Loudoun Real Estate Blog

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.

Our mid-month housing market analysis for Loudoun County, Sterling VA, Ashburn VA and Leesburg VA shows signs of staying relatively flat from last month’s numbers. To generate the numbers, we combined what has already sold as well as what is currently under contract with a closing date within April 2008

Loudoun County

Overall, the county will sell roughly 172 detached homes and 156 townhomes as compared to last month a total of 171 detached and 157 townhomes. The average sales price is currently lower than last month for detached homes and higher for townhomes. Lets see if the numbers change once the end of the month is here and all the sales have been entered.

Sterling / Potomac Falls (20165) Virginia

Sterling’s numbers are currently 19 detached homes and 17 townhomes, which will be higher than the 10 detached and 15 townhomes that sold last month. Currently, the average sales price is lower than last month for both detached homes and townhomes.

Ashburn (20147) Virginia

Ashburn doesn’t look like it will be able to keep up the improving trend since the beginning of the year. Each month since January 2008 for both detached and townhouses the number of homes sold has increased. Currently, it appears 17 detached homes and 32 townhouses will sell by the end of the month which is down slightly from 19 detached and 38 townhomes. The average sales price is a bit lower for detached and higher for townhouses.

Leesburg (20176) Virginia

The Leesburg detached home run up in activity looks like it will not be sustainable. Currently a total of 18 detached homes are set to settle in April, down from a high of 28 homes in March. The townhouse market in Leesburg is up a little to 27 townhomes to sell from 21 in March. The average sales price is looking higher than last month for townhomes but lower from detached.

According to the Metropolitan Regional Information Systems, Inc., the statistics for February resale homes in Loudoun County were dismal. In the 20147 zip code of Ashburn, there was only 1 sale for the month of February for homes listed for $700,000 or more. There were 46 homes on the market in the 20147 zip code during that same time period. Obviously, 1 out of 47 are not good odds. Unfortunately, the 20165 zip code of Sterling/Potomac Falls was even worse if it is possible. During the month of February, there were no sales in homes listed over $700,000 and 19 homes listed for sale over $700,000 during that same time period. Hopefully, the increased FHA and conforming/Jumbo loan amount increases will help. I will keep you posted.