The spring selling season is upon us…so what does that mean for inventory levels out in western Loudoun? Here’s a look at the single family home market in Hamilton, Purcellville, Round Hill, and Lovettsville…bear in mind that we are looking at smaller sample data for these areas, so a small uptick can look like a big swing in the market.

How does this compare with what you are seeing in your neighborhood?

Cheers,
Heather

The one question that I get asked on a daily basis is ‘how’s the market?’…I took a look at the eastern part of Loudoun County earlier, so here, we are going to look at how real estate in the western towns is faring. Median price seems to be on the upswing everywhere except Lovettsville, while inventory is pretty flat everywhere (but is still low, compared to prior years).

Hamilton Single Family Homes:

Purcellville Single Family Homes:

Round Hill Single Family Homes:

Lovettsville Single Family Homes:

Thinking of listing your home for sale and want more detailed information? Get a clickable market report tailored to your home address, emailed to you.

Cheers,

Heather

While inventory has clearly increased in the last month across all of western Loudoun, inventory levels on a whole are still pretty low, especially compared to January of 20o8 and 2009.   Typically we start to see an increase in listing inventory at this point in the year, with market interest increasing with the warmer temperatures.  Would you like to know how the market looks for your home? Just fill out the form below for a customized report. And as always, if you have questions about the market, are considering selling or buying, or just want to chat about your homeowning goals, please call me at 571-233-5491 or email me at heather@locomusings.com. It’s what I’m here for.

Cheers,
Heather

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Starting in 2007, we can see that Western Loudoun was still in a gentle median price decline for single family homes, continuing into 2009.  Hamilton’s median home price has been decently stable since July of 2009, while Purcellville and Lovettsville continued to drop until January of this year, but have since stabilized.  Round Hill, on the other hand, has seen small fluctuations since basically bottoming in the spring of 2008.

I’m hoping the price stability continues through the winter, and we will see a typical uptick of about 5% for the spring market.  Time will tell; and I will certainly keep monitoring the statistics. Stay tuned.

Cheers,

Heather

Cheers,

Heather

Cheers,
Heather

Hamilton

Purcellville

Round Hill

Lovettsville

Cheers,
Heather

Yesterday I posted on LoCo Market Stats about how median price in Loudoun hadn’t dipped in the summer as I expected. From the chart above (black line is single family homes, orange is combined condo/townhome stats) you can see that pricing has stayed relatively steady, after squeaking upward slightly toward the end of the first time homebuyer tax credit.  I thought I’d take a closer look at the towns in Western Loudoun County to see if they followed this trend line too:

As you can see, with a little fluctuation, they have as well.  If anything, single family home prices have *risen* slightly in western Loudoun since the spring. The black line for median price of condos and townhomes shows a bit more movement, but that’s because the number of non-single family homes sold in any of these towns are not enough, statistically speaking, to really show a trend.

So if the first time homebuyer tax credit was propping up our market, shouldn’t prices have tanked a bit after it was over?

Questions about your particular neighborhood’s trend or your home’s value? Please ask, it’s what I’m here for.

Cheers,
Heather

Cheers,

Heather

Now that the first time homebuyer tax credit has ended, we should start to be able to discern the real health of the market here. Right now, inventory is up, days on market is down considerably. Median home price, after peaking in mid-April, is now back to about where it was to start the year, and has remained pretty consistent outside of that two week blip.  We will probably see pricing adjust down soon, until the high amount of inventory gets absorbed; this will cause days on market to rise as well.   If you are thinking about buying or selling now, please reach out so that I can give you market advice that is more tailored to your specific situation.

Cheers,
Heather