Feb

Update: Homes Under Contract in Loudoun County

Yesterday’s research on Ashburn townhomes and the high number of homes under contract got me poking deeper into the statistics. (It was a snow day, according to the school systems around here! I just enjoyed a day working from home! <smile>)

Here is what I found:

For Ashburn:

Townhomes, 210 active on the market, 75 under contract = 2.8 month absorption rate
Single family homes, 240 active, 42 under contract = 5.71 month absorption rate
Condos, 50 active, 6 under contract = 8.33 month absorption rate

For Leesburg:

Townhomes, 239 active, 47 under contract = 5.09 month absorption rate
Single family homes, 444 active, 64 under contract = 6.94 month absorption rate
Condos, 124 active, 10 under contract= 12.4 month absorption rate

For Hamilton:

Townhomes, 1 active, no under contract
Single family homes, 54 active, 8 under contract = 6.75 month absorption rate

For Purcellville:

Townhomes, 18 active, 1 under contract = 18 month absorption rate
Single family homes, 148 active, 16 under contract = 9.25 month absorption rate

For Round Hill:

Townhomes, 4 active, no under contract
Single family homes, 75 active, 7 under contract = 11.29 month absorption rate

What I read into this is that we are seeing a recovery in the Eastern part of the county that hasn’t spread to the West yet. (That is the usual progression of the ripple effect) Looks like things are improving. I’ll try to put out an update on this every week or two to see what kind of movement we see in the numbers. I’m still feeling optimistic!

Cheers,

Heather