Moving into Fall of 2011, the Sterling Market has seen a great resurgence of the average sales price — up nearly 16% over August, 2010. 2010 saw this market hit extremely hard with foreclosures. Many of these homes had been totally abandoned and sat vacant for months at a time. With the decrease in the number of homes on the market in substandard conditions the average sales price has recovered very nicely.
Statistics for zip codes 20164, 20165, and 20166 –
|August 2010||August 2011||% change|
|Avg. Sales Price||$299,294||$346,640||15.8%|
|Total Unit sales||112||85||-31%|
All indications are that the Sterling market will continue to enjoy a steady increase in value. While Loudoun County has seen the average sales price hold steady year over year, this is a refreshing highlight for the Sterling Market, hit so hard by the distress property sales of last year.
Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles/Westfields Regional Office