Double Digit Negative Listing Inventory-Impact April Loudoun County Real Estate Market

By
Real Estate Agent with Samson Properties VA0225077251

Real estate market in the Northern Virginia area for past couple years has seen an early spring market madness. We started heating up in January 2018 and went full-blown by the time April 2018 arrived.

The strong real estate market in Loudoun County is reflected by the high volume of sale, continued anxiety of rising interest rate and a strong local job market.

Inventory:

April we have one of the most active lists of homes in the market volume yet down double digits compared to 2017 April. Here is a snapshot of the inventory in the market since January 2018. 

 

Sales Volume:

With the high demand of the homes comes the sales volume. We saw an increment from year to date, however, percentage wise it was lower compared to March 2018 Loudoun County real estate market. 

List price compared to Original Sales price:

I personally like to review year to year and month to month this number. This reflects what buyers are offering compared to list price of the home. On average Loudoun County, home buyers offer 98% of the original list price. 

Days on the market:

This number is a good indication of average how long the home takes to sell. As we are at the peak of our housing market in the Loudoun County the number has shrunk to 32 days. In some cases, the home flies off within a weekend.

New Construction in Eastern Loudoun County of Ashburn, Aldie, Leesburg, Chantilly and Sterling area:

With a low inventory in the resale home, many buyers are forced to settle for a new construction home that will be delivered in months to come. Incentives with the hot spring market shrink along with homesites that builder will open up to keep up with the demand which leads to minimal negotiation power a buyer can hold.

 

 

Snapshot of the housing market in Loudoun County including Ashburn, Aldie, Dulles, South Riding, Chantilly, Broadlands, Sterling, Potomac Falls, Leesburg and Landsdown area of Eastern Loudoun.

 

 

Ritu Desai is top real estate agent with Samson Properties in Northern Virginia serving Fairfax & Loudoun County for over 14 years with $100 million + in sales volume experience. If you are planning to buy a home or sell a home team up with Ritu Desai for all your residential real estate needs.

 

 

Posted by

 
                             
Associate Broker
MRP, ABR, ePRO

NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 
Residential real estate agent serving Northern Virginia in Fairfax & Loudoun county over a decade and almost $100+M in sales volume experience. 


 
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Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good  morning, Ritu Desai new construction is selling well here, but we don't have much land available.... 

May 15, 2018 07:27 AM #1
Rainmaker
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James Grant
Asheville, NC

Good Morning, Ritu, Great Topic. Thanks for sharing!

May 15, 2018 08:52 AM #2
Rainmaker
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Bob "RealMan" Timm
Alliance Real Estate - Minot - Minot, ND
Bob Timm, Broker Associate, Alliance Real Estate

Thank you for the easy to read and unnderstand report Ritu Desai .

May 15, 2018 09:48 AM #3
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Rainmaker
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Ritu Desai

Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949
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