AveryHess, Realtors® Blog

Ashburn, VA Market Report – 2/15/12

When we last looked at Ashburn and Loudoun County in October we saw huge losses for the County and Ashburn.  Now the news is much better.  The County’s average sales price has recovered nicely and is now at $471,000.  In other good news, Ashburn sales volume has increased 32% since October, 2011.  All in all this has been a great recovery from a bad start to the 4th Quarter.

Statistics for Zip Codes 20147 and 20148

December 2010 December 2011 % change
Total Sales Volume $46,954,216 $46,893,310 -.012%
Sold units 113 110 -2%
Avg. sold price $415,524 $426,303 2%
Avg. DOM 54 59 9%
Pending contracts 167 156 -7%
Active listings 260 259 -%

New home sales in the 20148 zip code fell off at the end of the year as they always do. The builders, after enjoying a great Summer market, began building spec homes, which did not sell as quickly as they anticipated, so they reduced the start of large numbers of specs in the fourth quarter.

The uncertain National economy which had a negative effect on our local Northern Virginia market beginning the fourth quarter seems to have lessened in December. Positive signs of employment recovery nationally coupled with the fact that Northern Virginia continues to remain the lowest of any major Metropolitan areas in the Country helps our local market.  Interest rates continue to remain at record low levels, and inventories are at 5 year record lows in Northern Virginia, so think positive and Buy or Sell Now!

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office, Centreville, VA 20120

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