Wondering how the Loudoun County real estate market is doing and what the statistics are? Curious as to how it did last month and how it compares to last month/last year? Well, there's good news... The Loudoun County real estate market is continuing to improve with inventory going down and buyer demand increasing. Check out the statistics:
Supply/Inventory
- The number of homes/listings that came on the market in July 2008 was 673. This is a 5 percent decrease from the number of homes that came on the market June 2008 (673 versus 709).
- The number of homes that came on the market in July 2008 was 26 percent less than the number of homes that came on the market in July 2007 (673 versus 907). This is a big year over year improvement and indicates continued strengthening in the Loudoun real estate market.
Demand
- The number of homes that went under contract (aka sold) in July 2008 was 550, which is the same number of homes that sold in June 2008. This is a key statistic because July is usually slower than June when it comes to buyer activity and shows that buyer demand is still strong.
- The number of homes that sold in July 2008 was 35 percent higher than the number of homes that sold in July 2007 (550 versus 358). This shows a substantial year over year improvement that has been the general trend in Loudoun County so far this year.
These statistics show that the Loudoun County real estate market is continuing to improve with lower inventory and higher buyer demand.
Next month, August, is typically one of the slowest months in real estate so we should see a "seasonal" slow down in buyer demand. But then again...that's what they say about July too and July showed no slow down in buyer activity whatsoever.
Related Articles
Loudoun County Real Estate Market Statistics - 1st Half 2008 vs 2007
Loudoun County Real Estate Market Looking Up! (Come Check Out The Stastistics)
Loudoun Real Estate Inventory Levels Well Below National Average
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