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What's Going on in the Loudoun County Market?
Manage episode 152632055 series 1066191
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As always, I want to sort through some market data to illustrate what's going on in the Loudoun County market. We have about three months of supply. A balanced market would have six months, so Loudoun sits in a strong seller's market. New listings are also high; far above five-year averages. Lots of new homes are a big part of this.
As a seller, days on market is a good indicator of expectations. Median days on market is 28 days, which is fast, but the average days on market is more than 70. These two figures are so far apart because some houses sat on the market for a long time.
What this tells me is that the best houses sell quickly, but just because it's a seller's market doesn't mean your home will sell quickly. Even some specific areas have an extremely strong seller's market while other areas have more of a balanced or buyer's market, if you drill down to the subdivision level.
If you have any questions about your specific situation or you just want to know your home's value, reach out to our team today. Give us a call - we look forward to talking to you.
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