One of the statistics that I don’t look at very frequently is median price per square foot, because it tends to not trend up or down very much in the short term. But as we come into the spring market, it’s helpful to know how different zip codes compare. Looking in Ashburn at single family homes, you can clearly see that it is less expensive (per square foot) to live in the 20147 zip code than it is for 20148. And apparently, the price is trending up in 20148.

Single family homes

The same holds true for condos and townhomes; 20147 is more affordable (and stable, from a price standpoint) while 20148 is more expensive and trending higher.

Condos and Townhomes

If you are thinking about making a move this spring, and you would like to see statistics specific to your neighborhood, or the neighborhoods you are interested in, just hit the Ask Heather button and let me know what you are looking for.

Cheers,
Heather

We haven’t looked at stats tables for Ashburn in a while, so let’s see what happened with the market last week while we had a whole bunch of snow on the ground:

90-day stats for Single Family properties in ASHBURN, VA as of February 26, 2010
Median List Price	$597,062	Average List Price	$638,741
Total Inventory	184	Price per Square Foot	$160
Average Home Size	3,725	Median Lot Size	10,383
Average # Beds	4.31	Average # Baths	4.26
Homes Absorbed	9	Newly Listed	10
Days on Market	201	Average Age	7

90-day stats for Condo properties in ASHBURN, VA as of February 26, 2010
Median List Price	$300,342	Average List Price	$300,346
Total Inventory	208	Price per Square Foot	$160
Average Home Size	1,803	Median Lot Size	n/a
Average # Beds	2.88	Average # Baths	3.16
Homes Absorbed	13	Newly Listed	16
Days on Market	149	Average Age	10

Interesting..look at the “homes absorbed” versus “homes listed” numbers for both single family homes and condo/townhomes….when they match like that, it means that homes are selling as quickly as they hit the market.  The average days on market still feels high to me when we are seeing that kind of market activity, I attribute it to the short sales that skew the data. If there was a way to separate out “traditional” sales (not a foreclosure or short sale) I bet we would find very short days on market, bordering on seller’s market, because of the low amount of inventory available.

Want market data specific to your neighborhood and home type?  Try out the What’s My Home Worth function to get a customized report. (It’s great, has up to date info, clickable listing information and maps on active, under contract, and sold listings.)

Cheers,

Heather

The spring market is due to start any moment here, just as soon as anyone can dig out from under all of this snow and start selling houses…so let’s take a peek at where the median price is for the different zip codes in Ashburn (keep in mind that condos really means condos and townhomes)…

Welllll, hello stability! Consistent across both zip codes, and for both single family homes and condo/townhomes, median price has stayed very stable since last March, with little variation at all.  Maybe we should peek at inventory, then…

Hmmm. That looks like a normal spring rise in inventory, then dipping back down as summer turns to fall (except for condo/townhomes in 20148, which has been steady).  Truly, there is not a whole lot of available inventory in *any* price point at the moment, so I’m hoping we see inventory climb a little bit soon so buyers have more to pick from!

If you are thinking about selling, and would like more specific information on what your home is worth, please hit the Ask Heather button and send me some specifics. Or, if you are considering buying this spring, you can hit the same button and tell me what you are looking for, and I can help you get a detailed market picture based on your criteria.

Cheers,

Heather

Single Family Homes

90-day stats for Single Family properties in ASHBURN, VA as of February 26, 2010
Median List Price	$597,062	Average List Price	$638,741
Total Inventory	184	Price per Square Foot	$160
Average Home Size	3,725	Median Lot Size	10,383
Average # Beds	4.31	Average # Baths	4.26
Homes Absorbed	9	Newly Listed	10
Days on Market	201	Average Age	7

Condos and Townhomes

90-day stats for Condo properties in ASHBURN, VA as of February 26, 2010
Median List Price	$300,342	Average List Price	$300,346
Total Inventory	208	Price per Square Foot	$160
Average Home Size	1,803	Median Lot Size	n/a
Average # Beds	2.88	Average # Baths	3.16
Homes Absorbed	13	Newly Listed	16
Days on Market	149	Average Age	10

In Ashburn, for the week ending November 27th, it looks like the real estate market is still steady as she goes. We are still seeing homes generally being absorbed (going under contract or off market) at basically the same pace as new listings are coming on market (therefore, inventory is still not growing). Average price per square foot is right around $160 no matter what your home type. The average days on market is still considerably less for condos and townhomes than it is for single family homes, even though the inventory numbers are similar. (That’s because of the lower price range being a touch more active.)

Questions? Want to know what these numbers mean in terms of your home value? Just reach out to me and ask, it’s what I do. (smile)

Cheers,

Heather

This table shows condos and townhomes (combined stats) for 20147. Homes are still being absorbed at the same rate that they are going on market.

Average Days on Market for homes in ASHBURN, VA 20147 as of Oct. 23, 2009 is 121

Right now, it takes about 60 days longer to sell a single family home than it does a townhome or condo. Personally, though, I think that the numbers we see here are not really indicative of what is happening in the market. The short sales (due to the length of time that they show as active, even while offers are pending) are skewing the numbers. I am seeing traditional sales take far less time than 120 or 180 days to go under contract.

Cheers,

Heather

Keep in mind that when the chart says condo, it is actually condos and townhomes. You can see that homes absorbed is a little less than the number of homes newly listed, which means that the inventory expanded ever so slightly this week.

Median Price for homes in ASHBURN, VA All ZIP Codes as of September 18, 2009 is $299,888

Inventory for homes in ASHBURN, VA All ZIP Codes as of September 18, 2009 is 225

Pretty easy to see that prices are nice and flat (read: stable!) for detached homes as well as condos and townhomes. Inventory has climbed just a touch in the last couple of weeks. I\\\'ll be watching to see if this continues, or if this is just a blip on the charts. Specific questions about the market, or want more information? Just hit the Ask Heather button up in the top right!

Cheers,

Heather

Most of the time, when I pull up the statistics for a town or zip code, I can look at different types of statistics and see how they are working in conjunction with each other, and it meshes with what I am seeing in the marketplace. I have to say, though, that when I look at the condo/townhome market statistics for Ashburn right now, I’m left scratching my head….not over the stable median price, or the steadily dropping inventory, but the rising days on market sticks out like a sore thumb! Granted, seeing a jump up from 112 days to 125 days isn’t huge, but if this is a new trend, I can’t tell where it is coming from. If the days on market keep going up, then inventory should flatten out…Guess this is just one stat we are going to have to keep an eye on!

Median Price $299,900

Inventory 217

Average Days on Market 126

Questions? Just hit that Ask Heather button at the top and reach out to me! (Or if you prefer, call me on my cell phone at 571-233-5491 or email me at info@heatherelias.com)

Cheers,
Heather

Pretty easy to see from that graph that single family home inventory is still dropping like a rock in Ashburn right now. Homes absorbed is still outpacing homes listed…a grand total of 14 single family homes came on market last week in all of Ashburn. Still feel like a buyers’ market? I hear agents in my office asking around now, “Hey, I have a buyer that needs…” (whatever type of home, whatever price range)..”Anybody have a listing coming up that might fit?” Times have changed rapidly from the high days on market, high inventory from last year…

Inventory 219

Questions? Just ask!

Cheers,
Heather

It’s the end of July and the Ashburn real estate market continues to roll right along nice and strong. Inventory levels are low, and multiple offers are the norm in most of the lower price points (although the multiple offers aren’t causing price run-ups like what we saw in 2004 and 2005.) The statistics below match up well with what I’m seeing in my day to day interactions with buyers and sellers.

To me, the most noticeable point is looking at the number of homes absorbed versus the number of newly listed homes.  (That’s classic supply and demand, folks.) When there are more homes selling (being absorbed) than there are new listings, the inventory is getting lower~~ and it’s already low! The 20147 zip is particularly strong in that area, while the 20148 zip is merely keeping up, or close to it.  The price per square foot is consistent throughout Ashburn, but median list price is higher in 20148 (where the average age of homes is half what it is in 20147).

If you would like free reports emailed to you specific to your zip code and home type, just use the Subscribe Now box at the top right. (Don’t worry, I won’t spam you with anything, I hate spam as much as you. <smile>) And if you want more information, would like to chat with me about your options, or have specific questions, hit the Ask Heather button and reach out! (or call me, that works too!)

Cheers,

Heather

Any working real estate professional in Loudoun County is going to nod their head in agreement when looking at these charts; the real life ‘boots on the pavement’ experience is matching up for certain with what we see on these charts. Ashburn condos and townhomes are definitely selling as fast as they are coming on the market! Before I get ahead of myself, though, let’s take a peek at median price, first…

Single Family Home Median Price

Pretty easy to see what is happening here.. Clearly, median home prices appear to have bottomed in March through May, and have gained steadily since then.  Whether this is temporary or a sign of a true bottom? Time will tell. For now, if you are thinking about buying or selling a single family home in Ashburn, the market is now being labeled “stabilized” and not “declining” by appraisers.

Single Family Home Median Price

Condo and Townhome Median Price by Quartile

What’s a quartile? It looks at each quarter of the market, so that we can pinpoint if one price bracket is performing differently than another. From looking at condos and townhomes in Ashburn, it looks like all four quartiles are performing similarly..and we aren’t seeing an uptick in pricing, right now.

Condo & Townhome Median Price by Quartile

New and Absorbed Single Family Listings

The black line is new listings, and the orange line is listings absorbed.  So when the orange is above the black, homes are selling faster than new listings are replenishing the inventory. This was the case from November of last year through until March of this year.  Absorbed listings started outpacing new  listings again in June, so inventory has tightened up a bit since then.  The spike upwards in absorbed listings the beginning of May coincides with the uptick in median price too..laws of supply and demand, in action.

Single Family Home New and Absorbed Listings

New and Absorbed Condo and Townhome Listings

The orange and black lines have been pretty evenly matched up since March for condos and townhomes, which is probably why we aren’t seeing an uptick in prices right now.  The inventory level feels low to me from acting as a buyer’s agent, so I’ll be watching to see how the median price behaves over the short term.

Condo & Townhome New and Absorbed Listings

If you would like more specific reports emailed to you, fill out the Subscribe Now form at the right (don’t worry, I won’t spam you…this is an information based site!). If you’ have a real estate question, or want my opinion on the market, click the Ask Heather button at the top and drop me a line.

Cheers,
Heather