The month ending numbers for the real estate market in Loudoun County are available from the Metropolitan Regional Information Service, our multiple listing service (MLS). I was reviewing a couple of charts; the first shows the total number of listings sold in Loudoun County as compared to years prior, broken down by month. The second shows the number of new pending contracts, broken down by month. (I’d love to show them to you but they are copyright protected by MRIS.) What I see when I look at these is that we are seeing a nice uptick in listings sold, as well as an uptick in the number of pending contracts over the prior year. There were 553 sold listings for June 2008, up from 466 in June 2007: an increase of 18.67 percent. (this is an increase over May, which had just over 500 listings sold. ) New contracts for the month totalled 631 properties, compared to June 2007, when there were 461 contracts (yes, that is a 37% increase!) Average days on market fell to 98 days this June from 111 days in June 2007. There were 864 new listings taken in the month of June, and 631 properties that went under contract in the same time period.
I will be interested to see how the July numbers turn out; typically at this point in the year we start to see things slow down a bit going into the fall as folks are on vacation and waiting for the beginning of the school year. Anecdotally, it seems like business is picking up rather than slowing down, based on what I am seeing personally and in my office.
If you have any questions about these statistics, or would like more information, please call or email me and I’m happy to help.