Loudoun County Real Estate Statistics and News

Winery Thursday in Loudoun County - Breaux Vineyards

Another unbelievably nice day on Thursday forced us back out to another Loudoun County vineyard - Breaux Vineyards in Purcellville.  With over 100 planted acres on a 404 acre estate, it is definitely one of the biggest vineyards in the area and the views are awesome.  It reminded us a little of the views from the vineyards in Sonoma.

When we got to the vineyard, Alyssa was our host and she served up 14 different wines for our $10 tasting.  Included on the list was a 2002 Merlot that was awesome.  They also make a wine from the Italian Nebbiolo grape.  One of the great things about going to the vineyards and wineries in this area is the diversity of wines being made.  Last week it was a Chambourcin from Fabbioli.

The views were spectacular, the wines were excellent and the weather was incredible.  Visiting the wineries in Loudoun County is a great way to spend an afternoon.  If you would like to join us on our Thursday afternoon excursions, join our Facebook Group or drop me an email.  We also welcome suggestions for a winery to visit in the coming weeks.

Quick Statistics for Loudoun County Real Estate

Here are some statistics about the Loudoun County real estate market that I follow on a regular basis as well as some interesting trends that tell a lot about the current market conditions.  

Current Inventory - 922  

At the beginning of August this number went below 1000 for the first time in 3 years and it has continued to go down.  At the start of the year, this number was 1256.

Homes sold since Jan 1 - 3125

This is the lowest number since 2000.  Last year there were 3306 sold in the first 8 months.  2007 there were 3312.  Contrary to what you read in the papers, home sales are not going up, they are just not going down very much.  FYI, in 2005 5291 homes were sold between Jan and Aug.

Pending Home Sales - 1241

This is the number of homes under contract but have not yet settled.  That means there is a backlog of over 3 months of homes waiting to close.  This number has been growing due to the incredible length of time it takes a bank to approve short sales.  775 of the 1241 are short sales. 

Percent of Sales that are Distressed - 38.2%

Of the homes that have sold in Loudoun County this year, 1117 have been classified as foreclosures or short sales.  That number has stayed relatively constant throughout this year but the mix has shifted to more short sales as the year has progressed.