Metro DC Median Sales Prices 2011 07

Posted: August 19, 2011 | Author: Rosemary deButts | Filed under: Median Sales Prices, Metro DC Housing Analysis | Tags: 2011, dc, Fairfax, Loudoun, Market Trends, Median Sales Price, Montgomery County, NVAR, Price Changes, Prince William County, Washington | Leave a comment »

Median Sales Prices Reach New Highs

The table below lists the median sales price in July 2011 compared to June 2011 and July 2010. The median sales price in the District of Columbia reached a significant milestone in July. Before July, the median had not reached $445,000 since June 2006 when the market was at the height of the housing boom here in metro DC. Similarly, NVAR (Arlington and Fairfax counties and the cities of Alexandria, Fairfax, and Falls Church) posted its highest median sales price since August of 2007. Montgomery County’s median was at its highest level since August of 2010. The metro DC July median ($355,000), including all the counties and jurisdictions illustrated below, matched the July 2010 median and increased the number of consecutive months the 2011 median met or exceeded the median in the corresponding month in 2010 to three.

Median Sales Price 2011 06

Posted: July 27, 2011 | Author: Rosemary deButts | Filed under: Foreclosures, Median Sales Prices, Short Sales | Tags: 2011, Foreclosures, Loudoun, Market Trends, Median Sales Price, Price Changes, Short Sales | Leave a comment »

Median Sales Prices on the Rise Despite Declining Prices for Distressed Sales

In Loudoun County in June 2011, the median sales price for standard sales was 5 percent higher than in June 2010. This despite the 15 percent decline in the median sales price for bank-owned properties month-over-year and 17 percent for short sales.

A partial explanation is that the share of distressed sales (bank-owned properties and short sales) has steadily declined this year in Loudoun. After five consecutive months of decreases, the share of distressed sales was only 20.4 percent of total sales in June 2011. Compare that to the 30 percent share last June.

Share of Distressed Sales 2011 05

Posted: June 30, 2011 | Author: Rosemary deButts | Filed under: Foreclosures, Median Sales Prices, Short Sales | Tags: 2011, Foreclosures, Loudoun, Market Trends, Median Sales Price, Short Sales | Leave a comment »

Share of Distressed Sales Hits New Low

For the third consecutive month, the share of distressed sales fell below 30 percent and posted the fourth consecutive monthly decline. It also reached the lowest point since distressed sales became a forced field in the listing service in April 2009. Of the 109 distressed sales last month, 75 were short sales and 34 were bank-owned properties.

Last year at this time, 27.6 percent of total sales were distressed, slightly higher than the May 2011 share of 27.3 percent. Leesburg had the highest share of distressed sales in April, 32 percent. Eastern Loudoun’s share amounted to 27 percent while 21 percent of the closings in Western Loudoun were short sales or bank-owned properties.

Compare the median sales price of distressed closings in Loudoun last month, $276,000, to the median for all sales types, $380,000 (-27 percent).

Median Sales Price 2011 05

Posted: June 29, 2011 | Author: Rosemary deButts | Filed under: Median Sales Prices | Tags: 2011, Loudoun, Median Sales Price | Leave a comment »

May Median Sales Price Highest in 8 Months

The Loudoun County median sales price advanced for the fourth consecutive month in May (+3 percent). May’s median of $380,000 was the highest monthly median in the last eight months. For comparison sake, the 2010 annual median sales price in Loudoun County was $365,000, but the 2011 year-to-date median advanced from $355,000 in April to $362,000 in May, finally exceeding the annual median in 2010 of $359,900.

Leesburg’s median advanced 1 percent to $400,000 in May from $395,000 in April. Eastern Loudoun also posted an increase, from a revised $349,500 to $355,000 (+2 percent). The median in Western Loudoun soared 5 percent in May to $435,000 from a revised $414,000 in April.

Loudoun’s median sales price has recovered from the trough in early 2011 and has exceeded the median in the corresponding month in 2010 for two consecutive months.

The median sales price is determined by sorting all sales in ascending order by close price and finding the one in the middle. Therefore, 50 percent of the sales sold for less than the median and 50 percent sold for more than the median.