LoCo Homes Market Now Stable?

Here’s the bird’s eye view of the Loudoun County real estate market this week…Looks like things are pretty stable; with the first time homebuyer tax credit driving demand right now, inventory remains low, and days on market are dropping. Prices remain stable as appraisals are conservative (multiple offers are not causing prices to trend up sharply, but I am seeing most appraisals marked ‘stable’ and not ‘declining market’ now.)

The last graph is the market action index, which takes into account inventory and buyer demand, to give us a visual representation of whether it’s a buyers’ market or sellers’ market. Once the number reaches 30 that is typically considered a balanced  market. So the condo/townhome market is edging toward balance, while the single family home market is still strongly a buyer’s market.

loudoun county inventoryloudoun county days on marketloudoun county median priceloudoun county market action index

Questions? Want more or more specific info? Ask Heather

Cheers,

Heather

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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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