Up, Up, Up in Broadlands

Despite yesterday’s brief snow, it is spring and the market is heating up. Today, let’s take a look at what’s been happening in the Broadlands neighborhood in Ashburn during the last few months. I’ve spent some time with clients here lately, and can personally attest to what the numbers reveal.

Over the last 90 days, 12 townhomes have sold for an average of $387,350. That’s a 10.6% increase over last years average of $349,940, and more than double the 5 sold over the same time span. There are currently 23 homes actively for sale (non-new construction), and 10 of those are under contract.

Single family homes in the Broadlands have seen an even bigger increase in average price, from $508,329 to $624,764. Eleven homes have sold at an average of 45 days on the market during the last three months, compared to 14 sales and 62 days on market last year. As of this morning, there are 25 homes active in the multiple listing service (non-new construction), with 17 under contract.

So what does this mean for you? Buyers are going to pay more than one year ago, which is consistent with what we are seeing throughout the county. There is a little more from which to select, but make sure you put your best offer forward to avoid losing a home you really want. Sellers are realizing a larger gain year over year than many parts of LoCo, and sales are happening faster. If you are thinking about selling your home this spring, the first step is to see what your home may be worth. Click here to get our home value report delivered to your inbox. Thinking about buying? Sign up here for our new listing email alerts.

Cheers,
Mike