ASHBURN REAL ESTATE STATISTICS 20147 MAY 2013

By
Real Estate Agent with Keller Williams Realty

ASHBURN REAL ESTATE STATISTICS CONTINUE TO REFLECT A SELLER'S MARKET IN MAY 2013

These statistics are a reflection of May Ashburn Real Estate Statistics2013 Stats for the 20147 zip code. If you would like to see more specific statistics for your area, i.e. a different zip code or a specific price range and geography please click here and make your request.

TOTAL ASHBURN HOME SALES IN MAY

In May 2013 there were a total of 104 homes sold in the 20147 zip code. This is an increase of 18% over April sales. Of those sold 14 were condos, 54 townhomes and  36 were single family detached homes. The 36 single family homes sold was down from 46 the month before, but townhome and condo sales were up over 30% from the previous month. That's great news for Sellers!

AVERAGE ASHBURN HOME SALE PRICES IN MAY

The average sale price for Condos was $243,695 down .2% from the previous month. Townhomes average was $384,111 up 5% from the previous month. The average Single Family home price was $617,040 up about 10% from the last month.

ITS A GREAT TIME TO SELL!

 

 

AVERAGE DAYS ON THE MARKET FOR ASHBURN HOMES FOR SALE IN MAY


The great news for sellers is that this continues to be a sellers market with low inventory and low days on the market. Average Days on the Market for Condos increased from 14 days in April to 24 days in May; For townhomes Days on the Market increased from 10 days in April to 21 days in May; Last but not least is Days on the Market for Single Family homes which dropped from 38 days in April to 32 Days in Mayl.

 

So just like the AT&T commercial says.....relative to tying a Cheetah on Grandma's Back....Faster is Better Right?..... You Bet!

ABSORPTION RATE STATISTICS FOR ASHBURN HOMES FOR SALE MAY 2013

 

So what is absorption rate? I'm glad you asked! Absorption Rate is how many homes are sold in a given period of time. So if 120 homes sold in theAshburn Village Pavillion last 12 months, then the absorption rate is 10 homes per month. So why is this important you ask? It is only through absorption rate that one can define a market in terms of Seller Market, Buyers Market or a Balanced or Normal Market.

 

 

WHY IS ABSORPTION RATE IMPORTANT?

Because it determines how quickly homes move on and off the market....and you want to know that right? So you know how long it will take you to sell your home if priced properly, so you can make that move for your job, or buy that move-up home, or be able to predict with some level of certainty how long you have to keep your house clean and have people going through it when you have it for sale.

ASHBURN REAL ESTATE STATISTICS - ABSORPTION RATES

Okay so the absorption rate for condos is: 110 sold in the last 12 months or 9 per month. The absorption rate for Townhomes is: 462 sold in the last 12 months or 39 per month. The absorption rate for Single family detached homes is: 387 sold in last 12 months or 32 per month.

 

Ashburn Village PavillionPUTTING IT ALL TOGETHER!

So to make sense of all this you need to know the current inventory of homes so, as of June 3rd  here is the scoop! There are currently 12 condos on the market so that represents about 40 days of inventory at the current absorption rate. 41 Townhomes are on the market which represents a bit more than a month of inventory and finally there are 76 single family homes on the market that represent about 2-1/3  months of inventory.

According to the National Association of Realtors:

A Sellers market is defined by 1-4 months of inventory

A Normal Market is defined by 5-6 months of inventory

A buyers Market is defined by 7+ months of inventory

 

So that is great news for sellers!

 

 

WE ARE STILL EXPERIENCING A SHORTAGE OF INVENTORY....WHO DO YOU KNOW THAT NEEDS OUR HELP WITH REAL ESTATE RIGHT NOW...PLEASE GIVE US A CALL.

 

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Thanks for sharing this with your networks!

Dan Ritchey, Realtor

Keller Williams Realty Loudoun Gateway

20130 Lakeview Center Plaza, Suite 110

Ashburn, VA 20147

www.RitcheyREsources.com

 

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