Loudoun Real Estate Market | May 2006
June 9, 2006
Official May market update for Loudoun County, VA: Unsold inventory is at an all-time high at 4,718. There were as many new listings as last month with the number sold and new contracts remaining about the same. Surprisingly, prices seem to be maintaining even though we see price reductions on the majority of listings. Average days on market is holding right at 70 days for sold properties. This tells me that buyers (as few as there are) are writing contracts on their pick of the best at a reasonable price. The charts will be updated in the next hour.
Buyer Intensity
The Loudoun Buyer Intensity Index (Loudoun BII) is simply an indicator of buyer intensity at any point in time (monthly). Positive index values means more property is being sold than there are active listings. Negative index values means fewer properties are being sold when compared to total active listings. Values close to zero indicates a relatively balanced market; number sold is close to number active. An out of balance condition exists when the difference between sold and active is greater than 25% of the number of actives or when the difference is less than 20% of the number of total actives.
Data Points
| Loudoun County | Residential Property |
| ■ Avg Sales Price |
$532,473 |
↓ |
■ |
■ |
| ■ YTD Avg Price |
-4.40% |
↓ |
■ |
■ |
| ■ New Listings |
1,649 |
↓ |
■ |
■ |
| ■ Active Listings |
4,313 |
↑↑ |
■ |
■ |
| ■ New Contracts |
505 |
↓ |
■ |
■ |
| ■ Number Sold |
467 |
↓ |
■ |
■ |
| ■ Weeks Backlog |
19.1 |
↑↑ |
■ |
■ |
| ■ Days on Market |
73 |
↓ |
■ |
■ |
| ■ % of List Price |
97.1% |
|
■ |
■ |
| ■ Builders Sold |
58 |
↑ |
■ |
■ |
| ■ Buyer Intensity |
-0.78 |
↓ |
■ |
■ |
| Competition: |
+++Favorable to buyers |
| Market Momentum: |
Strong Buyer |
| Price Momentum: |
Buyers |
*Trend: change from previous month
*Index: Sold is 78% lower than total active |
|
| Loudoun County | Residential Property |
| ■ Avg Sales Price |
$542.050 |
↑ |
■ |
■ |
| ■ YTD Avg Price |
-2.6% |
↓ |
■ |
■ |
| ■ New Listings |
1,643 |
→ |
■ |
■ |
| ■ Active Listings |
4,718 |
↑↑ |
■ |
■ |
| ■ New Contracts |
469 |
↓ |
■ |
■ |
| ■ Number Sold |
484 |
↑ |
■ |
■ |
| ■ Weeks Backlog |
21.3 |
↑ |
■ |
■ |
| ■ Days on Market |
70 |
↑ |
■ |
■ |
| ■ % of List Price |
95.7% |
↓ |
■ |
■ |
| ■ Builders Sold |
45 |
↓ |
■ |
■ |
| ■ Buyer Intensity* |
-0.80 |
↓ |
■ |
■ |
| Competition: |
+++Favorable to buyers |
| Market Momentum: |
Buyers |
| Price Momentum: |
Buyers |
*Trend: change from previous month
*Index: Sold is 80% lower than total active |
|
Comment on Loudoun Real Estate Market | May 2006.
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