Ashburn Real Estate Market Update for January 15, 2008:

The good news about Ashburn is that we are beginning to find the bottom of the market for single family homes.  The low point or bottom occurred in November, 20^th 2007 on a bank owned property in Belmont Ridge (Breeders Run Ct.) that home sold for $310,000.  Since that time the lowest priced single family homes in Ashburn are selling for about $365,000 with most of the homes selling over $400,000.

•·        Single Family or detached home available inventory = 235 homes.

The number of available detached homes in Ashburn remained the same over the past 15 days.  Inventory overall is running about 15 homes fewer than the average over the past 4 months.

•·        Sold price range for 20147 and 20148 = Low $450,000 - High $1,350,000.

•·        Sold or under contract homes over the past 30 days in Ashburn = 63.

Ashburn home sales this month were up by 4 units based on the average of 59 over the past four months.

•·        Current absorption rate or average length of time an Ashburn single family home stays on the market = 3.7 months.  This figure is at about the same pace as has been over the past 4 months.

If you would like to know specific details about homes in your neighbor-hood call me at 703-728-7060 or check out the free MLS search on my website @ http://www.realestate777.com/ or.

I am here for you for every step.

- Jamie Casamento, Realtor ERA Teachers, Inc.