REAL ESTATE STATISTICS ASHBURN HOMES FOR SALE 20147 June 2013 CONTINUE TO REFLECT A SELLER'S MARKET
These statistics are a reflection of June 2013 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 JUNE
In June 2013 there were a total of 115 homes sold in the 20147 zip code. This is an increase of 11% over May sales. Of those sold 11 were condos, 53 townhomes and 51 were single family detached homes. The 51 single family homes sold was up from 36 the month before. The number of Condos sold was down 3 units from the previous month and townhomes were down one from last month.. That's great news for Sellers!
AVERAGE ASHBURN HOME SALE PRICES IN JUNE
The average sale price for Condos was $239,608 down 2% from the previous month. Townhomes average was $387,448 up 1% from the previous month. The average Single Family home price was $615,394 down 0.3% from the last month.
Don't get hung up on the small variations in month to month sales prices, they represent a small sample and are not statistically significant.
ITS A GREAT TIME TO SELL!
AVERAGE DAYS ON THE MARKET FOR ASHBURN HOMES FOR SALE IN JUNE
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 24 days last month to 26 days in June; For townhomes Days on the Market decreased from 21 days in May to 14 days in June; Last but not least is Days on the Market for Single Family homes which dropped from 32 days in May to 30 Days in June.
ABSORPTION RATE STATISTICS FOR ASHBURN HOMES FOR SALE JUNE 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 the 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: 113 sold in the last 12 months or 9 per month. The absorption rate for Townhomes is: 463 sold in the last 12 months or 39 per month. The absorption rate for Single family detached homes is: 395 sold in last 12 months or 33 per month.
PUTTING IT ALL TOGETHER!
So to make sense of all this you need to know the current inventory of homes so, as of July 1st here is the scoop! There are currently 16 condos on the market so that represents about 1.7 months of inventory at the current absorption rate. There are 32 Townhomes on the market which represents a bit less than a month of inventory and finally there are 73 single family homes on the market that represent about 2-1/4 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 HELP WITH REAL ESTATE RIGHT NOW...PLEASE GIVE US A CALL.