Loudoun Real Estate Blog

The real estate market continues to remain stable in Loudoun County. According to Real Estate Business Intelligence (www.rbintel.com), there were 367 homes sold during the month of September 2010 which is down slightly by 6.62% from August 2010. The average sold price in September 2010 was $407,811 which is also down by 3.11% from August 2010 but is up by 5.15% from last year at this time. The average days on market has remained relatively stable and was 56 days during September 2010 according to the statistics. One interesting note is that there were 651 new listings during the month of September as opposed to 568 in August. If that trend continues, then inventory will definitely be increasing.

After a relatively active real estate market over the summer, it seems everything came to a halt in September-at least in the upper price ranges. The market data confirms this. According to the Metropolitan Regional Information Systems, Inc.-MLS Resale Data, in the Ashburn zip code of 20147 during the period from 9/01/08-9/30/08 there were 24 active listings over $800,000 and not one sold during that time. Overall in the 20147 zip code there were 310 active listings with 59 selling during the month of September which basically represents a little over 5 months of inventory.

The Sterling/Potomac Falls zip code of 20165 fared a little better. During the period of 9/1/08-9/30/08, there were 167 active listings with 33 homes selling during the same time period. This represents a 5 month invenotry.  Unlike Ashburn, the upper price ranges did still have some activity in September. During the month of September, there were 6 active listings in the 20165 zip code listed above $800,000 with two homes selling during that time over $800,000.

Hopefully, things will settle down and activity will pick up over the next few months. There definitely are some great buys out there.