I’ve been reading a number of articles in the last few weeks saying the 2012 real estate market is ready for a rebound and thought it was worth a look. Although the LoCo market has not been as adversely affected as others, the numbers do suggest things are on the upswing. Compared to last December, median prices are up 7% on single family homes and 23% on condos/townhomes! As of this post, there are 951 active listings (excluding new construction) in Loudoun County and 332 homes have gone under contract in the last 30 days. That equates to 2.9 months of inventory at the current sales pace. We also see average days on market is about two weeks less than this time last year. These statistics lend credence to what we are hearing from national outlets, but the most important question is what does this mean to you. Click here to send us your question and we can help with the answer.
Cheers,
Mike
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