Price of a Home in Ashburn 20147 for April
Leesburg, VA – May 14, 2013 – (RealEstateRama) — The price of a home in Ashburn for the zip code 20147 increased 1.04% from the month of March for a total year over year increase of 12.6% when compared to April 2012. We are continuing to see very low inventory levels in the area and with continued buyer demand this trend is expect to continue upward as we move forward through the spring selling season. There is currently just over one month’s supply of inventory on the market which by definition makes this a very strong sellers market.
Lack of Inventory Driving the Price Up
Inventory levels continue to remain very low for the Ashburn area and Loudoun County over all. There were a total of 136 active listing on the market to begin the month of May which is down 25% from the same time last year. There were 130 new listing that came on the market in April which was and increase of 31% from last year. This is evidence of the strong buyer demand that the market is seeing. Agents in the area continue to report multiple offers and the average days on market have dropped 36.84% to an average of 24 days for all property types. Town Homes and entry level properties continue to be the most competitive segment of the market. There is currently less than one month’s supply of town homes for sale and the average price of a home in this segment is up over 10% from last year. If this continues the price of a home in Ashburn will continue to increase.
Average Sales Price Compared to List Price Continues to Improve
With the lack of available inventory and continued buyer demand we are also seeing the actual sales price of a home in Ashburn at closing when compared to the original list price improve as well. With homes staying on the Average Price of a Home in Ashburn market for just 24 days and the competition from buyers for available homes, sellers are getting what they are asking for. This trend should also continue as long as the inventory levels remain low. With the average price of a home in Ashburn, 20147 being $452,516 compared to the average last April of $401,882, many sellers who were not able to sell last year without bringing money to the table at closing are finally able to make a move.
As the spring market continues to heat up and we approach summer the real estate market should continue to improve as far as the average price of a home in Ashburn and other communities is concerned. The lack of inventory will continue certainly force buyers to pay more and accept less form sellers. The laws of supply and demand should continue to force the price of a home in Ashburn, and other communities in Loudoun County, higher.
About Loudoun County Living LLC
Loudoun County Living LLC is one of the top teams at Keller Williams Leesburg Office. LCL has consistently continued to grow through the difficult market we have experienced over the last several years. The team consists of experienced and skilled agents who specialize in the sale and purchase of Short Sales, Foreclosures and Traditional Sales. With over 15 years of experience, Loudoun County Living LLC is the best choice in Loudoun County to help you buy or sell your home or investment property. The team is led by managing partners Dawn Billow and Barry Harlowe and consists of skilled buyer’s agents and a full time support staff.
Loudoun County Living LLC | Keller Williams Leesburg
50 Catoctin Circle NE #101, Leesburg, Virginia, 20176 | 703-831-7653
http://loudouncountylivingllc.com
