January Market Statistics – Loudoun

 

 

 

 

The January Market Statistics for Loudoun County are out… and… here’s the scoop: Drumroll please…
It’s basically good news for everyone!

Sellers will want to hear that:

• The number of closed sales are on par with our 5 year average.
• The number of new pendings (homes that went under contract during the month) is WAAAAY up.
• The median sales price and median list price is up, meaning that there are more higher end homes going on the market, and selling, than has been taking place in the last 5 years.
• The list to sales price ratio remains around 97%, so basically buyers are paying the list price, if the home is priced right.

Buyers will want to hear that:

• Inventory remains much higher than our 5 year average.
• Considering our 5 year average is low, this is good.  It’s around a 3.5 month supply overall… for comparison, the National Association of REALTORS says a 6 month supply is considered a “balanced” market.
• Average/Median days on market are up a bit… this means buyers are less likely to get stuck in a bidding war, and they may even be able to take a day or two to think about whether “that” home is “the” home or not, rather than being forced to rush into a decision or risk losing the house.

Within every market there are submarkets… Bluemont and Sterling are not the same, a million dollar home and a $200,000 condo do not experience the same market conditions.  So, when you’re ready to jump into the market, be sure to call me for a personal consultation and let me help you translate this information into what it really means for you. Anytime you’re ready, I’m ready! Vicky Chrisner Fieldstone Real Estate 703.669.3142 [email protected] www.MoveToLoudoun.com