Loudoun Market Update-October 2005

November 9, 2005

This just in: October market data for Loudoun County. October data reflects a continuing shift to a buyers market. Sold listings are down by 124 from September levels. September 2004 sold listings were down 23 by comparison. Average days on the market went up to 42 days from 33 days last month. Inventory (properties on the market) went up by 130 or another 5%. Inventory in Loudoun is the highest in history. New listings went down by 329 for the month. We are still selling for 97.63% of the asking price. And, the average sale price increased 2% over August and still up 17% since January.

Even though we have two more green indicators for sellers, the huge factor is the decline in solds and pendings from last month and the days on market. Prediction: a leveling of expectations. The market is balancing itself from the hysteria of the last two years. Back to normal? Whatever normal is, we are going there.

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

Buyers: be selective, be patient and negotiate. You now have the advantage. Might be time to make your move.

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	526	$550,974	$480,000	42	2908	1302	529	97.63%
November
December
Metropolitan Regional Information Systems, Inc.   ::    Last Updated on 11/09/2005

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