The spring selling season is upon us…so what does that mean for inventory levels out in western Loudoun? Here’s a look at the single family home market in Hamilton, Purcellville, Round Hill, and Lovettsville…bear in mind that we are looking at smaller sample data for these areas, so a small uptick can look like a big swing in the market. 
How does this compare with what you are seeing in your neighborhood?
Cheers,
Heather
Tags: Inventory, Loudoun County, spring market
The one question that I get asked on a daily basis is ‘how’s the market?’…I took a look at the eastern part of Loudoun County earlier, so here, we are going to look at how real estate in the western towns is faring. Median price seems to be on the upswing everywhere except Lovettsville, while inventory is pretty flat everywhere (but is still low, compared to prior years).
Hamilton Single Family Homes:
Purcellville Single Family Homes:
Round Hill Single Family Homes:
Lovettsville Single Family Homes:
Thinking of listing your home for sale and want more detailed information? Get a clickable market report tailored to your home address, emailed to you.
Cheers,
Heather
Like
Tags: Hamilton, Loudoun, Lovettsville, Market Statistics, Purcellville, real estate, Round Hill
It’s almost spring (nearly 60 degrees outside today, and I have warm weather on the brain!) Getting an itch to buy and/or sell? When we start seeing some warm days is when we start to see listings hitting the market in Loudoun…typically. So it’s a great time to look at the real estate market in Western LoCo before things start to get interesting… Below are charts showing the current inventory levels for single family homes in Hamilton, Purcellville, Round Hill, and Lovettsville.
While inventory has clearly increased in the last month across all of western Loudoun, inventory levels on a whole are still pretty low, especially compared to January of 20o8 and 2009. Typically we start to see an increase in listing inventory at this point in the year, with market interest increasing with the warmer temperatures. Would you like to know how the market looks for your home? Just fill out the form below for a customized report. And as always, if you have questions about the market, are considering selling or buying, or just want to chat about your homeowning goals, please call me at 571-233-5491 or email me at heather@locomusings.com. It’s what I’m here for.
Cheers,
Heather
cforms contact form by delicious:days
LikeTags: Hamilton, Inventory, Loudoun, Lovettsville, Purcellville, real estate, Round Hill
For this week at Western LoCo Stats, let’s look at what median price is doing in western Loudoun. The orange lines are median price for single family homes in the different towns, while the black line is the combined condo/townhome market. These charts go back several years, so you can get a good feel for the overall trend line. Keep in mind that the condo/townhome market in all these towns is pretty small, so big fluctuations in median price isn’t uncommon because of the small number of homes we are working with.
Starting in 2007, we can see that Western Loudoun was still in a gentle median price decline for single family homes, continuing into 2009. Hamilton’s median home price has been decently stable since July of 2009, while Purcellville and Lovettsville continued to drop until January of this year, but have since stabilized. Round Hill, on the other hand, has seen small fluctuations since basically bottoming in the spring of 2008.
I’m hoping the price stability continues through the winter, and we will see a typical uptick of about 5% for the spring market. Time will tell; and I will certainly keep monitoring the statistics. Stay tuned.
Cheers,
Heather
Tags: Hamilton, Loudoun County, Lovettsville, market update, Median Price, Purcellville, real estate, Round Hill, statistics
Earlier this week I took a look at the housing inventory for Loudoun County as a whole. Looking at these charts, the towns in Western Loudoun are certainly mirroring the same trend line, after spiking up during the summer months, levels are dropping for the fall:
Cheers,
Heather
LikeTags: Hamilton, Inventory, Loudoun County, Lovettsville, Market Statistics, Purcellville, real estate, Round Hill
For this week’s statistics, we are looking at average days on market for various towns in Western Loudoun. Last year, around this time, days on market started to creep up, and stayed high, up until March. Across the board, we see the average days on market drop through August, since when they have stayed pretty flat (except for Lovettsville, where they have crept up slightly). In Hamilton, Round Hill, and Purcellville, single family home average DOM is lower now than where it was in October 2009, and significantly so in Purcellville and Hamilton. If we follow last year’s trend lines, expect that to rise a bit until we get into the spring market again.
Cheers,
Heather
Tags: Days on Market, Hamilton, LoCo, Loudoun County, Lovettsville, Purcellville, real estate, Round Hill, statisics
So, taking the pulse of the real estate market in the western part of Loudoun County, and what do we find? Across the board, average days on market are down significantly since the spring, inventory levels are still low, and median price is trending up. Overall this looks pretty positive to me. While the national media wants to bash the housing market, Loudoun County appears to be pretty stable. Just goes to show that trying to look at the national real estate market is like trying to look at the national weather forecast: everything is local, folks. (And hat tip to Dan Green at The Mortgage Report for that analogy.) Feel free to mouse over the charts and adjust them to view the time frame you’d like to look at.
Hamilton
Purcellville
Round Hill
Lovettsville
Cheers,
Heather
Tags: Days on Market, Hamilton, Inventory, LoCo, Loudoun County, Lovettsville, Median Price, Purcellville, real estate, Round Hill, statistics
Yesterday I posted on LoCo Market Stats about how median price in Loudoun hadn’t dipped in the summer as I expected. From the chart above (black line is single family homes, orange is combined condo/townhome stats) you can see that pricing has stayed relatively steady, after squeaking upward slightly toward the end of the first time homebuyer tax credit. I thought I’d take a closer look at the towns in Western Loudoun County to see if they followed this trend line too:
As you can see, with a little fluctuation, they have as well. If anything, single family home prices have *risen* slightly in western Loudoun since the spring. The black line for median price of condos and townhomes shows a bit more movement, but that’s because the number of non-single family homes sold in any of these towns are not enough, statistically speaking, to really show a trend.
So if the first time homebuyer tax credit was propping up our market, shouldn’t prices have tanked a bit after it was over?
Questions about your particular neighborhood’s trend or your home’s value? Please ask, it’s what I’m here for.
Cheers,
Heather
Tags: Hamilton, Loudoun County, Lovettsville, Median Price, Purcellville, real estate, Round Hill, statistics
I’ve been analyzing real estate market statistics across Loudoun County all this week (see my earlier post here or at LoCo Market Stats) and everywhere we look, median price has held steady or declined a bit since the end of April, coinciding with the end of the first time homebuyer tax credit. Not so in Round Hill! Median price for single family homes has actually risen about $50,000 over the last two months. The very small market for townhomes in Round Hill has stayed very flat and stable during that period. I’m not sure if we will see this trend continue, as inventory is definitely up in Round Hill. Now that the spring market is wrapping up, we should get a better feel for where things are heading.
Cheers,
Heather
Tags: Loudoun County, market update, Median Price, real estate, Round Hill, statistics
It’s the beginning of July, which means the we are halfway through the year, and the busiest period of the year for home sales is waning. Here’s how the real estate market looks for single family homes in Purcellville right now:
Now that the first time homebuyer tax credit has ended, we should start to be able to discern the real health of the market here. Right now, inventory is up, days on market is down considerably. Median home price, after peaking in mid-April, is now back to about where it was to start the year, and has remained pretty consistent outside of that two week blip. We will probably see pricing adjust down soon, until the high amount of inventory gets absorbed; this will cause days on market to rise as well. If you are thinking about buying or selling now, please reach out so that I can give you market advice that is more tailored to your specific situation.
Cheers,
Heather
Like Tags: Days on Market, Inventory, Loudoun County, Median Price, Purcellville, real estate, statistics
