foot, it looks like the majority of transactions are taking place in Sterling, where the price per square foot is higher.  It’s also logical to me that Sterling and Ashburn are more expensive per square foot than Leesburg and Purcellville, where the commuting times are longer.

Questions about market statistics specific to your neighborhood or home? Just ask, it’s what I’m here for.

Cheers,

Heather

I was concerned that we were going to see another dip in home prices in Loudoun County following the end of the first time homebuyer tax credit, because the buyer demand that came right before the deadline caused prices to rise pretty much across the board in April.  The chart above shows median pricing for both single family homes (black line) and the combined condo/townhome market (orange line), and you can see that while there was some minor downward correction this summer, we have not seen a decrease.

You can see a little fluctuation in the different towns, but the overall trend is steady. Sterling definitely had the most volatility but seems to have recovered since August, while the rest of the towns are decently stable. If you would like to see numbers specific to the towns in Western Loudoun County, check out Western LoCo Stats in just a bit, I will be working on that analysis today as well.

As always, if you have questions, or want information specific to your neighborhood or home, just ask. It’s why I’m here!

Cheers,

Heather

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

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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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