Ashburn, VA Market Report – 5/2/11

02 May
May 2, 2011

Now that the spring market is in full swing, there is a noticeable increase in new properties on the market as well an increase in properties going under since February.  The most favorable part of these statistics is that even though the number of active listings has increased since last year, the average sales price has also increase nearly 18%!

March 2010 March 2011 % change
Total Sales Volume $51.932,089 $33,963,941 -34%
Avg. sold price $384,682 $452,852 17.8%
Avg. DOM 40 60 50%
Under Contract 342 192 -32%
Active listings 274 304 10%

All indications show that the Ashburn market will enjoy a steady increase in value.  We must remember that  March of 2010 contained a larger number of foreclosures and short sales, and was driven largely by the first time buyer tax credit, particularly is the under $400,000 price range.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Avery-Hess, Realtors.

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