Ashburn, VA Market Report – 8/31/10

31 Aug
August 31, 2010

Ashburn is still an active and hot residential real estate market. The stats and analysis are as follows:

  • Homes for sale: 511 (same as in June and up from 440 one year ago)
  • Homes sold: 88 (down from the tax credit induced 133 units in June and down from last year’s tax credit induced 121 units)
  • Average sold price: $515,823 (a statistical spike over last month’s $444,119 and last year’s $435,855)
  • Average days on market: 61 (very close to last year’s 60 days)

The increase of the trade up market, in which homeowners with equity sell and then buy a more expensive property, has resulted in a larger number of higher priced properties being sold.  More than we have seen in a long time causing the averages to go up.

Currently, we have a five-month supply of houses to purchase.  This is up from the four-months supply we had a few months ago. Remember that a six-month supply is considered a balanced market. If we can avoid another government housing stimulus, the market will have a chance to get back to “normal.”

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

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