Real Estate Market Update for Loudoun County

Northern Virginia Real Estate Podcast with Mike and Melana Wilson

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We have recently released market reports from November 2015, and I think it will allow us to get a better pulse on what's happening in the local market.

I've made a chart of the inventory available, shown as days-on-market, and I've divided it by zip codes. The market is becoming more balanced, but there are areas where we're seeing more higher supply of homes than others. Sterling, Ashburn, and Chantilly are seeing low days on market (low inventory compared to demand), so SELLERS are going to be put in opportunistic positions in those micro markets.

On the flipside, days-on-market is high in Aldie and Purcellville so buyers will have a variety of homes to choose from, and more leverage in those areas. The major trend we're seeing throughout the market is that inventory is actually down from last year.

Another thing to take away is that real estate is very local. Even within our area, there are very different looking micro markets. Sterling is behaving like a Seller's Market while Aldie is behaving like a Buyer's Market!

Lastly, there is a lot of new construction going on in Northern Virginia. Aldie is experiencing a dramatic uptick in construction, and it's forming two different micro markets right in the same zip code.

It's important to know the market, and have the right strategy for the market, whether you are Buying or Selling.

If you have any further questions about our real estate market here in Northern Virginia, please don't hesitate to contact me!