Wow, when we last looked at Ashburn and Loudoun County in July we saw huge gains for the County and Ashburn. Now the news is not so good. Even though the average sales price continues to lead the County’s $391,485, sales volume has dropped 10% since October, 2010, the County has dropped 15%.
|October 2010||October 2011||% change|
|Total Sales Volume||$39,891,600||$35,513,887||-10%|
|Avg. sold price||$398,916||$417,810||4.7%|
New home sales in the 20148 zip code continue to fuel the Loudoun County’s Market, however, the builders enjoying a great Summer market began building spec homes, which have not sold as quickly as they anticipated.
The uncertain National economy has had a negative effect on our local Northern Virginia market, even though our unemployment remains the lowest of any major Metropolitan areas in the Country. Interest rates continue to remain record low levels and New Home Builders want to get that inventory off the market by the end of the year, so think positive and Buy Now!
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, Centreville, VA 20120