Home Prices

Loudoun County Real Estate Prices

Contrary to what you read and hear regarding real estate prices on a national level, prices in Loudoun County have been trending upward during the first four months of 2009.  The following graphs shows the prices of resale homes in Loudoun County have risen 8% from the December levels.

There is also a significant uptick in April prices which is exactly the opposite of what occured in April of last year when prices dropped 19,772 from March levels.  The April numbers are an estimate based on the current list price of the 352 homes already sold in April and a 97% sales price to list price which has been the rate for the last 6 months. 

 

 

And while this is definitely an encouraging trend, I anticipate the prices will start to move down again because of the recent lift on the foreclosure moratorium that has kept hundreds of foreclosure properties off the market during the last six months.  Look for those levels to increase going forward. 

And unlike others who report foreclosures levels dropping dramatically, I don’t think this will be the case going forward as the economy continues to shed jobs.  Prices here will fare better than anywhere else in the country but will probably languish as the overhang of supply from abandoned and vacant houses hover over the marketplace.