Loudoun Foreclosure, Bank-Owned, Short-Sale Market Statistics - April 2009

Here’s a look at Loudoun County foreclosure/bank-owned and short-sale market statistics for April 2009:

Total Sales/Buyer Demand 

• The number of foreclosure/bank-owned and short-sale property sales in April 2009 were almost exactly the same as in March 2009 (325 vs 323)
• April 2009 sales were up 29 percent over April 2008

Inventory/Supply

• April 2009 had 273 new foreclosure/bank-owned and short-sale listings come on the market versus 289 in March 2009, a decrease of almost 6 percent (In comparison, April 2008 saw a 23 percent increase in listings from March 2008)
• April 2009 had 273 new listings come on the market versus 360 in April 2008, a decrease of  24 percent

Translation…

Buyer demand for foreclosure/bank-owned and short-sale properties has increased tremendously from last year. But the rate of new inventory/listings on the market is way down. This means more buyers competing over fewer properties which has lead to price stabilization and many multiple/competing offer situations.

Click here for more on Loudoun’s housing market conditions and how they affect you as a home owner, seller or buyer.