Ashburn, VA Market Report – 12/2/09

02 Dec
December 2, 2009

Here’s a look at the latest market trends from Ashburn, Virginia:

  • Homes for sale: 391
  • Closed sales: 102
  • Average sold price: $382,665
  • Average days on market: 40

The average sales price took a huge dive from last month in large part because the majority of what was sold was comprised of lower priced properties. As a result, the average sales price dropped from $424,550 to $382,665. Common sense tells us that the market did not drop by 10% in one month. What we’re faced with now is a statistical anomaly that should smooth itself out over time.

In the meantime, almost any home priced under $350,000 in Ashburn is getting multiple contracts. The average days on market one year ago was 61 days, last month 43 days, this month 40 days; the trend is unmistakable.

Ashburn is convenient to numerous major transportation routes. Within a few years the Dulles Airport extension of the Metro rail will add one more transportation option to the many that already exist in the area. Numerous restaurants throughout the area give residents a large number of dining options to choose from. Every major chain and type of cuisine is represented in the area.

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Ashburn, and all of the DC Metro: www.averyhess.com

Tags: , , , , , , , ,
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply