We’ve turned the corner into another year in Loudoun, and I’m a couple of weeks late with a 2010 wrapup post on the state of the market. So how did 2010 turn out, compared to 2009?
- Total Homes Sold 2010: 4936, which is down 8.8% from 2009
- Median Sale Price 2010: $362,500, up 8.2% from 2009
- Average Days on Market 2010: 50 , down 24.5% from 2009
- Percent of List Price to Sold 2010: 96.9%, up 0.9% from 2009
I see quite a bit of positive there…median sale price up over 8 percent is great, it definitely shows market recovery. And a 24% drop in days on market is great; most of the country would LOVE to see an average of 50 days on market. I’m not as concerned with the volume of homes sold; that is holding pretty steady.
What does this mean for 2011? It’s probably not going to take you as long to sell your home, and if we continue to see an 8% upward trend in median sold price, I have a lot of clients that are going to want to sell this year. I’m very optimistic that we are seeing stability in our market, a return to normal, and a reason to have confidence in your home.