As you may recall, we had a long and cold winter in 2014.
It has been said that the weather played a role in our local economy. The year started out strong, but quickly shifted into an unusually slow spring market and then to an even slower summer/fall market. However, when we look at the big picture, it wasn’t all bad.
Here’s the big picture: Market Statistics-LoudounCountyVA-2014
Sales were down -7.89% for the year in Loudoun County, but the good news is that the Average SOLD Price was actually up by +3.5%. And even though the number of homes sold were down, the average days on the market also decreased – from 59 day on the market (DOM – 2013) to 44 days (DOM – 2014). Essentially, houses were sold over 2 weeks quicker!
We are looking forward to a strong and steady 2015, and so far all indications are showing that this year is starting out strong! In January of 2015, closed sales showed a modest increase of +1.8% higher than in January 2014. There were 589 new listings that posted this past January, a +5.4% increase over the number listed in the same month in 2014. The $410,000 median sales price this January was 4% lower than the same month last year, though the $550,000 median sales price for detached homes increased 5.7%. The median list price for new pending sales was $420,000, less than 1% below last January’s $423,982 level for new pending sales. This reflects a recovery from our slower summer/fall of 2014.
As you can see, all in all, things are looking UP for 2015!
Want to understand more about your neighborhood? Contact us today for detailed information about your neighborhood. We are always happy to provide a FREE HOME ANALYSIS!
The JS Realty Team – not only serving Brambleton, serving all of Northern Virginia.