17317 Pickwick Drive, Purcellville

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Subdivision Analysis: Villages of Purcellville 2011 09 15

Prices on the Rise

Last month there were no active listings in the Villages of Purcellville and there were three homes with pending contracts.  None of those three have settled yet (two are short sales) and their average list price is $318,267.  Whew, that’s low.  The good news though is that three new listings have entered the market with an average list price of $404,000 (none are distressed sales).  It seems that the community had to work through its short sales and now the market is back to a normal level.

There has been no change in the number of closings in Village of Purcellville since August (seven year-to-date closings).  The year-to-date median sold price is $349,000, down 11 percent from the 2010 median.  Sellers in 2011 had more modest expectations than in 2010; original list prices more accurately matched market conditions as seen in a much lower average price decrease.  But, seller contributions increased 43 percent to an average of about $5,000.  The time it takes to sell a home did improve though from an average of 99 days in 2010 to just 50 days through August 31, 2011.

Please call me if now is the time for you to sell your home.  Prices are back!  Let’s take advantage of low supply and high demand.


Subdivision Analysis: Villages of Purcellville 2011 08 16

No Active Listings = No Competition!

There are no active listings in the Villages of Purcellville.  Three homes have pending contracts with an average list price of $318,267.  Two of the three are short sales and the average days on market was 187 days.

Three homes sold in the Villages in July to bring the year-to-date total up to seven closings.  One sold for $412,000 while the other two sold for $330,000 and $349,000.  The year-to-date median sold price is $349,000, down 11 percent from the 2010 median.  Sellers have clearly moderated their expectations; the average price decrease has escalated dramatically this year compared to last.  Compounding the issue, seller contributions have increased 43 percent to an average of about $5,000.  The time it takes to sell a home did improve though from an average of 99 days in 2010 to just 50 days through July 31, 2011.

Please call me if now is the time for you to sell your home.  Be the only option for folks looking for the small town charm of Purcellville and the convenience of your highly desirable neighborhood.


Old Dominion Valley Subdivision Analysis

Significant Improvement in 2011

In all of 2010, only two homes sold in Purcellville’s Old Dominion Valley neighborhood.  So far in 2011, four homes have changed hands.  Even more important though is that the year-to-date median sales price in Old Dominion Valley is $428,000, $48,000 and 13 percent higher than the 2010 median of $380,000.  Last year, list prices were reduced an average of 3.5 percent ($14,500) before receiving a contract; this year the average price decrease is only $2,275 or .5 percent (an 84 percent drop from last year).  Average seller contributions have declined 16 percent this year to $6,750.  The average time to sell dropped from 113 days in 2010 to 39 days in 2011.  One of the two sales last year was a bank-owned property and the other was a standard (non-distressed) sale.

There were only two active listings in Old Dominion Valley as of August 2nd.  The current average list price is very low, only $390,300.  That’s because one of the active listings is a bank-owned property offered at $370,700.  The remaining standard active listing has an asking price of $409,900.   They have been on the market an average of 93 days.

The one pending sale is a short sale that had a contract in just fourteen days at a list price of $419,900.

If now is the time for you to move, I would be honored to help you sell your home and/or answer any questions you may have about the real estate market here in Loudoun County.

Look for my new column in The Purcellville Gazette:  “The Dirt on the Market”


Subdivision Analysis: Villages of Purcellville 2011 07 25

Prices Vary Widely

Six homes have now sold this year in the Villages of Purcellville at close prices ranging from $330,000 to $412,000.  One of the two sales so far in July had a close price that was $5,000 higher than its asking price and the other was the second home to sell this year at a price in excess of $400,000.  The median was unchanged from my June analysis ($339,000) and it is 13.5 percent lower than the 2010 median.  However, the average days on market indicator continued its stark improvement; it declined to 55 days from 68 in June and is 44 percent lower than the 2010 average.  The close price to original list price ratio also improved; it increased from 94.6 percent in June and from 95.2 percent in 2010 to 96 percent in July.  The average seller subsidy declined 8 percent from June but is 19 percent higher than the average in 2010. One third of the 2011 sales in the Villages have been short sales while none of the nine sales in 2010 were distressed.

There is only one active listing in the neighborhood at this point. A standard sale, it has been on the market for 145 days at an asking price of $399,900.  Two of the three homes with pending contracts are short sales; that explains the unusually low list prices of $259,900 and $295,000.  All three were on the market an average of 142 days before receiving a contract.

With the extremely low list prices for the two pending short sale listings, the 2011 median and average close prices in the Villages will decline.  The good news though is that there are no active short sale listings in the neighborhood at this point suggesting prices will rebound in the Fall.

If now is the time for you to move, I would be honored to help you sell your home and/or answer any questions you may have about the real estate market here in Loudoun County.

Look for my new column in The Purcellville Gazette:  “The Dirt on the Market”


Subdivision Analysis: Villages of Purcellville 2011 05

As of June 13, 2011, there were three active listings in the Villages of Purcellville community.  One is a short sale that has been on the market for nearly a year; the price was reduced from $305,000 to $295,000 in late May.  The average list price for the other two homes on the market is $416,900 and they’ve been active for an average of 68 days.  Both of the pending sales are short sales.  The average list price is $292,450 and they were on the market an average of 54 days.


Four homes have closed so far this year – one in January, one in February and two in April.  One was a short sale with a close price of $390,000.  Two non-distressed homes sold for $339,000 and one sold for $409,000.  Therefore, the median sales price is $339,000 and the average close price is $369,250.  These homes were active for an average of 68 days.

If now is the time for you to move, I would be honored to help you sell your home and/or answer any questions you may have about the real estate market here in Loudoun County. 

Plus, I’ve moved to Atoka Properties in the Bloom Shopping Center.  Please take a moment to visit me while you’re running errands here in town. Let’s chat about your house.

Look for my new column in The Purcellville Gazette:  “The Dirt on the Market”


Subdivision Analysis: Villages of Purcellville 2011 04