Are You A Homeowner Looking At Ashburn Real Estate Home Sales And Considering Selling Your Home?
If so, then there is a mixed bag of news for you in June and so far this year. Here are the facts...
Home Sales in Ashburn for the month of June - 201
Average Sales Price by housing type in Ashburn VA -
- Detached Homes - $671k
- Townhomes - $410k
- Condos - $250k
The overall trend in homes prices have been positive in 2014 compared to last year. Unfortunately, this does not tell the entire picture of the housing market in Ashburn. The positive is that is the house is in good shape and priced right, then it will sell fairly quickly in todays' market. The negative is that the overall inventory has been slowly increasing this past year.
The one metric that we look at in the market to review inventory trends is the absorption rate. This is basically the measured by [active listings/sold listings]. Below is a quick chart that shows this trend over the past 12 months...
The absorption rate in zip code 20147 is roughly half of the absorption rate in 20148. Zip code 20147 has show inventory absorption rate hovering around 2.00 and the rate in 20148 has been hovering around 4.00. This means again that there is a higher demand in zip code 20147 than in 20148.
Beyond the basic absorption rate is then digging deeper and reviewing the housing activity by pricing bands. Reviewing this metric helps home seller especially see what price band is selling and what price band has higher inventory.
Pricing a home is all about supply & demand...
This table is showing simply where homes are selling. Right off the bat, you can see 121 homes sold in 20147 with the sales evenly distributed thru out the price bands. Home sales are a bit slower in zip code 20148 with only 79 sales. Additionally you can see the active listing inventory is much higher in this zip code.
I know these charts are a bit detailed but this information is quite important for home sellers in Ashburn. When you peal the onion and dig deep into the #'s you can see in a particular price band what homes are selling and what homes are sitting on the market. Pricing a home to sell is not about what you paid for it or what improvements you made - it is all about what a home buyer is willing to pay for it.
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