Decrease in Loudoun County Short-Sale, Foreclosure/Bank-Owned Properties For Sale

The number of Loudoun County short-sale and foreclosure/bank-owned properties for sale has decreased significantly over the past few years. This is an important fact because it speaks to the health of the overall real estate market in Loudoun County. As you may know, the less the number and percentage of short-sale and foreclosure/bank-owned properties for sale, the better the real estate market typically is in general.

So here are the numbers…

• The number of new short-sales listings in Loudoun County went down by 42% from 2009 to 2011
• The number of foreclosure/bank-owned properties in Loudoun County went down by 53% during the same time.

And here it is broken down by year…

2009

• Short-sales made up 19.2% of all properties listed for sale in Loudoun County
• Foreclosure/bank-owned properties made up 9.6% of all properties listed for sale in Loudoun County

2010

• Short-sales made up 14.6% of all properties listed for sale in Loudoun County
• Foreclosure/bank-owned properties made up 6.3% off all properties listed for sale in Loudoun County

2011

• Short-sales made up 11.1% of all properties listed for sale in Loudoun County
• Foreclosure/bank-owned properties made up 4.5% of all properties listed for sale in Loudoun County

These are refreshing numbers to see after the chaos of a market we’ve had in the latter part of the last decade. These numbers and trends along with other local real estate market statistics and “street reports” backs-up the sentiment that the worst is behind us and that the local market has and is continuing to improve.