Ashburn, VA Market Report – 6/5/12

05 Jun
June 5, 2012

As we move into the summer months, Northern Virginia, Loudoun County and Ashburn, continue to see record low inventories paired with historic low interest rates.  Loudoun has experienced an increase of 20% total sales volume over March and Ashburn has seen a 38% increase.  Great numbers definitely redefine the projections for the selling season.

Ashburn, VA 20147 and 20148 Zip Codes

April 2011 April 2012 % change
Total Sales Volume $48,361,492 $49,752,317 2.8%
Sold units 110 116 5%
Avg. sold price $439,650 $428,899 -2%
Avg. DOM 77 64 -16%
Pending contracts 241 286 18%
Active listings 229 302 32%

 

Builders continue to enjoy a brisk pace in sales of new homes in the Ashburn market. The uncertain economy had a negative effect on our local Northern Virginia market but that appears to have ended last year. Positive signs that the economy is recovering are beginning to show and are overcoming any negative feelings. There are signs that the unemployment is on a decline at a national level, coupled with Northern Virginia continuing to have the lowest unemployment rate of any major Metropolitan areas in the Country, at less than 4.5%.  All these factors suggest that now is a good time to buy and sell!

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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