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LOUDOUN COUNTY REAL ESTATE MARKET DYNAMICS MARCH 2015

1,840 residential homes were listed “For Sale” in our market. Only 466 homes sold during MARCH.That’s a 4 month supply of homes if no other homes come on the market.1,086 additional homes came on the market, increasing inventory by 620 homes!

312 of those homes were priced $800,000 +. Only 26 of these homes sold during MARCH.That’s an 12 month supply if no other homes come on the market.104 additional homes came on the market, increasing inventory by 78 homes.

484 of those homes were priced $600,000 - 799,999. Only 85 of these homes sold during MARCH.That’s a 5.7 month supply if no others come on the market. 240 additional homes came on the market, increasing inventory by 155 homes.

590 of those homes were priced $400,000 - 599,999. Only 148 of these homes sold during MARCH.That’s a 4 month supply if no others come on the market.356 additional homes came on the market, increasing inventory by 208 homes.

426 of these homes were priced $200,000 - $399,999. 192 of these homes sold during MARCH.That’s a 2.2 month supply if no others come on the market.363 additional homes came on the market, increasing inventory by 171 homes.

Sales have dramatically increased 43% from February to MARCH 2015 causing the monthly supply of homes to drop a whopping 20%! The decrease in inventory is seen across all price ranges, most notably in the range of $800,000+, the inventory decreased from 25 months supply to 12! Though this spring surge of buyers have scooped up “old” inventory, Sellers continue to flood the market. Buyers are telling us that PRICE is the most critical factor in increasing property value and getting showings and sales. Here’s the good news...466 homes are selling each month. Yours can be $OLD if you’re willing to price competitively and expose it to the Brokerage community where 93% of all homes are $OLD each year! Call me today and let’s get yours $OLD!