Remember how back in April I was writing about how it was slim pickin’s for homebuyers in Ashburn? Yup, that has changed, and dramatically. Since the first time homebuyer tax credit ended on April 30th, our inventory has risen tremendously…there are now more than twice as many homes on the market. Now that we don’t have the tax credit muddying the waters, we should have a clearer picture of where our local real estate market stands. At this point, it means higher inventory, and slightly shorter days on market. Median price is overall slightly higher for condos and townhomes, while slightly lower for single family homes. I expect that until that inventory gets absorbed, we will see days on market creeping up again, while median price settles down a bit. In any case, it’s going to take a little time, now that the spring market is ending, before we see where things are going. If you are thinking about making a move now, either buying or selling, please reach out so that I can give you advice that is tailored to your specific situation.
Cheers,
Heather
Single Family Homes
Condos and Townhomes
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