Being a Loudoun County Realtor and a resident for close to two decades I can personally vouch we are still a very young county. We will all have to go through growing pains from construction nuisances, high demand for housing, schools, roads and transportation to fast-rising home pricing.
Continuing with our struggle of low inventory in double digits (-15.87%) the volume of homes under contract suppressed last year by -6.54%. Once again focusing on the sales to list price ratio remain at the minimalistic of 0.49%.
This means the home sellers in the Loudoun County area received contracts that were close to the list price of the homes. Sorry, no low balling.
New construction in Loudoun County:
As mentioned in my past blogs 2017 has been the strongest year for most of the local builder. They have sold more than the anticipated number of homes for the year. Some of the builders had to scale back on their sales since the construction delivery of these homes are a year out.
Home buyers in Loudoun County:
If you are a potential home buyer in Loudoun County area of Ashburn, Aldie, Leesburg, Sterling, Chantilly, Dulles and Potomac Falls be prepared for another round of sales madness. Multiple offers may be a common scenario once again if you price and stage your home correctly.
Home Sellers in Loudoun County:
If you are planning to list your home in the Eastern Loudoun County cities Ashburn, Aldie, Leesburg, Sterling, Chantilly, Dulles and Potomac Falls be prepared to be off the market in a very short period. If the winter is warm we may anticipate early spring market.
Bottom line about the housing market in the Ashburn, Aldie, Leesburg, Sterling, Chantilly, Dulles and Potomac Falls is if politically things remain unchanged we will be heading for another round of tight inventory with high volume demand of housing market in the area. Interest rates have been fluttering around same for past year.