Median Sales Price 2011 06Posted: July 27, 2011
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.