Let’s take a look at median home price across Loudoun County for this week…starting with the single family home segment in Sterling. Holy cow, look at the increase~~ that’s about a $50,000 jump over the course of a month. At the same time, condo/townhome prices seem to have bottomed and are creeping up a bit.
In Ashburn, prices are still steady for single family homes since the beginning of March, while condo/townhomes are still dipping down. As I have been working with clients trying to find a single family home in Ashburn in the last few weeks, I can assure you there is very little inventory under $500,000 that isn’t a short sale.
As we get a little further out in the county, median single family home price is creeping up slightly in Leesburg, as condo/townhome median price continues to remain stable. For the homebuyers I’ve worked with in Leesburg in the last month, multiple offer situations are very common on homes in good condition, priced reasonably.
Lastly, waaaay out there in Purcellville (which isn’t really that far out, I live there) the median price on single family homes is still coming down; compared to the eastern parts of the county that’s some significant movement since the beginning of March. Townhome median price continues to be volatile, as we have two disparate price points for townhomes with nothing in between.
Sometimes it’s tough to judge how things are going when you are only looking at the charts…speaking from a listing agent’s perspective, if you are looking to sell and you live in the Sterling/Ashburn areas, and your sale doesn’t involve a lender approving a loss on the transaction (short sale), you can sell a well priced home in a very reasonable amount of time (under a month, in many cases). If you are in Leesburg or Purcellville it might take a little longer but buyer demand is still strong. Questions about a specific neighborhood or zip code? Leave a comment here or shoot me an email, I’m happy to help.
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