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Huh, Prices Rising in Round Hill?

I’ve been analyzing real estate market statistics across Loudoun County all this week (see my earlier post here or at LoCo Market Stats) and everywhere we look, median price has held steady or declined a bit since the end of April, coinciding with the end of the first time homebuyer tax credit. Not so in Round Hill! Median price for single family homes has actually risen about $50,000 over the last two months. The very small market for townhomes in Round Hill has stayed very flat and stable during that period.  I’m not sure if we will see this trend continue, as inventory is definitely up in Round Hill.  Now that the spring market is wrapping up, we should get a better feel for where things are heading.

Cheers,

Heather

Comments

2 responses to “Huh, Prices Rising in Round Hill?”

  1. Mark V. Avatar
    Mark V.

    Of course the median price is very susceptible to variations in volume, and with less than 15 home sales per month the volume of SFH sales is relatively low in Round Hill. Of course I really only looked quickly at settled transactions, you may have more data if you look at all listings.

    But it is good news overall. The settled volume for June was the highest that Round Hill has seen this year (half again the next highest month) and the homes that sold were more expensive homes. The average sales price (as opposed to the median) was up in June by about $70K over May, which is great.

    Reply
  2. Heather Elias Avatar
    Heather Elias

    Hi Mark!! Thanks for the comment…hope all is well with you and the family. You are so correct in pointing out that sales volume is lower in Round Hill, making it more susceptible to fluctuations in value. It’s interesting to me that the more expensive houses were selling during a time when in other areas of the county, the lesser priced homes (think first time homebuyer) were the ones getting snapped up. Maybe a few of those folks selling in the eastern part of the county moved further west to Round Hill?

    Cheers,
    Heather

    Reply

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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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