If you follow my real estate market report blogs you might have read the sluggish trend in the housing market in the Loudoun County area for the past year.
While reviewing the statistics from 2015 compared to 2014 real estate market in Loudoun County, it does not surprise me that the housing market was very flat.
We did have some good months were real estate market felt very strong. New construction in the Loudoun County area of Ashburn, Aldie, Chantilly, Dulles, Leesburg & Sterling had a similar experience. Some months were very strong while most parts of the year felt a very slow housing market. From a local Loudoun County Realtor perspective I call the housing market a healthy and balanced real estate market in Loudoun county area.
If you were a home seller in the Loudoun County area you could be frustrated with the slow market and/or low ball offers. If you are home buyer in the Loudoun county area you are in a strong position to negotiate and purchase your dream home.
If you are home buyer in the Loudoun county area you are in a stronger position to negotiate and purchase your dream home.
The strength of the Loudoun county real estate market was the Average Sales Price to Original list price of the home we saw a close average of 97.10%. What that means for the housing market? It means if the listing was listed at say at $400000 the Average SOLD TO LIST PRICE of the home: $388400 (Approx. 97.10%). Which means that the market did not go that low in the value of the home. Other supporting numbers were the unchanged Median sales price and a small negative Average Sold Price.
The weakness of the Loudoun County real estate market can be read from the average days on the market 60 days compared to 2014: 44 days on the market. We carried a larger inventory throughout the year.
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