REAL ESTATE STATISTICS ASHBURN HOMES FOR SALE 20148 AUGUST 2013 CONTINUE TO REFLECT A SELLER’S MARKET AND GREAT NEWS FOR SELLERS!
These Ashburn Real Estate Statistics are a reflection of August 2013 Stats for the 20148 zip code. If you would like to see more specific statistics for your neighborhood, i.e. a different zip code, neighborhood or a specific price range and geography please click here and make your request.
TOTAL ASHBURN HOME SALES IN AUGUST
In August 2013 there were a total of 76 homes sold in the 20148 zip code. This is an increase of 13% from July sales. Of those sold 9 were condos, 33 townhomes and 34 were single family detached homes. The 33 townhome sales trumped the previous month's 20 sales by an impressive margin. That's great news for Sellers!
AVERAGE ASHBURN HOMES FOR SALE PRICES IN AUGUST
The average sale price for Condos was $254,067 down 17% from the previous month. Townhomes average sale price was $448,411 up slightly from the previous month. The average Single Family home price was $714,071 up about 5% from the last month.
Don't get hung up on small monthly shifts up or down in the prices...its a small sample size and not statistically significant.
WHAT ARE YOU WAITING FOR....A MARKET SHIFT?....ITS HERE!
AVERAGE DAYS ON THE MARKET FOR ASHBURN REAL ESTATE FOR SALE IN AUGUST
The great news for sellers is that this continues to be a sellers market with low inventory and very low days on the market. Average Days on the Market for Condos was 52 days in August up from 14 days in July, due in part to a unit selling after being on the market for 232 days, which skewed the average; For townhomes Days on the Market decreased from from 42 days in July to 21 days in August; Last but not least is Days on the Market for Single Family homes increased from 43 days in July to 52 Days in August.
ABSORPTION RATE STATISTICS FOR ASHBURN HOMES FOR SALE
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: 81 sold in the last 12 months or 6.8 per month. The absorption rate for Townhomes is: 348 sold in the last 12 months or 29 per month. The absorption rate for Single family detached homes is: 359 sold in last 12 months or 29.9 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 September 4th here is the scoop! There are currently 13 condos on the market so that represents about 2 months of inventory at the current absorption rate. 32 Townhomes are on the market which represents 1.1 months of inventory and finally there are 85 single family homes on the market that represent a bit less than 2.8 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!
THERE IS STILL A SHORTAGE OF INVENTORY IN OUR MARKET...THAT'S GREAT NEWS FOR SELLERS. WHO DO YOU KNOW THAT NEEDS HELP SELLING REAL ESTATE RIGHT NOW? WE WOULD APPRECIATE THE OPPORTUNITY TO SPEAK TO THEM TO SEE HOW WE CAN HELP.
That's about all for Ashburn Homes for Sale in the 20148 Zip Code. See you next month.