Loudoun home sales, foreclosures pick up

418 homes were sold while 401 home loans went into foreclosure in March keeping industry experts wary of what amounted to a 67% increase in sales over February. Most observers attribute the increase to pent up demand accumulated during snowmaggedon 2010.

While not scientific we’ve noticed a high rate of SOLD signs in the South Riding neighborhood so we’re keeping our fingers crossed that it isn’t simply Ron Rush placing SOLD signs in yards to create the illusion things are popping. Either way, it’s nice to see SOLD signs… reminds us of the good ole days.

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