New Listings for October of 2014 in Loudoun County have increased 23.8% from October of 2013. There are currently 744 New Listings, which is much higher than October’s five year average new listings of 618.
New Pending Listings for 10/2014 have increased by 6.5% since 10/2013. New Pending Listings have increased by 3.4% since September of 2014.
Closed Sales has increased 10.2% since 10/2013, from -3.8% to 6.4%. There are 58.2% more new listings than closed sales.
There are 2,209 Active Listings in Loudoun County; this is high above the 5 year average (1643) for the month of October. There are 566 more active listings than the 5 year average and 783 more active listings than there were in October of 2013.
The Days on Market has remained close to the five year average DOM (59), but has increased by 11 days from October 2013.
The Average Sold to Original List Price Ratio has remained close to the five year average of 96.7%, but has decreased by 0.9% since 10/2013.
The high volume of active listings in Loudoun County and increase in DOM displays an oversupply. The high supply and relatively low demand explains the 0.9% drop in The Average Sold to Original List Price Ratio. The small drop in sold prices and increase in median sold prices would imply that the oversupply and limited demand are not impacting prices as much as they could be. Does this mean consumer confidence and slow-but-steady housing market growth is countering the influx of supply in Loudoun County?
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