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Back to School Market Update

As we send the children off for the new school year we thought it was time to take a look at the beginning of the fall market. As the chart below displays, median price for single family, condominiums, and townhomes in Loudoun are at a two year high. This represents a 14% increase in single family home median price and a 21% increase in condo/ town home median price versus August 2010.

Although inventory has increased substantially since the spring, compared to a year ago single family home inventory has dropped 18% while condo/ town home inventory has dropped 24%.

Since the early spring, the graph shows a 40% drop in days on market for both single family homes and condo/ town homes.

If you would like to know what your home is worth now, click here.

Cheers,
Mike 

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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.



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