South Riding Real Estate Market Statistics – October 2008

Here are the October 2008 statistics for the South Riding, Virginia real estate market. The statistics cover supply (new listings) and demand (solds). 

   

The number of new listings in October '08 was higher than in September '08 and slightly lower than in October '07. This is not a good sign in the short-term and we'll have to see if this just temporary or turns into a trend.

The number of properties that sold (went under contract) in October '08 was lower than the previous month and the same as the previous year. This is not a good sign either and goes against what the rest of Loudoun County is doing, which is showing signs of improvement.

South Riding has one of the softest markets in Eastern Loudoun County making it tough for sellers, but good for buyers by giving them more room to negotiate.