Loudoun Market Update-August 2005

September 10, 2005

The dreaded bubble has a very slow leak (pssssssssss...) in Loudoun County.
August data is a little surprising. Sold listings are up and, OH MY GOSH, avearage days on the market went up to 28 days from 22 days last month. Inventory (properties on the market) went up by 200 or about 10%. New listings went down slightly. We are still selling for a smidgeon (sp?) below the asking price. And, the average sale price went up 12% over July and up a WHOPPING 32% since January.

What does all this mean? We are in a market that still exhibits healthy demand. Active listings for August are up over 60% than last year for the same period. Home owners are cashing out and capturing their equity. Where are they going to go? Moving up in Loudoun County! I see this in the average sales price increase. We have several clients in the move up mode.

In the meantime, we continue to advise our selling clients to do whatever is possible to make their properties show their best. When there is more seller competition, the most prestine homes sell quicker and for more money regardless of the bubble. See our recommendations at Property Presentation.

2005 Loudoun County Monthly Sales Statistics
Month	Residential Units Sold	Average Sales Price	Median Price	Average Days on Market	Active Listings	New Listings This Month	New Pendings This Month	Average S/P as a Percentage of L/P
January	508	$469,168	$419,900	31	714	439	557	98.69%
February	485	$462,467	$429,000	30	908	720	678	99.15%
March	698	$501,491	$450,500	24	930	1007	808	99.84%
April	760	$525,525	$470,000	23	1259	1298	898	99.67%
May	799	$515,239	$475,900	14	1486	1295	942	100.28%
June	994	$547,057	$491,000	21	1779	1485	802	99.47%
July	788	$550,128	$482,250	22	2067	1395	736	98.97%
August	851	$618,542	$506,100	28	2266	1352	723	99.55%
September
October
November
December
Metropolitan Regional Information Systems, Inc.   ::    Last Updated on 09/09/2005

Comment on Loudoun Market Update-August 2005. Follow this article is off. More articles like this one filed in: Loudoun County Market News