Have you been paying attention to the recent residential real estate trends in Loudoun County and in particular Ashburn? If so, then you might have heard the team "seller's market".
What is a "seller's market"?
A seller's market is when the scales of supply and demand are favoring the home seller. For the seller, this means that when you sell your home you can fetch a higher price and get the home sold in few days than when the market is in equilibrium.
Right now, the real estate market in Ashburn VA is what we would consider a "seller's market". There are two charts related to the Ashburn real estate market that I want to share with you. The first chart shows the average days on market before a home receives a ratified contract -
This chart shows that on average it took a total of 36 days to get a ratified contract on a home once it went on the market. This trend has been consistent the last few months but has dropped substantially last summer. This chart tells me that if a home is priced correctly, it will sell.
This chart tells it all in terms of the Ashburn Real Estate market. We have seen the months of inventory going down substantially since last summer. The months of supply of real estate inventory in Ashburn now sits at 2.8 months.
What does months' of supply mean?
Months' of supply simply means that at the current rate that homes are selling, it would take 2.8 months to exhaust the entire real estate inventory in Ashburn VA. The national historic market balance or equilibrium for the real estate market is considered 5 months. So when we look at the current real estate market in Ashburn VA, we can say based on the current inventory levels and how fast homes are selling in today's market - we are in a Seller's Market.
If you are interested in the value of your home, try out our free home analysis at
to get an idea of the current market. If you would like to speak with me and get a detailed Equity Analysis of you home, please send me a note or give us a call.