A search of the 551 active listings in Ashburn showed 78 properties were either owned by a bank or lender, in pre-foreclosure or short-sale candidates. This represents 14% of the current homes available for sale in the local MLS. Of these 78 properties, 53 were townhouses, 15 were single family homes and 10 were condominiums.
Back in March of this year the percentage of homes that were foreclosures in the same area was 5%. From an absolute number and from a percentage, the percentage of the marketplace that could be considered distressed properties has risen dramatically.
Here are some interesting facts and statistics about these distressed properties:
- Lowest priced property: $193,000
- Highest priced property: $919,900
- Average list price: $419,000
- Median list price: $405,000
- Average number of days on market: 84
- Average age - 8 years old
Of the 84 homes sold in Ashburn during the month of August 11 distressed properties went under contact. Interestingly, this represents 13% of the total sales, comparable to the 14% of homes listed that are distressed.
As of now, the foreclosures haven't driven down prices down dramatically and they haven't been a disproportionate amount of the total homes sold.
If you would like to have these foreclosure listings emailed to you, just let us know. There are some very good deals for investment opportunities as well as for primary residences.
For more information about the Loudoun County, Virgnia real estate market, check out www.LoudounStats.com.
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