The townhouse market in the 20147 zip code of Ashburn is getting exciting! The number of townhouses selling per month has been climbing since the bottom in December of 2007 with only 15 homes selling that month. In March, 2008, 36 townhomes sold as of 4/3/08. I would imagine a few more might trickle in as agents enter in sales for the last days of the month. It will be interesting to watch to see if the number of townhomes sold crosses the average sale price line. The average sale price for Ashburn townhouses has decreased much more aggressively than Sterling townhomes which might be the reason the sales activity has been higher. The Ashburn detached home market also improved over February's numbers for both units sold and average sales price.
Good news for the detached home market in the 20176 zip code of Leesburg if it can maintain the momentum. Detached home sales in this zip code are up 46% from February, 2008 to 28 homes sold in March. This is the most detached homes in this region to sell in one month since the credit crisis in August/September 2007. It will be interesting to see what happens in April. The average sales price for detached homes has been all over the place so not really any stability there. The beast of Leesburg is the inventory. There are 231 detached homes currently active and if 28 homes per month were to continue to sell than the inventory is only at 8.25 months. Unfortunately, the average number of detached homes to sell this year is 17 homes per month which means that there are 13.5 months of inventory. The townhouse market appears to continue it's decline. Both the number of townhomes sold as well as the average sales price dropped a little in March, 2008 from the prior month.
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