After a relatively active real estate market over the summer, it seems everything came to a halt in September-at least in the upper price ranges. The market data confirms this. According to the Metropolitan Regional Information Systems, Inc.-MLS Resale Data, in the Ashburn zip code of 20147 during the period from 9/01/08-9/30/08 there were 24 active listings over $800,000 and not one sold during that time. Overall in the 20147 zip code there were 310 active listings with 59 selling during the month of September which basically represents a little over 5 months of inventory.
The Sterling/Potomac Falls zip code of 20165 fared a little better. During the period of 9/1/08-9/30/08, there were 167 active listings with 33 homes selling during the same time period. This represents a 5 month invenotry. Unlike Ashburn, the upper price ranges did still have some activity in September. During the month of September, there were 6 active listings in the 20165 zip code listed above $800,000 with two homes selling during that time over $800,000.
Hopefully, things will settle down and activity will pick up over the next few months. There definitely are some great buys out there.