Know the MarketFebruary 9, 2012The Dirt on the MarketEmerging Housing Trends Analyzed by Rosemary deButtsMedian Sales Price Up 13%J a n ua ryHig h l i g h t sNot only did Loudoun’smonthly sales total increase in January 2012compared to January Loudoun County’shighest priced property sold for 1,500,000 in Sterling;2011 (291 and 271 unitsrespectively, 7.4 percent), the median salesprice in LoudounLoudoun Median Sales Price 41 percent of homessold in 30 days orless; 400,000 390,000 375,000 Loudoun’s sellersgrossed 95.5 percent of their original asking price; andMedian Sales Price 380,000 Four homes sold formore than 1,000,000;County also advanced13.3 percent, up from 331,000 to 375,000last month. 370,000 360,000 13.3% 350,000 340,000 331,000 330,000 320,000 310,000 About 28 percent ofLoudoun’s saleswere short sales orbank-owned properties. 300,000Jan 2011A T O K AP R O P E R T I E S ’Inside thisissue:Sales by Area2Median Sales Prices byArea2Days on Market3Featured ListingFast FactsFeatured ListingFast Facts45Rosemary deButts6N E WH O M EAtoka Properties, a division of Middleburg Real Estate, moved its headquarters to the Pancoast Building(circa 1909) on February 1, 2012. It islocated on North 21st Street nearNichol’s Hardware Store. We arepleased to be part of the downtownPurcellville revitalization and welcome your inquiries and visits.ATOKA PROPERTIESContact Info:Jan 2012115 North 21st Street, PurcellvillePlease stop by!
Page 2The Dirt on the MarketLeesburg Posts Big GainsThe graphs below illustrate the monthly salesand median sales prices inJanuary 2012 compared toJanuary 2011 for thethree Loudoun Countysubmarkets.Unlike the other two submarkets, western Loudounhad a 10 percent decline inits median sales pricemonth-over-year. EasternLoudoun’s median increased 13 percent andLeesburg’s median postedan enormous 47 percentgain on a month-over-yearbasis.Unit Sales by Area: Jan 2011 vs. Jan 2012They say,200175180Unit Sales“All realestate isAll three areas saw advances in unit sales compared to the same time lastyear with Leesburg postinga 14 percent gain.183Jan 2011160Jan u need toEastern Ldn 450,000Marketor sell yourhome. 425,000Median Sales Pricetime to buyWestern LdnMedian Sales Price by Area: Jan 2011 vs. Jan 2012Know thewhen it’sLeesburg 400,000 375,000 350,000Jan 2011Jan 2012 389,000 375,000 409,000 369,000 331,000 325,000 300,000 265,000 275,000 250,000Eastern LdnLeesburgWestern Ldn
Know the MarketFreeOfferPage 3Need a New Ride?The NADA predicts “used cars willbecome more expensive as demandoutpaces supply” in 2012. If pentup demand has a new car in yourfuture but you have on old one tosell, call Rosemary’s husband,Jimmy deButts. He is an expert atappraising and selling used cars. Healso specializes in locating hard-tofind antique and exotic cars, likethe classic Packard shown here.Until May 31st, Jimmy will appraise your car at no cost or obligation to you (a 300 value).Let Jimmy help you priceyour car to sell.Packard: One of the finest motorcars ever builtJimmy deButts 703/431-9115; [email protected] Days on MarketFa l l s 2 2 Pe r c e n tEastern Loudoun’saverage declinedfrom 72 to 61 daysmonth-over-year(-15.4 percent).In Leesburg, the average declined 31.9percent from 104days last January to71 days in January2012.declined 26.1 percent compared tolast January—from136 days to 100 days,on average.The days on marketin western Loudounhousing marketshowed significantimprovement inJanuary 2012.”Loudoun Average Days on Market908785Average Days on MarketLast January the average days on marketin Loudoun Countywas 87 days. Thisyear though, theJanuary average wasonly 68 days — a decline of 21.8 percent.“Leesburg’s80-21.8%75687065605550Jan 2011Jan 2012
Page 4The Dirt on the MarketFe a t u r e d L i s t i n g :17317 Pickwick Drive in PurcellvilleThis lovely home, locatedclose to Purcellville’snewest shopping centers,restaurants, LoudounValley High School and aneasy jump to the Bypass,is coming to the marketin early March. Locatedin the highly sought-afterVillages of Purcellvilleneighborhood, it featuresfour bedrooms with two baths. Numerous updates include new flooring and lighting, appliances, counters andbaths.inGNICO MchraMCall for more information:540/338-2212Sub MarketsFast FactsEastern LoudounJan 2011SalesM edian Sales PriceAverage Days on M arketDistressed SalesClose Price RatioJan 2012Western LoudounLeesburgChangeJan 2011Jan 2012ChangeJan 2011Jan 2012Change1751834.6%647314.1%32359.4% 331,000 375,00013.3% 265,000 389,00046.8% 409,000 %0.6%90.0%94.8%4.8%87.8%92.9%5.1% 3,307 4,64540.4% 3,639 3,9027.2% 4,529 3,653-19.3%Detached Sales8277-6.1%293831.0%293210.3%Attached vg Detached Close Price 477,764 533,35211.6% 479,491 595,94424.3% 508,126 407,885-19.7%Avg Attached Close Price 290,023 331,00114.1% 251,957 302,24820.0% 300,000 195,167-34.9%Avg Condo Close Price 172,206 182,4956.0% 168,701 184,3939.3%NANANAAvg Seller ContributionCondo Sales
Know the MarketPage 5Fe a t u r e d L i s t i n g :37591 Cecilia Lane in PurcellvilleThis custom home ona large and lovinglylandscaped lot features the best of Purcellville. The homehas 2,452 square feetabove ground plus afully finished basement — ready for yourmother-in-law ornanny. Grand features include a libraryloft, balconies, hardwood flooring, crownmolding, a jetted tuband a side load garage. Finally, it iswithin walking distance of the middleand high schools.home.GNICOM!NOSOFor details, contact Rosemary deButts 540/338-2212 or 540/[email protected] FactsLoudoun CountyJan 2011SalesJan 2012ChangeClose PriceLoudoun CountyJan 2011 Jan 2012Change2712917.4% 200,0004231 331,000 375,00013.3% 200- 399K1271280.8%8768-21.8% 400- 599K708622.9%Distressed Sales41.0%27.8%-13.1% 600- 799K273737.0%Close Price Ratio93.1%95.5%2.4% 800- 999K4525.0% 3,530 4,33922.9% 1M or more14300.0%M edian Sales PriceAverage Days on M arketAvg Seller ContributionDetached Sales1401475.0%Attached Sales10812112.0%23230.0%Condo SalesAvg Detached Close Price 484,411 522,2207.8%Avg Attached Close Price 282,899 322,40614.0%Avg Condo Close Price 170,074 183,5687.9%-26.2%“Sales of more expensive homesincreased while sales of lessexpensive homes decreased.”
Know the MarketThe Loudoun market is poised to take off this yearwith low interest rates, easing credit standards,stabilizing prices, declining distressed sales, andenormous pent-up demand. If now is the time foryou to buy or sell your home, count on me to provide you with the market know-how you need tonavigate an ever-changing market.If now is not the time for you to buy or sell ahome, I would very much appreciate referrals toyour friends and family.w w w. h o u s i n g a n a l y s t . n e tRosemary deButts, RealtorATOKA PROPERTIES115 North 21st StreetPurcellville, Virginia 20132Direct: 540/338-2212Cell: 540/454-6792Office: 540/[email protected] market data provided by Metropolitan Regional Information Systems (MRIS)