Ashburn Real Estate Trends For December

Ashburn VA real estate had another strong month in terms of average sales price and # of units sold.  Below is a snapshot of the activity that occurred in the past month

Some metrics to note include average sales price at $504k, higher than last year by 4.39%.  There were 104 units sold in the past month with average days on market of 66 days (higher than last year by 94%).

If you look closer at the average sales price - you can see that detached homes pricing is down 4.46% from last year while attached (Townhomes & Condos) ended up 6.65%.  Because this past year has been fairly strong, more homeowners decided to put their houses on the market.  You can see from the above charge in the Inventory section that active listings are up 75% from last year.

A better picture for homeowners on the trending of the Ashburn home prices is a 12 month view, which this below chart provides:

The raw data supporting this above chart is below -

One of the questions that I receive constantly is what are the pricing trends in MY neighborhood.  Prices can definitely change for each neighborhood due to type of homes, location, age of properties, HOA amenities, and more.  This below chart is very helpful in showing the trends by neighborhood, but not that these average home prices can be deceiving based on the # of homes sold and the type of home sold.  If you are interested in more detail regarding specific neighborhoods - please contact us.

With a strong year in terms of overall home sale starting in the beginning of the year, overall inventory spiked up into the summer and it has finally started to slow down.  Based on our experience - the inventory levels will probably spike up again starting in February.  Below will give you an idea o this trending over the last 12 months by zip code 20147 and zip code 20148

The chart simply tells us right now that ending in November the average inventory (months it will take to sell all active homes based on what sold in the month) is 5 months for zip code 20148 and 3 months for zip code 20147.

If you have questions about the real estate market in Ashburn or are wondering what the value of your home would be in today's market, please reach out to us and we can help answer your real estate questions (fill in the contact form on the right).