Yesterday we looked at the market for single family homes in Ashburn. Today, let’s see what’s going on in Sterling. Here’s how the statistical charts look this week:
Median price catches my eye right away…that’s a jump of 20% since the beginning of the year! Big movement in this area. Inventory, meanwhile, is down about 10% from where we were last April. No wonder prices have come up a bit. This matches up with what I’ve been seeing; I’ve had buyers in multiple offer situations in Sterling this spring, for homes that had just come on market. Average days on market is up 25% compared to April 2010, and I’m guessing that’s because we were in the middle of the first time homebuyer tax credit last year, and everyone was rushing to get under contract. The chart for median price per square foot shows a bit of movement, but going as far back as October of 2009, we’ve wiggled no more than 4% in either direction; hovering around $165 per square foot, give or take a couple of dollars. Keep an eye on that trend line, though, if it continues to move up, that will be the highest it’s been in the last few years.
So what does that mean for you, if you are thinking about making a move this spring? It means you should get information that is tailored more specifically to your situation, so that you can make informed decisions. If you aren’t working with an agent, and would like my help, please reach out to me; I’m a career real estate agent and am happy to advise.
(and another photo credit to my mom and dad, for sharing their daffodil photo…)