Look Back: Ashburn Market in 2013
Ashburn has always been one of the most active real estate markets in LoCo. As Brambleton, Broadlands, and One Loudoun continue to grow, that should continue for years to come. Let’s take a look at the year that was 2013…
Our first chart shows the month by month breakdown of last year’s 1827 total sales (15.5% more than 2012). The blue line represents the 1,044 sales in the 20147 zip code, while the purple line shows the 783 in 20148. Compared to LoCo’s 13.5% increase in volume, Ashburn continues to outpace the rest of the county. The most remarkable stat in this category was a 26% jump in the number of homes sold for 20147 compared to the previous year.
The stat everyone is interested in, average sales price. Single family homes in the 20147 zip code (Ashburn Village, Ashburn Farm, and One Loudoun) saw average sales price climb just over 6% to $597,936, while townhomes/ condos sales rose over 10% to $350,537. The 20148 zip code saw a similar movement in prices, up over 8% for single family homes to $679,670, and just under 5% to $400,105 for townhomes/condos. This is similar to the all of LoCo, where single family prices were up 6.8%, and townhome/condo sales were up 8.7%.
We can speak first hand to how hot the Ashburn market was last spring, with lots of multiple offers and many homes off the market before one weekend. Things cooled off considerably in the fall, but amazingly forty-two percent of all homes here sold in 10 days or less. If you were selling in the 20147 zip code, it took just 36 days to ratify a contract (16 days faster than the average LoCo home). Those living in the 20148 zip code had to wait 65 days, which was actually one week longer than 2012 and two weeks longer than the county average.
So, what do all these stats mean for you? If you are selling in Ashburn, almost every trend is in your favor. Overall, prices were up 5-10%, while days on market were down overall. The lone bright spot for buyers here was 300 more homes sold last year than 2012. Having more options from which to pick helps keep prices from skyrocketing and allows a little wiggle room in negotiations.
Live in Ashburn (or anywhere in LoCo) and wonder what your home is worth? Click here and we will shoot you an email with an up to date home value report. Thinking about buying? We’ve got you covered there too, sign up here to get email updates on all the listings in your target area.
Have a real estate question or need any information on all things LoCo, just ask!
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About our blog
Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.