Report: Loudoun home prices and inventory rise Monday, May. 19, 2014 By Ethan Vaughan, Special to the Times-Mirror Home prices in Loudoun County continued to climb in the month of April, even as inventory increased. That’s according to the April 2014 Loudoun County Existing Housing Market Trends Report, which detailed the county’s continued recovery from the 2008-2009 housing collapse and financial crisis. “According to the report, the number of closed sales in the Loudoun County existing housing market showed a mild increase from last year in April, though new contract activity was down 12 percent for the month.” The greatest decline came among detached homes, with activity falling by 15.1 percent. Nevertheless, detached homes also saw the largest price increase, of 6.6 percent from April 2013. “With seller activity gaining over April 2013, as evidenced by a 15.6 percent jump in new listings [the most since May 2007], active supply is now back to 2011 levels. The 10 consecutive months of annual gains in inventory levels are a positive indicator for potential buyers, as increasing inventory could moderate the upward pressure on prices experienced over the last several years. “That said, the county remains a seller’s market and the median sales price rose 3.4 percent in April to $423,000. Even with this pricing gain, the average sales-price-to-original-list-price ratio decreased from 98.2 percent last April to 97.8 percent in April 2014.
Posted on: Tue, 20 May 2014 23:39:59 +0000
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