Today we are going to look at the market in Purcellville, starting with inventory levels. What I would hope to see at this point in the year is an uptick in inventory, so that there are homes available for sale for the spring market. And we aren’t seeing that yet. Inventory levels for condos and townhomes remains anemic, but that’s mostly because of how few townhomes there are in Purcellville (I’m not sure if there are any condos at all). Single family home inventory, though, while slightly higher than January, is still not close to where it was in May of last year. I’m thinking that the first time homebuyer tax credit will drive the spring market in Loudoun, and there are few options for buyers looking to purchase in Purcellville.
Looking at median price, the zigzags you see on the condo/townhome line are caused by two distinct price points for townhomes in Purcellville. There are the newer ones by Toll Brothers in Purcellville Ridge and the ones built by Arcadia off of 21st Street, or the older ones in Main Street Village, with a decent price swing between the two. The median price for a single family home, though, has not moved much in the last eight months.
If you are thinking about selling or buying in Purcellville (or are just curious about the market) but you want more specific statistics, feel free to hit the Ask Heather button to request more detailed information.
Cheers,
Heather
Like Tags: Inventory, Median Price
