Market Activity Report: Putting it into Perspective

As far as inventory for the last three months, we aren't seeing any new trends, patterns, or jumps in comparison to last year's numbers. Just... less! While the patterns virtually mirror each other, this year's inventory is down from last year by 23 percent. Buyers don't fret, we have seen an increase in new listings over the past two weeks and this season looks promising.

The homes that were on the market in February, however, did not stay there for long! The average days on market dropped from 123 for 2009, to 88 this year. To put that into better perspective, from 2008-2009 the days on market only went down a mere 2.2 percent. From 2009-2010 the average DOM decreased by a whopping 28 percent! The argument can be made that bank sales and short sales have become quite expedient over the year. Pending sales have taken a dramatic jump, over 20 percent from last year’s steady tapering that only reached 2,096 in its best week from mid-December to mid-March.

Housing affordability may be "down" from 2009 by 4.4 percent, but this is just a small dent in the 56.2 percent leap it took from 2008. While some numbers are up and other numbers are down, we are certainly in a better place for 2009-2010 than we were for 2008-2009, and things are looking up in Loudoun County!

Check out the full MRIS Weekly Market Activity Report.

Helena Talbot
Broker/Owner
Exit Realty Talbot and Company 

Phone: 703-574-3800

Email: Helena@mris.com
www.loudouncountyonline.com

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