Market Staying Hot? Or Will Higher Interest Rates Douse It?

Well.. I knew I was having a difficult time locating available properties for buyers in Ashburn, and the current inventory numbers certainly support that.  You can see an uptick between March and mid-May, which makes sense from a seasonal perspective, but it is so far off from the super-high inventory levels of last summer!  You can also see that median price of single family homes has trended UP, yes, UP as a result of the inventory issue.  Condos and townhome median price is up slightly for the same time frame.  I’m curious to see what the one percent swing upward in mortgage rates is going to do to the hot pace of home sales we’ve been seeing here in Loudoun County; don’t know if that’s going to be a bucket of cold water on a market that has been showing some strong signs of recovery…we’ll have to watch what happens with the number of listings sold in the next month.

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Cheers,

Heather