It’s the end of July and the Ashburn real estate market continues to roll right along nice and strong. Inventory levels are low, and multiple offers are the norm in most of the lower price points (although the multiple offers aren’t causing price run-ups like what we saw in 2004 and 2005.) The statistics below match up well with what I’m seeing in my day to day interactions with buyers and sellers.
To me, the most noticeable point is looking at the number of homes absorbed versus the number of newly listed homes. (That’s classic supply and demand, folks.) When there are more homes selling (being absorbed) than there are new listings, the inventory is getting lower~~ and it’s already low! The 20147 zip is particularly strong in that area, while the 20148 zip is merely keeping up, or close to it. The price per square foot is consistent throughout Ashburn, but median list price is higher in 20148 (where the average age of homes is half what it is in 20147).
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