LOUDOUN COUNTY REAL ESTATE MARKET DYNAMICS FEBRUARY 2015

1,622 residential homes were listed For Sale in our market. Only 326 homes sold during FEBRUARY.Thats a 5 month supply of homes if no other homes come on the market.750 additional homes came on the market, increasing inventory by 424 homes!

272 of those homes were priced $800,000 +. Only 11 of these homes sold during FEBRUARY.Thats an 24.7 month supply if no other homes come on the market.87 additional homes came on the market, increasing inventory by 76 homes.

406 of those homes were priced $600,000 - 799,999. Only 45 of these homes sold during FEBRUARY.Thats a 9 month supply if no others come on the market. 174 additional homes came on the market, increasing inventory by 129 homes.

524 of those homes were priced $400,000 - 599,999. Only 119 of these homes sold during FEBRUARY.Thats a 4.4 month supply if no others come on the market.241 additional homes came on the market, increasing inventory by 122 homes.

391 of these homes were priced $200,000 - $399,999. 141 of these homes sold during FEBRUARY.Thats a 2.8 month supply if no others come on the market.234 additional homes came on the market, increasing inventory by 93 homes.

Sales have increased 14.4% from January to February 2015 while monthly supply of homes remained relatively constant! In other words, while sales increased 14.4% from last month, the listing inventory increased by 5.5%; thus decreasing the per month supply by a modest 0.4 months. However, we also see additional homes on the market up 39% or more in specific price ranges. Sellers are beginning to flood the market. Buyers are telling us that PRICE is the most critical factor in increasing property value and getting showings and sales. Heres the good news...764 homes are selling each month. Yours can be $OLD if youre willing to price competitively and expose it to the Brokerage community where 93% of all homes are $OLD each year! Call me today and lets get yours $OLD!