Ashburn Real Estate Market Statistics - October 2008

Here are the October 2008 statistics for the Ashburn, Virginia real estate market. The statistics cover supply (new listings) and demand (solds). To make it easier, I broke it down by the two Ashburn zip codes, 20147 and 20148.

Ashburn - 20147

The 20147 zip code includes areas such as Ashburn Farm, Ashburn Village, Belmont Country Club, Belmont Greene and Belmont Ridge…

   

The number of new listings in October '08 was slightly lower than in September '08 and significantly lower than in October '07. This shows that the trend of a diminishing inventory in Ashburn continues.

The number of properties that sold (went under contract) in October '08 was lower than the previous month, but was significantly higher than the previous year.

Ashburn - 20148

The 20148 zip code includes areas such as Loudoun Parkway Center, Broadlands and Brambleton…

 

The number of new listings in October '08 was slightly lower than in September '08 and significantly lower than in October '07. This also goes along with the trend of a diminishing inventory throughout Ashburn.

The number of properties that sold (went under contract) in October '08 was only half that of the previous month and lower than the previous year. This is not a good sign for the 20148 real estate market and I hope to see buyer demand increase this month and moving forward.

Overall, the Ashburn market is showing mixed signals. The 20147 zip code shows continuing of improvement while the 20148 zip code's low buyer demand is not a good sign.

Ashburn Real Estate Market Statistics (20147, 20148) - September 2008

Here are the September 2008 statistics for the Ashburn real estate market (20147 and 20148 zip codes):

Ashburn - 20147 - September 2008

• New listings = 86. This is an 11 percent decrease in new inventory as compared to September 2007
• Solds (Under Contract) = 71. This is a 40 percent increase in buyer demand as compared to September 2007

Ashburn - 20148 - September 2008

• New listings = 31. This is a 9 percent decrease in new inventory as compared to September 2007
• Solds (Under Contract) = 31. This is a 258 percent increase in buyer demand as compared to September 2007

Though buyer demand increased significantly year-over-year in the 20147 zip code of Ashburn, it really jumped in the 20148 zip code. In fact, the 20148 zip code had the same number of sales last month as it did new listings (31).

These stats confirm what's being felt on the "street" - there are less properties to choose from and more buyers fighting for the same property. This is especially true with properties in the lower price brackets and those that are great deals. This bodes well for sellers and the market as a whole though it's not news most buyers want to hear.

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