The four areas of Eastern Loudoun County all showed an increase in homes sold versus the same period last year except in Ashburn. Sterling, Leesburg and South Riding all had increases in volume and helped to push sales activity up 14% over May of 2006.
The only laggard was Ashburn with units sold down 16% (24) over last year. This is a turnaround from the previous 4 months of the year when Ashburn either met or exceeded sales for the prior year period.
A quick look at pricing shows median list prices for homes under contract this year in the county versus last year shows a decrease of $30,000 from $465,000 down to $435,000. This represents a drop of 6.5% and continues the trend of smaller and smaller decreases. Median sales prices in Loudoun County drop dramatically in June of 2006 to $440,000. The last twelve months have seen median prices hover near that number and establish a solid price basis for the county.
Barring any unforseen economic events, prices should stay steady at their current levels for the forseeable future. Interest rates have become a concern recently and could erode buying power for new home purchasers.
For more Loudoun County, Viriginia real estate market stats, data and information/resources, check out Loudoun Stats.
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