Great Numbers

Well, the numbers are in and it looks like those of us close to real estate finally have something to smile about. While we are not out of the woods by a long shot, market activity in Loudoun County is looking good. In April 2007 there were approximately 3,250 resale homes available for sale. Of those properties, 439 properties went under contract (meaning they would be headed for closing). In April of 2008 the inventory was down to approximately 3,100 available homes, but 637 properties went under contract. This means year over year, the inventory dropped about 5% and sales increased about 45%. More recently the inventory in March 08 was at 3,100 properties with approximately 500 going under contract. That means, since last month, inventory has stayed constant and sales activity has increase by 27%. Now here is the part that really makes me smile. While the market place stayed flat in the overall number of listings, CB Leesburg captured 122% more new listings in April than we did in March. Equally as exciting, while the market improved by 27% for contract activity, we registered 64% more contracts in April than we had in March. That's a fun month in real estate. -Brian