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Sterling Real Estate Market Statistics (20164, 20165, 20166) - September 2008

By
Real Estate Agent with Market Advantage Real Estate

Here are the September 2008 statistics for the Sterling real estate market (20164, 20165 and 20166 zip codes):

Sterling - 20164 - September 2008

  • New listings = 126. This is a 7 percent decrease in new inventory as compared to September 2007
  • Solds (Under Contract) = 114. This is a 317 percent increase in buyer demand as compared to September 2007

Sterling - 20165 - September 2008

  • New listings = 52. This is a 27 percent decrease in new inventory as compared to September 2007
  • Solds (Under Contract) = 31. This is a 172 percent increase in buyer demand as compared to September 2007

Sterling - 20166 - September 2008

  • New listings = 11. This is a 45 percent decrease in new inventory as compared to September 2007
  • Solds (Under Contract) = 15. This is a 214 percent increase in buyer demand as compared to September 2007

The 20164 zip code had the largest increase in buyer demand out of the three zip codes in Sterling. In fact, Sterling's 20164 zip code had more sales and the highest increase in buyer demand in September 2008 out of any zip code in Loudoun County.

But the rate at which new listings came on the market in the 20164 zip code remained relatively steady as compared to last year. This is mostly due to the large number of sub-prime loans and distressed properties found in that zip code which are helping fuel new short-sale and foreclosure/bank-owned listings.

Also.. notice that there were more sales in that zip code than there were new listings. That's great for sellers and the real estate market in general, but not-so-great for buyers looking in that zip code.

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