Over $1 M Market Snapshot

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October 7, 2005

Loudoun Conty Properties Over $1,000,000

Base Period
mris_logo.gif
August 2005 Trend ↑↓ Sell Buy 
■   Avg Sales Price $1,279,935   ■ ■
■   YTD Avg Price --%   ■ ■
■   New Listings 54   ■ ■
■   Active Listings 158   ■ ■
■   New Pendings 7   ■ ■
■   Number Sold 25   ■ ■
■   Weeks Backlog 21   ■ ■
■   Days on Market 86   ■ ■
Our Opinion: Not Issued
Momentum: Base Line Period
$1,000,000 plus properties
mris_logo.gif
September 2005 Trend ↑↓ Sell Buy 
■   Avg Sales Price $1,258,859 ↓ ■ ■
■   YTD Avg Price --%   ■ ■
■   New Listings 86 ↑ ■ ■
■   Active Listings 229 ↑ ■ ■
■   New Pendings 18 ↑ ■ ■
■   Number Sold 15 ↓ ■ ■
■   Weeks Backlog 30 ↑ ■ ■
■   Days on Market 63 ↓ ■ ■
Our Opinion: Shifting to Buyer Market
Momentum: Buyers!
There was one very high priced property sold in August that skew the average price and days on market. This property was removed from the data. This will be a general problem with presenting data when the overall number of properties in the analysis are relatively small.

Another observation: new home builders are glutting the market with $1 million plus homes in western Loudoun County. This fact will certainly negatively impact the upper end market.

There is no mistaking the trend. We are listing more and selling less. We'll see how it looks in October.

Note: Weeks Backlog is calculated by dividing total active listings for the month by the number sold plus pendings and multiplied by 4.3 (average number of weeks in a month).

Comment on Over $1 M Market Snapshot. Follow this article is off. More articles like this one filed in: Loudoun County Market News

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