Home Sales in Loudoun Up 31 Percent in January

The Loudoun Times-Mirror reported that home sales in Loudoun County were up 31 percent from January 2008. The median sale price was $288,000 versus $370,000 the year before indicating that the news isn’t all positive, but I believe it’s better to have turnover at lower prices then a frozen market. Liquidity will bring more investors into bottom fish, establish values lenders can rely on, and help people that need to move out a way to do so.

Source: Loudoun Home Sales Up 31 Percent

Map courtesy of HomeFinders.com

Area Home Prices Are on the Rise

According to the IAS360 House Price Index home prices in Fairfax rose 4.9 percent over May and are down 6.7 percent from June of 2007, which is not as bad as the national decline of 11.5 percent. This should help drive more prospective buyers out of their holding pattern and into new homes.

Many Northern Virginia realtor’s claim this area is better suited to withstand economic downturns then most and this 4.9 percent increase, compared to an increase of 1.1 percent at the national level, further supports that claim.

Unless the US Government decides to relocate or goes out of business the DC are should continue to prosper over the years and decades ahead.

They’re Talking About Us in St. Louis

It’s interesting that our beloved Loudoun and Prince William County suburbs would make it into an article in the St. Louis Today. Eddie Roth, the author of ‘Mass transit and suburban home market‘, makes great points about how we’re all paying very close attention to our transportation costs now. Commuting an hour each way used to be simply a quality of life issue. Now it’s hitting us in the pocketbook and it’s affecting buying decisions more then ever.

There are two claims he made in his article that I object to; #1) that home prices in Loudoun and Prince William counties “have collapsed” while prices in “the District and inner suburbs have stayed the same or increased”. (Even if true we don’t need them blabbering it all over), and #2) is his reference to our counties as “far suburbs”. Far from St. Louis I suppose! Has he ever driven Gum Spring Road? It’s not “far” any more!

Gum Spring Road Real Estate

Yes, there are actually homes being built on Gum Spring Road and the surrounding area. This would indicate that there are still some buyers left out there. This section is the best way to reach them!