Take a peek at the charts below, which give you a snapshot of both the single family home market and the condo/townhome market in Sterling, Ashburn, and Leesburg. One of the main things that jumps out at me is how the “Homes Absorbed” compare to the “Newly Listed”~~since in all cases those numbers are very close, it shows us that houses are pretty much selling as fast as they are hitting the market. Our inventory level isn’t increasing as the summer months wane, as it usually does.
You can also get a feel for what is selling the fastest by looking at the days on market. Not surprisingly, the condos and townhomes, which are lower price points for the most part, are selling more quickly than the single family homes. (In Sterling, the days on market are similar for single family homes and condo/townhomes, but there are a slew of older single family homes in the same price bracket as the condo/townhomes.)
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