Look Back: Purcellville in 2013

We moved to Purcellville in 2004, finally ending our journey west from Sterling which began in 1999. Seems as though we’re reminded daily it was the right decision for our family, let’s take a look at how the real estate market fared here last year…

The graph above details a month by month accounting of the closed sales in Purcellville last year (blue) and in 2012 (purple). The 267 sales represented a 5% jump compared to the previous year, however it was well below LoCo’s increase of 13.5%. Interestingly, the same number of single family homes sold in 2013 and 2012 (226 vs. 227) while 14 more townhomes changed owners (41 vs. 27).

Single family homes in Purcellville sold for an average of $520,994, up more than 12% compared 2012’s average of $464,282 (that’s $56,712). What’s remarkable about the average sales prices last year was how consistent it stayed from start to finish. Townhome sales price also rose, although at a more modest rate of almost 4.5% to $283,871. We expect both volume and price to climb again for townhomes this year with the addition of Toll Brothers’ Purcellville Green neighborhood.

One of the things we see in Purcellville is a much longer average days on market compared to most of LoCo. Mostly due to the number of acreage properties, it’s also partly because fewer people want to live “all the way out there”. The good news for sellers, it took two weeks less (92 days) in 2013 for a ratified contract versus 2012.

What do these numbers mean for you? If you are selling a home in Purcellville, the high time is May to August and you can expect to list in early March to make that happen. You can also expect home values to be up significantly compared to two years ago, although I don’t believe we will see a 12% leap this year. Buyers here won’t have to act quite as quickly as other areas, but should expect to pay top dollar.

If it’s been a while since you’ve checked what your home is worth, you might consider asking for our home value report. We’ll deliver it to your inbox within an hour and would be happy to answer any questions. Thinking about buying? We’ve got you covered there too, just request our email update for all the listings in your target area.

Cheers,
Mike