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.

Related Articles

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Leesburg Real Estate Market Statistics (20175, 20176) - September 2008

No "Summer Slump" For Loudoun County Real Estate In 2008

Loudoun County Real Estate Market Statistics - 1st Half 2008 vs 2007

Loudoun Real Estate Inventory Levels Well Below National Average

20148 Beats 20147 In Ashburn Real Estate Market Conditions Bout

Today’s real estate market conditions bout is between Ashburn’s 20147 and 20148 zip codes and involves inventory and buyer demand statistics. In one corner is the 20147 zip code, which includes areas such as Ashburn Village, Ashburn Farm and Belmont Country Club. In the other corner is the 20148 zip code of Ashburn, which includes areas such as Broadlands, Brambleton and Loudoun Valley Estates.

Here’s how the two Ashburn zip codes stacked up against each other…

20147 zip code:

• The number of new listings that came on the market in 2008 (1/1-6/9) is 743 versus 830 during the same period 2007. That’s a decrease of 11 percent.
• The number of homes that sold in 2008 (1/1-6/9) is 435 versus 489 during the same period in 2007. That’s a decrease of 11 percent.

20148 zip code:

• The number of new listings that came on the market in 2008 YTD is 320 versus 315 during the same period 2007. That’s an increase of 1 percent (though we can just call it even).
• The number of homes that sold in 2008 YTD is 184 versus 157 during the same period in 2007. That’s a increase of 15 percent.

Though the 20147 zip code of Ashburn saw inventory decrease by 11 percent, buyer demand decrease by the same rate as well.

The 20148 zip code of Ashburn saw inventory stay pretty much the same, but buyer demand increased by 15 precent.

And the winner is…

In a split decision, Ashburn’s 20148 zip code was declared the winner of today’s real estate market conditions match-up!

A rematch is in the works for sometime next month. I’ll keep you posted.