REAL ESTATE STATISTICS LOUDOUN COUNTY LUXURY HOMES FOR SEPTEMBER 2013

By
Real Estate Agent with Keller Williams Realty
https://activerain.com/droplet/45yy

 REAL ESTATE STATISTICS LOUDOUN COUNTY LUXURY HOMES FOR SEPTEMBER 2013

These statistics are a reflection of September Beacon Hill 2013 Statistics for Loudoun County Homes for Sale in the $1-2 million dollar price range on less than 5 acres. 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.

LOUDOUN COUNTY LUXURY HOME SALES IN SEPTEMBER 2013

In September 2013 there were a total of 2 homes sold in this price range in Loudoun County. This was down from the 6 August sales. Of those sold both were single family detached homes.

LOUDOUN COUNTY LUXURY HOME AVERAGE SALE PRICES IN SEPTEMBER

The average price for these homes was $1,112,500 down 2% from from the previous month.  Don't get hung up on the change in average price, its a small sample size and not statistically significant.

 

 

AVERAGE DAYS ON THE MARKET FOR LOUDOUN COUNTY LUXURY HOMES FOR SALE IN SEPTEMBER


The  Days on the Market  for September averaged 116 days; down from 186 days from last month. 

 

ABSORPTION RATE STATISTICS FOR LOUDOUN COUNTY LUXURY HOMES FOR SALE SEPTEMBER 2013

So what is absorption rate? Absorption Rate is how many homes are sold in a given period of time. So if 120 homes sold in the

Creighton Farmlast 12 months, then the absorption rate is 10 homes per month. So why is this important?  It is only through absorption rate that one can define a market in terms of a Sellers 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.

 

 

 

LOUDOUN COUNTY LUXURY HOME REAL ESTATE STATISTICS - ABSORPTION RATES

Okay so the absorption for Townhomes is: 5 sold in the last 12 months or .4 per month, this can be due to constrained supply in that, there are not many $1 mil. plus townhomes.  The absorption rate for Single family detached homes is: 45 sold in last 12 months or 3.8 per month.

 

Shenstone PUTTING IT ALL TOGETHER!

So to make sense of all this you need to know the current inventory of homes so, as of September 16th  here is the scoop! There are 4 Townhomes  on the market which represents about 9.6 months of inventory and  there are 43 single family homes on the market that represent about 11.5 months of inventory, down from almost 17 months in June!

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 both the townhome segment of the market  and the Single Family Detached segment continues to be a strong Buyer's Market.  

 

 

 

OTHER INTERESTING SALE FACTS:

  • The average seller concession was $2,322 with a low of zero and a high of $25,000.
  • The average Days on the Market over the last year was 96, not bad for this price range. 
  • Homes sold for 94.62% of their list price...so its important to price homes properly from the start.
  • Of the 50 homes sold in the last year in this price range 7 were distressed sales or about 14%, which is higher than the stats for all price ranges in the county.

  

WHO DO YOU KNOW THAT NEEDS HELP SELLING (or buying for that matter) A HOME RIGHT NOW.....PLEASE GIVE US A CALL SO WE CAN HELP!

CLICK HERE FOR A MARKET VALUATION OF YOUR HOME

CLICK HERE FOR LUXURY HOMES FOR SALE IN LOUDOUN COUNTY!

CLICK HERE TO SEARCH THE MULTIPLE LISTING SERVICE FOR FREE!

CLICK HERE TO SEE GREAT STUFF ABOUT LOUDOUN COUNTY

 

 Thats about it for now for Loudoun County Luxury Home Statistics for September. See you next month! 

 

 

 

 

 

 

 

 

Posted by

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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Virginia Loudoun County
Tags:
real estate statistics
loudoun county
loudoun county homes for sale
ritchey
loudoun luxury homes

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
25,004

Dan Ritchey

Ask me a question
*
*
*
*
Spam prevention