“How is the market?” The question I am asked any time someone finds out I am a Realtor. It is a fair question and to most people, a very important question. I can’t tell you with complete confidence where the Market is headed but I can give you a glimpse of what we have experienced in Loudoun County over the last couple of years.
In 2013 we saw our largest jump in sold prices in years with average sell prices up around 10% over 2012. Much of this was helped by low Inventory and low interest rates. 2014 was off to a slow start with an extended winter and prices didn’t move much over 2013 as inventory shot up. In fact, inventory DOUBLED in the spring market compared to 2013. While not by much, inventory has increased even since that time. Prices have remained overall steady since 2013 except for short surges here and there.
Okay… I hope this helps. I will let you be the magic ball holder to decide on where we will be next year. In the mean time, store this information away to impress your friends at the water cooler.
Until next time…