Random Loudoun County Real Estate Statistics

Here are a couple of statistics I discovered while analyzing the current marketplace in Loudoun County:

The average price of a home sold this year (2008) is $105,000 less than the same time period last year (2007).

There have been 255 more homes sold this year versus last year.

43% of homes sold in July in Sterling zip code 20164 have sold for more than list price (18 of 42).

An average of 17.667 homes have sold in the last 60 days in Loudoun County.

Current supply in Loudoun County is 124 days, just over 4 months.

Average list price of a home in Loudoun County when it goes under contract (last 90 days):  $380,389

Average list price of current active listings in Loudoun County (not under contract):  $538,269

Comments

[Jeremy Hart]

Tony, what do you attribute the higher # of units sold vs. lower sales price to? Foreclosure and short sales?

[Tony Arko]

Jeremy, definitely the foreclosure activity is the cause of this stat. The buyers at the low end are very active and they are looking for the bargains that the foreclosure properties represent. Short sales that actually close are still too small a subset to have a meaningful effect.

[Property in Brazil]

Hi,

This is good statical information provided here.
I agree with Tony that the buyers at the low end are very active and they are looking for the bargains that the foreclosure properties represent.