No Dip Here, Either

Yesterday I posted on LoCo Market Stats about how median price in Loudoun hadn’t dipped in the summer as I expected. From the chart above (black line is single family homes, orange is combined condo/townhome stats) you can see that pricing has stayed relatively steady, after squeaking upward slightly toward the end of the first time homebuyer tax credit.  I thought I’d take a closer look at the towns in Western Loudoun County to see if they followed this trend line too:

As you can see, with a little fluctuation, they have as well.  If anything, single family home prices have *risen* slightly in western Loudoun since the spring. The black line for median price of condos and townhomes shows a bit more movement, but that’s because the number of non-single family homes sold in any of these towns are not enough, statistically speaking, to really show a trend.

So if the first time homebuyer tax credit was propping up our market, shouldn’t prices have tanked a bit after it was over?

Questions about your particular neighborhood’s trend or your home’s value? Please ask, it’s what I’m here for.

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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