Loudoun County Real Estate Showing Signs of Strength

During the month of April, the Loudoun County real estate market has showed signs of strengthening on both sides of the supply and demand equation.

Listings have remained steady at or near the 2600 mark for the entire month.  Currently at 2626, this shows that there hasn’t been the usual spike in new listings that outstrip the number of sales.  That was the case for 2005, 2006 and 2007 but not this year.

Demand has been very good for the month with 555 homes going under contract this month in Loudoun County with 2 more days left in the month.  In 2007 there were only 491 sales in the month of April.

Several new home builders left the area in the last couple of months including KB Homes.  This has decreased the supply of new homes in the area. 

Houses that are priced agressively are being greated by multiple contracts from buyers looking for good values.  There are a tremendous amount of buyers that have been on the sidelines for quite some time that are starting to jump into the market.   This listing in Sterling Park had 7 offers in 6 days.

We might not be at the very bottom but these four signs show that we are no longer in a freefall here in Loudoun County.