The Loco Real Estate Market Report
Purcellville, VA
Single-Family Homes
Michael Elias www.LocoMusings.com
Purcellville, VA
Fri Nov 22 2019
This week the median list price for Purcellville, VA is $749,945 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has held steady at or around 72.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $749,945 | |
| Per Square Foot | $185 | |
| Days on Market | 116 | |
| Price Decreased | 33% | |
| Price Increased | 6% | |
| Relisted | 7% | |
| Inventory | 72 | |
| Median Rent | $2,250 | |
| Most Expensive | $2,850,000 | |
| Least Expensive | $237,500 | |
| Market Action | 34 | |
| Slight Seller's Advantage | ||
The market appears to be hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $974,450 | 4,704 | 2.5 - 5 acres | 4 | 4 | 15 | 2 | 0 | 209 |
| $799,000 | 5,458 | 2.5 - 5 acres | 4 | 3 | 13 | 1 | 2 | 101 |
| $650,000 | 3,266 | 0.5 - 1 acre | 4 | 3 | 16 | 3 | 0 | 68 |
| $459,750 | 2,039 | 1 - 2.5 acres | 3 | 2 | 51 | 1 | 2 | 85 |