We’ve been looking at the August 2017 numbers and there continues to be plenty of upside in the Loudoun County housing market. While the market tends to slow down in August, we saw meaningful changes in year-over-year activity. Loudoun County homes sold 9 days faster in August 2017 when compared to the year before. This is likely driven, in part, by a 10.7% year-over-year decrease in housing supply. Loudoun’s average sale price rose by 7.3% while the rest of NOVA was flat.
So what does this mean for you? We’re seeing demand for single family homes with four or more bedrooms and three bedroom townhomes. Homeowners that purchased a home in one of these categories back in 2012, can expect a 22% return compared to a 13% return for the rest of the NOVA region. This means it’s a GREAT time to “move-up.”
The strong demand we saw this summer will likely fuel higher than average sales throughout the coming fall months. Putting your home on the market now will allow you to comfortably be in your new home by the holidays.
Learn more about how UpsideDoor helps you keep more of your home’s equity.
To learn more about the process of selling homes check out these posts: