Loudoun Quick Look-March, 2006

April 1, 2006

We collected the "unofficial" March 2006 real estate market data for Loudoun County, Virginia and sellers will have little to cheer. Although, the average home price recovered a bit at only -2.5% YTD. Based on number of homes sold and new "under contract" for the month at current inventory levels (homes on the market) there is almost a 16 week backlog. Average number of days on the market looks like it may decrease a bit to 76 days from 78 days in February

New listings are out pacing new contracts written by a 3 to 1 margin. Only 14% of the total homes for sale are being absorbed by new contracts. The calculated Buyer Intensity Index of -0.72 remains unchanged and indicates continued good support for buyers. We will pull the new construction stats in a couple of days.

I hate to continue to repeat myself but, buyers are looking for value. Sellers getting contracts are those that have the best showing homes at a value price.

MLS official March results will be available on or about April 10th.

Buyer Intensity Data Points

Notes:
1. The Official MLS reports should be available on April 10th.
2. Many new home builders are slow to post sales in the MLS.

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