Housing Market Shows December Uptick

By LoudounExtra.com staff

Friday, January 11, 2008

The housing market in Loudoun County showed signs of stability in December, according to numbers released Friday by the Dulles Area Association of Realtors.

There were 328 homes sold by a Realtor last month. That's down from 472 a year ago, but an increase from the 285 sold in November, which was the lowest total for a month since February 2000.

The median price of those homes also increased, ending a three-month slide. The Realtor association said the median price of a home sold last month in Loudoun was $410,000, up from $405,000 in November 2007.

The median price a year ago, in December 2006, was $440,000, the Realtor association said. The all-time high was $509,950 a year earlier in December 2005.

The average number of days a home stayed on the market last month fell to its lowest point since August. Homes sold by a Realtor spent an average of 104 days on the market, which is down from 108 days the previous month and 111 days back in September and October.

There also was other encouraging news for sellers.

The Realtor association reported having the lowest number of active listings since February. The new numbers indicate there is less than a 10-month supply of homes on the market in the county – down from a 12-month supply a month earlier.

New listings during the month of December fell to their lowest point of the year. Sellers last month were getting an average of 92.6 percent of their listed price – up from about 92 percent the previous month.

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