Market Update January 18, 2023

What a change a week makes!  Check this out:

Just the Numbers

Loudoun County, VA

Since January 9th:

88 homes have gone under contract 

Average list price of those homes is $782,000

Average Days on Market was 44 days

51 Homes went to Settlement of those:

22 had price decreases

11 sold higher than list price

AVG. DOM was 40 days

88 homes under contract is a huge increase from the first week of 2023 which has less than 10 go under contract.

I expect this number will continue to increase each week. This is the beginning of the "Spring" market.  And if you are thinking of selling now is a great time.

Inventory continues to increase the further we get into the year and will peak around May/June.  Listing while inventory is still moderate is a great strategy as there is still high demand. 

With interest rates leveling off buyers have come to accept the new normal and are preparing to enter the market.

If you are interested in buying or selling or want specific information about your neighborhood market let me know!  I have access to all the stats your need and have insight for interpreting that data!