2020-06 -- Real Estate of Northern Virginia - The Route 7 Corridor Report - June 2020 - Real Estate Market Trends - Michele Hudnall
Real Estate of Northern Virginia - The Route 7 Corridor Report - June 2020 This is a monthly report of the Northern Virginia Real Estate market, specifically, The Route 7 Corridor of Fairfax and Loudoun Counties. Weekly I post a video of current market conditions on Tuesday's and will post the monthly report by the 10th of each month as the numbers finalize in the MLS (Bright). The numbers come from the MLS (Bright), opinions are my own. This represents the market up to 5 Bedrooms keeping the numbers sub $1.5M and out of the luxury, custom market.
Real Estate of Northern Virginia - The Route 7 Corridor Report - June 2020
This is a monthly report of the Northern Virginia Real Estate market, specifically, The Route 7 Corridor of Fairfax and Loudoun Counties. Weekly I post a video of current market conditions on Tuesday's and will post the monthly report by the 10th of each month as the numbers finalize in the MLS (Bright).
The numbers come from the MLS (Bright), opinions are my own. This represents the market up to 5 Bedrooms keeping the numbers sub $1.5M and out of the luxury, custom market.
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
LOUDOUN | TOWNHOMES<br />
HIGHLIGHTS<br />
Year Over Year<br />
<strong>Real</strong> <strong>Estate</strong> <strong>of</strong> <strong>Northern</strong> <strong>Virginia</strong><br />
<strong>The</strong> <strong>Route</strong> 7 <strong>Corridor</strong> <strong>Report</strong> | <strong>June</strong> <strong>2020</strong><br />
+ 3.40%<br />
VALUE<br />
Average Sale Price<br />
- 5.69%<br />
SALES<br />
Closed Sales<br />
+ 10.18%<br />
MARKETING TIME<br />
Days on <strong>Market</strong><br />
+ 15.08%<br />
+ 00.17%<br />
NEGOTIABILITY<br />
Subsidy –<br />
Sale to Orig List Price Ratio<br />
• Townhomes in the $450K with 3 Beds<br />
dominate the Loudoun townhome market<br />
with Ashburn and Leesburg leading the<br />
market and Sterling remains the most<br />
affordable option.<br />
• YTD Sales are up by 13% and YoY Sales are<br />
down by 6% with a rising price point YoY and a declining Month over Month price., likely stabilizing.<br />
• Prices are rising by 6% YTD and 3% YoY,<br />
however, Days on <strong>Market</strong> is climbing by<br />
10% YoY. Given the declining price and<br />
increasing DOM, price stabilization may be<br />
occurring.<br />
• 39% have been on market for >20 Days<br />
and 61% have been on market for 20 Days<br />
or less. Again, new to market, well priced<br />
and good condition homes are moving<br />
faster.
Change language