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.
Total Sales Volume
Avg. sold price
Do you live in Ashburn
After a dismal start to 2012, Ashburn has shown a remarkable recovery in the 2nd quarter. Sold units have increased over 100% and median sales price well over 25%. This mirrors the same great stats for Loudoun County. Ashburn continues to be the benchmark for Loudoun County, producing over 35% of Loudoun County’s sales volume and maintaining a average sales price nearly 20% above the County's average.
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.
When we last looked at Ashburn and Loudoun County in October we saw huge losses for the County and Ashburn. Now the news the news is much better. The County’s average sales price has recovered nicely and is now at $471,000.
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%.
Wow, Ashburn leads the market in Loudoun County. Sales volume has a dramatic increase over June, 2010, the average sales price is 11% above that of Loudoun County’s $428,522 as well as being well above Northern Virginia’s average sales price of $439,728, while the number of active listings remains relatively stable.
Wow, Ashburn leads the market in Loudoun County.
Sales volume has a dramatic increase over June, 2010, the average sales price is up nearly 10%, and number of active listings remains relatively stable.
Let's look at the stats for zip codes 20147 and 20148:
Total Sales Volume
Avg. Sold Price
All indications show that the Ashburn market will enjoy a steady increase in value. The Ashburn market is one of the “hot beds” of new construction in Northern Virginia, with new single family and town homes leading the charge in the Brambleton area.
Now that the spring market is in full swing, there is a noticeable increase in new properties on the market as well an increase in properties going under since February. The most favorable part of these statistics is that even though the number of active listings has increased since last year the average sales price has also increase nearly 18%
Ashburn is following the normal seasonable pattern of softening prices and reduced inventory as we approach the holiday season. For some very focused buyers, the next six weeks will be the best time of year to buy a new home since there are fewer buyers in the marketplace to compete with.
Ashburn is a very stable market based on the stats and what agents are telling me. After the financial panics, people get back to the basics and ask, “where is a good place to live?” Then they go buy a home there. This is exactly what we have seen in Ashburn for the past 21 months since prices bottomed in November 2008.