Avery-Hess, Realtors Blog » Ashburn

Ashburn, VA Market Report – 12/6/11

Kristin Maynard — Tue, 06 Dec 2011 22:27:57 +0000

Wow, when we last looked at Ashburn and Loudoun County in July we saw huge gains for the County and Ashburn. Now the news is not so good. Even though the average sales price continues to lead the County’s $391,485, sales volume has dropped 10% since October, 2010, the County has dropped 15%.

	October 2010	October 2011	% change
Total Sales Volume	$39,891,600	$35,513,887	-10%
Sold units	100	85	-15%
Avg. sold price	$398,916	$417,810	4.7%
Avg. DOM	46	84	31%
Active listings	338	337	-%

New home sales in the 20148 zip code continue to fuel the Loudoun County’s Market, however, the builders enjoying a great Summer market began building spec homes, which have not sold as quickly as they anticipated.

The uncertain National economy has had a negative effect on our local Northern Virginia market, even though our unemployment remains the lowest of any major Metropolitan areas in the Country. Interest rates continue to remain record low levels and New Home Builders want to get that inventory off the market by the end of the year, so think positive and Buy Now!

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles-Westfields Regional Office, Centreville, VA 20120

Ashburn, VA Market Report – 9/12/11

Kristin Maynard — Mon, 12 Sep 2011 21:06:43 +0000

Wow, Ashburn leads the market in Loudoun County. Sales volume has a dramatic increase over June, 2010, the average sales price is 11% above that of Loudoun County’s $428,522 as well as being well above Northern Virginia’s average sales price of $439,728, while the number of active listings remains relatively stable.

Statistics for zip codes 20147 and 20148:

	July 2010	July 2011	% change
Total Sales Volume	$50,987,540	$58,642,732	15%
Sold units	99	123	24%
Avg. sold price	$515,020	$476,770	-7.4%
Avg. DOM	63	43	-31%
Active listings	337	360	6.8%

All indications show that the Ashburn market will enjoy a steady increase in value. Even though new home builder sales have decreased over the past month or so, the Ashburn market continues to be one of the “hot beds” of new construction in Northern Virginia, with new single family and town homes leading the charge in the Brambleton area.

If you are considering selling your home, now is the time! Choose from well known, reputable companies, interview 2 or 3 Realtors active in your market, and compare their marketing plans, internet exposure, and social media interaction.

Information obtained from statistics supplied by Metropolitan Regional Information Systems and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles-Westfields Regional Office, Centreville, VA 20120

Ashburn, VA Market Report – 8/3/11

Kristin Maynard — Wed, 03 Aug 2011 20:45:21 +0000

Wow, Ashburn leads the market in Loudoun County.

Sales volume has a dramatic increase over June, 2010, the average sales price is up nearly 10%, and number of active listings remains relatively stable.

Let’s look at the stats for zip codes 20147 and 20148:

	June 2010	June 2011	% Change
Total Sales Volume	$68,310,030	$77,247,525	13%
Avg. Sold Price	$440,710	$482,797	9.6%
Avg. DOM	38	55	45%
Active Listings	344	358	4%

All indications show that the Ashburn market will enjoy a steady increase in value. The Ashburn market is one of the “hot beds” of new construction in Northern Virginia, with new single family and town homes leading the charge in the Brambleton area.

Ashburn, VA Market Report – 5/2/11

Kristin Maynard — Mon, 02 May 2011 19:08:49 +0000

Now that the spring market is in full swing, there is a noticeable increase in new properties on the market as well an increase in properties going under since February. The most favorable part of these statistics is that even though the number of active listings has increased since last year, the average sales price has also increase nearly 18%!

	March 2010	March 2011	% change
Total Sales Volume	$51.932,089	$33,963,941	-34%
Avg. sold price	$384,682	$452,852	17.8%
Avg. DOM	40	60	50%
Under Contract	342	192	-32%
Active listings	274	304	10%

All indications show that the Ashburn market will enjoy a steady increase in value. We must remember that March of 2010 contained a larger number of foreclosures and short sales, and was driven largely by the first time buyer tax credit, particularly is the under $400,000 price range.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Avery-Hess, Realtors.

Ashburn, VA Market Report – 11/29/10

Kristin Maynard — Mon, 29 Nov 2010 18:50:14 +0000

Ashburn is following the normal seasonable pattern of softening prices and reduced inventory as we approach the holiday season. For some very focused buyers, the next six weeks will be the best time of year to buy a new home since there are fewer buyers in the marketplace to compete with. The stats and analysis for Ashburn are as follows:

Homes for sale: 466 (down from 495 in September and up from 391 one year ago)
Homes sold: 90 (down from the 101 units in September and down from last year’s 102 units)
Average sold price: $410,646 (down from $445,265 last month but still up from $382,665 last year)
Average days on market: 50 (amazingly stable in the 40-50 day range for the last year)

When you read in the paper about falling real estate prices nationwide, they are NOT talking about Ashburn. This area has had steadily rising prices for almost two years now. Not only are the prices stable to rising, it is also a genuinely great place to live!

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

Ashburn, VA Market Report – 10/19/10

Kristin Maynard — Tue, 19 Oct 2010 20:17:29 +0000

Ashburn remains a stable and attractive residential real estate market. The stats and analysis are as follows:

Homes for sale: 494 (same as in August and up from 404 one year ago)
Homes sold: 101 (down from the 117 units in August but up a smidge from last year’s 97 units)
Average sold price: $435,266 (down from the statistical spike of $460,373 in August but up from $424,550 last year)
Average days on market: 47 (amazingly stable in the mid 40s for the last year)

Ashburn is a very stable market based on the stats and what agents are telling me. After the financial panics, people get back to the basics and ask, “where is a good place to live?” Then they go buy a home there. This is exactly what we have seen in Ashburn for the past 21 months since prices bottomed in November 2008.

The market place has normalized in the absence of any more government intervention. Hello Congress did you hear that! Consumers can actually make good decisions on their own.

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

Ashburn, VA Market Report – 8/31/10

Kristin Maynard — Tue, 31 Aug 2010 18:13:07 +0000

Ashburn is still an active and hot residential real estate market. The stats and analysis are as follows:

Homes for sale: 511 (same as in June and up from 440 one year ago)
Homes sold: 88 (down from the tax credit induced 133 units in June and down from last year’s tax credit induced 121 units)
Average sold price: $515,823 (a statistical spike over last month’s $444,119 and last year’s $435,855)
Average days on market: 61 (very close to last year’s 60 days)

The increase of the trade up market, in which homeowners with equity sell and then buy a more expensive property, has resulted in a larger number of higher priced properties being sold. More than we have seen in a long time causing the averages to go up.

Currently, we have a five-month supply of houses to purchase. This is up from the four-months supply we had a few months ago. Remember that a six-month supply is considered a balanced market. If we can avoid another government housing stimulus, the market will have a chance to get back to “normal.”

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

Ashburn, VA Market Report – 7/19/10

Kristin Maynard — Mon, 19 Jul 2010 21:22:10 +0000

Supply and demand are both growing in Ashburn, reflecting a growing economy and increased consumer confidence. According to the statistics, we have a balanced market with just under a four month supply. The conventional wisdom is that a balanced market has a six month supply. So the current direction on prices is still indicating up.

Homes for sale: 511 (up from 497 in May and up from 433 one year ago)
Homes sold: 133 (about the same as May’s 131 and up from 123 in May 2009)
Average sold price: $441,119 (down a bit from last month at $451,953 and about the same as $440,838 in May one year ago)
Average days on market: 27 (the same as in May, but way down from 62 one year ago)

27 days on the market! A few years ago a 27 day average would have prices rising two percent or more per month. While fundamentals never change, there are times in every kind of market when things just get a bit out of whack. It happened in 2003-2006 when prices got bid to very high levels. While the statistics reflect a stable market, which is based on a comparison of month to month and one year ago, if we look back 18 months, we can see how far prices have come from their bottom in December 2008.

But c’mon, 27 days on the market?! When market times get that low and inventory is under four months, it is safe to forecast big price jumps. So that is my forecast.

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

Ashburn, VA Market Report – 6/2/10

Kristin Maynard — Wed, 02 Jun 2010 14:53:54 +0000

After rising steadily from the bottom of the price cycle in December 2008, Ashburn, based on these statistics, is the rock of stability, despite this big one month spike in average sales price.

Homes for sale: 516 (up from 458 last month and up from 479 one year ago)
Home sold: 116 (up from 109 last month and up from 93 in April 2009)
Average sold price: $429,339 (big jump from last month at $405,379 and $406,660 one year ago)
Average days on market: 55 (up from 49 days last month but down from 84 one year ago)

Supply is growing, but so is demand. A six month supply is considered a balanced and healthy market. At the present rate of sales Ashburn has just over a four month supply. That is bullish for rising prices. And with interest rates at or below 40 year lows, there is still room for this rally to run.

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com

Ashburn, VA Market Report – 4/27/10

Kristin Maynard — Tue, 27 Apr 2010 16:15:22 +0000

Here’s a quick snapshot of the market in Ashburn, Virginia

Homes for sale: 458 (up from 420 last month and down from 479 one year ago)
Home sold: 109 (up from 70 last month, up from 87 in March 2009)
Average sold price: $405,379 (almost unchanged from $402,345 last month and $402,019 one year ago)
Average days on market: 49 (down from 59 days last month and down from 75 in March 2009)

After rising steadily from the bottom of the price cycle in December 2008, Ashburn, based on these statistics, is the rock of stability.

It’s that time of the year when more houses come onto the market and this year is no exception. Ashburn has a great selection of homes and almost all of them are under 15 years old–the approximate age of the entire area. The greatest thing about Ashburn is that it is flush with such a huge diversity of homes, an individual or family can keep trading up or down in size and style without ever changing grocery stores! You can have change and stability at the same time.

Market report provided by David Hess, Executive Vice President, Avery-Hess, Realtors.

Search for Homes in Ashburn, VA: www.averyhess.com