AveryHess, Realtors® Blog

Ashburn, VA Market Report – 12/5/12

Wow, what a change 9 months makes! The Ashburn market is “Red Hot.”  The total sales volume year over year is up 27%, while sold units is down 22% which has created an increase in average sales of $26,000 over October, 2011.  This amazing market trend is being driven by the lowest interest rates in history, coupled by the lowest inventory in Northern Virginia in 5 years.  The re-sales and new home sales continue to surge upward.

October 2012 October 2011 % change
Total Sales Volume $48,846,591 $35,513,887 27%
Sold units 85 110 -22%
Avg. sold price $444,060 $417,810 6%
Avg. DOM 43 83 -107%
Pending contracts 204 119 72%
Active listings 277 337 -17%

Do you live in Ashburn or are you considering moving?  Now is the time to consider selling. Positive signs of employment recovery nationally coupled with the fact that Northern Virginia continues to remain the lowest in unemployment rate of any major Metropolitan areas in the Country.  Interest rates continue to remain 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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