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Loudoun home sales drop by a third
The number of homes that sold in Loudoun County over the first three months of this year dropped sharply from the first quarter of 2007.During the first quarter of 2008, 830 homes sold in Loudoun, compared to 1,169 in 2007, a 29 percent decrease, according to a report from the Virginia Association of Realtors.
Loudoun did fare better, though, than the rest of Northern Virginia, where the number of homes sold in the first quarter of 2008 plummeted by 36 percent from 2007.
The average sales price in Loudoun over the same span declined by 18 percent, from $514,436 in 2007 to $420,111 in 2008, according to the same report.
Statewide, the number of homes that sold was down 26 percent, while the average sales price dropped by 5 percent.
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