If you were in the housing market of June 2015 you will remember how slow and sluggish last year market was.
May and June 2016 has been the strongest month since beginning of the year.
The Loudoun county market especially in the Eastern Loudoun county market of Sterling, Potomac Falls, Ashburn, Aldie, Broadlands, South Riding, Chantilly and Leesburg all saw a quick turnaround for the home sellers in the area while providing a stable market for the buyers.
While multiple contracts were not seen widely in the area but a shorter period of homes staying on the market (Days On Market 36 days). The list price to original sales price was 98.30% which means home sellers almost received close to their list price if they were priced right in the market.
A drop in the inventory from June 2015 market by a double-digit of 16% plus a drop in the interest rate to approx. 3.5% may have resulted in a strong housing market in the Loudoun county area.
New construction was a mixed bag. Some builders were very busy while some were offering additional incentives to entice a buyer to purchase a new construction.
The overall resale market was stronger than the new construction, especially in the Ashburn and Aldie area.
Below are the charts that will give you a snapshot of the housing market in the Loudoun county area.