Loudoun County Real Estate is slowly coming out of a seller's market. Buyer's are able to ask & receive home inspections and other contingencies. The surrounding counties of Jefferson, WV, Berkeley, WV, Warren County, VA, Frederick County, VA, and Clarke County, VA are following suite. The Key takeaways and a snapshot of the August 2022 Housing Market:
SALES ACTIVITY IS CONTINUING TO SLOW DOWN-33.1% DECREASE IN SALES COMPARED TO PREVIOUS YEAR
PENDING SALES ARE DOWN 30.7% IN AUGUST COMPARED TO LAST YEAR
HOME PRICES ARE UP 8% IN AUGUST COMPARED TO AUGUST 2021
SUPPLY OF HOMES INCREASED BY 17% FROM AUGUST 2021
INTEREST RATES ARE INCREASING
If you are looking to buy in the near future, the median list price is 10% higher on average than last year at the same time. The average days on market is 18 days which is 39.3% longer. There are 17% more active listings and 1.1 months supply. BUYERS this is good news for you. You finally can ask for inspections and contingencies. The odds are you will receive some or most of what you ask for. Please go to https://sherrysantmyersells.com/ My website has update information on listings in VA and WV.
PLEASE CLICK A LINK BELOW TO SEE A DETAILED REPORT FROM DULLES AREA ASSOCIATION OF REALTORS:
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