REAL ESTATE STATISTICS ASHBURN HOMES FOR SALE 20147 SEPTEMBER 2013 CONTINUE TO REFLECT A SELLER'S MARKET
These statistics are a reflection of September 2013 Statistics 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 SEPTEMBER
In September 2013 there were a total of 79 homes sold in the 20147 zip code. This is was down from August sales of 88. Of those sold 11 were condos, 41 townhomes and 27 were single family detached homes. The 27 single family homes sold was down from 35 the month before. The number of Condos sold was up 1 unit from the previous month and townhome sales were 41 down from 43 the previous month.
AVERAGE ASHBURN HOME SALE PRICES IN SEPTEMBER
The average sale price for Condos was $266,012 up 6% from the previous month. Townhomes average was $391,886 up 1% from the previous month. The average Single Family home price was $637,040 up 8% from the last month.
ITS A GREAT TIME TO SELL!
AVERAGE DAYS ON THE MARKET FOR ASHBURN HOMES FOR SALE IN SEPTEMBER
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 32 days last month to 38 days in September; For townhomes Days on the Market increased from 14 days in August to 15 days in September; Last but not least is Days on the Market for Single Family homes which increased from 23 days in August to 26 Days in September.
ABSORPTION RATE STATISTICS FOR ASHBURN HOMES FOR SALE SEPTEMBER 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: 125 sold in the last 12 months or 10 per month. The absorption rate for Townhomes is: 506 sold in the last 12 months or 42 per month. The absorption rate for Single family detached homes is: 416 sold in last 12 months or 35 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 October 1st here is the scoop! There are currently 18 condos on the market so that represents about 1.7 months of inventory at the current absorption rate. There are 41 Townhomes on the market which represents about 1 month of inventory and finally there are 56 single family homes on the market that represent about 1.6 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.
That's about it for Ashburn Homes for Sale 20147 for September. See you next month!
LIFE IS GOOD!
Oh by the way... I am never too busy for your referrals!