Loudoun County VA Real Estate Market Report Oct. 2008.
LOUDOUN COUNTY VA HOME BUYERS WIN WHEN THEY ARE PREPARED WITH THE FACTS.
FACT: Prices for homes in Loudoun County are about 20% lower in 2008 from 2007 prices.
HOMEFINDERS.COM BELIEVE THAT AN INFORMED HOME BUYERS IS A SMART HOME BUYER.
Loudoun County Real Estate market report for October 2007 compared to October 2008.
SOLD Price in Loudoun County (all home types, single family, town home, condo).
- Average SOLD Price October 2008 - $375,151.
- Average SOLD Price October 2007 - $489,228.
- Average SOLD Price October 2007 to October 2008 DOWN 23.52%.
- Average Units Sold October 2007 to October 2008 UP 24.67%.
- Average Days On The Market October 2007 to October 2008 DOWN 18.93%.
- Average Sale Price as a percentage of List Price, 93.26% for October 2008.
The average SOLD price for Single Family Detached Homes in October 2008 was $524,046.
The average SOLD price for Town Homes/Condos in October 2008 was $290,422.
EXPLANATION:
1, 2, 3. Lower prices reflect the increase in the number of bank owned properties and short sales which are usually discounted from market prices.
4. Higher number of units sold reflects the lower list prices and affordability index for first time home buyers.
5. Shorter Days on the Market reflects the trend of more sale for lower priced units.
6. Reflects the ability of buyers to negotiate even discounted list prices.
EXAMPLES OF HOMES FOR SALE IN THE AVERAGE LIST PRICE RANGE:
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This home is a Short Sale. |
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| Property Details for listing # LO6794316 | ||||||||||||
Listing Office: Weichert, REALTORS |
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Property is bank owned. |
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| Property Details for listing # LO6930572 | ||||||||||||
Listing Office: I-Agent Realty Incorporated |
MAP OF LOUDOUN COUNTY
Courtesy, Lenn Harley, Broker, Lenn Harley, Homefinders.com, 800-711-7988, E-Mail.
Loudoun County VA
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