Loudoun County Market Trends

Uncategorized

December 6, 2024

As a seller in the current real estate market, it is important to understand the correlation between key metrics to make informed decisions.

The Months Supply of Inventory is at a low of 1.64, indicating a high demand for homes compared to the available supply. This low supply can lead to faster sales and potentially higher prices for sellers.

The 12-Month Change in Months of Inventory has increased by a significant 54.72%, showing a shift towards a more balanced market. This increase may be due to more homes being listed for sale, giving buyers more options to choose from.

The Median Days Homes are On the Market is a short 13 days, indicating that homes are selling quickly in this market. This quick turnaround can be advantageous for sellers looking to sell their homes efficiently.

The List to Sold Price Percentage is at a high of 100.2%, showing that homes are generally selling for slightly above their list price. This data suggests that sellers may have room to negotiate and potentially receive more than their asking price.

Lastly, the Median Sold Price is $736,815, indicating a healthy market with strong property values. Sellers can expect to receive a good return on their investment in this market.

Overall, the combination of low inventory, quick sales, high list to sold price percentage, and strong property values make this an ideal market for sellers looking to maximize their profits. It is important for sellers to leverage these metrics to their advantage and make strategic decisions to sell their homes successfully.