Inside Loudoun New Construction

New Construction trend shows the number of units sold by month and average price.
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Loudoun County New Construction

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August 30, 2007

The three years of data displayed is based on the average sales price for new construction residential property each month as reported by the MLS for Loudoun County, Virginia. New construction data is routinely unreliable in the MLS as many new homes are never recorded in the MLS until well after closing, if at all. Selling agents often update the MLS in December to establish "award" credit when builders do not participate or update the MLS.

Chart contains number of units sold (settled) by month and average sales price. Notice the spikes at each year end (see comment above about selling agents). This contributes to the spikes in December of each year in total homes sold. The average price of a new construction peaked in July of 2006 and has generally declined since.

The uptick in July is consistent with what I have seen reported nation wide that there was a surprise increase in sales. One month does not constitute a trend.

Hover on data points to view values.

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