Loudoun Market Update-September 2005

October 11, 2005

This just in: September market data for Loudoun County. September data is not surprising in many respects. Sold listings are down by 200 from August levels. September 2004 sold listings were down 166 by comparison. Average days on the market went up to 33 days from 28 days last month. Inventory (properties on the market) went up by 512 or nearly 23% which might be the highest increase in history. New listings went up by 281 for the month. We are still selling for 98.26% of the asking price. And, the average sale price dropped 12.8% over August but still up 15% since January.

Our opinion: September is historically a slow month for real estate. We are in a market that still exhibits healthy demand at the lower price levels. This can be seen by the sudden drop in average price without a significant drop in selling to listing price ratio. Active listings for September are up over 100% from Septmeber last year.

Our advice to sellers has not changed: do whatever is necessary to make your properties show their best. The most prestine homes sell quicker and for more money. See our recommendations at Property Presentation.

Buyers: be selective, be patient and negotiate.

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	650	$539,920	$485,000	33	2778	1631	546	98.26%
October
November
December
Metropolitan Regional Information Systems, Inc.   ::    Last Updated on 10/11/2005

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