Let’s take a really good look at the state of the real estate market for single family homes in Ashburn, now that it’s mid April, and the market is decently busy for spring. Here’s what the charts look like:
So, what does this mean? Median price looks like it’s moving around a lot, but that’s not truly representative: it’s up roughly 2% since January, so all of that wiggling up and down isn’t significant, from a statistical standpoint. As a homeowner, that 2% difference means about $12,000 on a $587,000 home, though, which is nothing to sneeze at. Inventory, meanwhile, is up 30% since October, but only up 15% since January. Inventory still feels light to me, so I’m not sure if the new construction listings are what is swaying that trend line upwards. Average days on market have started to drop recently, but are up about 10% from where we were this time last year. (not that anyone is complaining with an under three month marketing period to get their home sold, 122 average days on market is good from a seller’s perspective). Finally, average price per square foot started trending up in September after holding fairly steady for the year and a half prior.
That’s it, in a nutshell. If you are thinking about buying or selling in this spring market, certainly get more detailed information that is specific to your situation. And of course, if you aren’t working with an agent and would like my help, please reach out.
(and photo credit goes to my Mom and Dad, their lovely flowers are at the top of the post)