Average Days on Market for homes in Leesburg, VA as of Oct 23, 2009 is 129

Looking at the charts, it takes about two months longer to sell a single family home than it does a condo or townhome; average days on market of around 190 for single family homes, around 130 for townhomes/condos. I have to say though that I think the short sales on the market are skewing the data, as many remain *active* in the listing service while the bank reviews the offers. The traditional sale homes seem to be selling much faster than that...my most recent listing in Leesburg sold with only 38 days on market, with plenty of showings.

Cheers,

Heather

Happy to unveil to you… charts that you can click on and play around with to see how the statistics look on any given day! You can also adjust the length of time you showing on the chart (one month, three months, etc) Go ahead and play with them, they are hot off the proverbial presses~~ and please give me some feedback on what you think!

Cheers,

Heather

Things are still cooking in Leesburg this summer! Looking across both the 20175 and 20176 zip codes we can see that the pace of homes going under contract (homes absorbed) is keeping up or exceeding the number of new listings (newly listed)...no wonder the inventory level is still so low! Days on market is shorter for condos and townhomes (which are combined in these charts); not surprising since those are typically less expensive.  I find it interesting that the price per square foot is pretty steady except for condos and townhomes in the 20175 zip; probably because there are some older townhomes and condos in that zip, while most 20176 condo/townhomes are newer.

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Cheers,

Heather

This week in the real estate market in Leesburg, we see more of the same…stability is a wonderful thing! Prices are still flat, and new listings coming on market is balancing with listings absorbed. The two charts in brown below will update weekly, but for this week (today is May 12th) you can see that the Homes Absorbed number and the Homes Listed number are pretty similar.

And here’s another nice sign that the market is stabilizing:

Median Price of New Listings

If you would like to receive email market updates, specific to your zip code, just use the Subscribe box on the left side of this page…

Cheers,
Heather

Here’s the update for Leesburg, keeping in mind that the ‘condo’ report covers townhomes and condos…

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Not too much change from the last update, days on market and median/average pricing seems to be pretty steady. A little bit of a jump up in new listings in the single family market, but about the same for townhomes, as compared to the numbers from April 3rd.

Looks like we are seeing more of the same here, no big changes in the trends from last week: condos and townhomes in the 20175 zip code have increased slightly in median price, while single family homes in the 20176 zip code have climbed.

And look at that, finally a little uptick in inventory (it is spring, the last time I checked)…however, we are only seeing it for single family homes, while the townhome/condo inventory continues to shrink.

Here’s the update for this week, keep in mind that the ‘condo’ report encompasses all non-single family home properties, including condos and townhomes.

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So, what we see for single family homes is a big disparity between median and average list price…there must be some higher priced properties hanging around skewing that average list price, huh? Single family homes are sitting on the market just a touch longer than condos and townhomes. The townhomes and condos are selling faster than the single family homes, too (look at the number absorbed versus the inventory total.)

Interestingly, single family median home prices are taking a beating in the 20175 zip code, while condos and townhomes are seeing an uptick. Meanwhile, in 20176, the single family home median price rose over the last month, while condos and townhomes dropped. Take note, price trends are neighborhood specific, folks!

And this is the most powerful chart here…inventory is dropping as we come into the spring market. There is not a whole lot to pick from, despite what you might hear in the national media. I’ll be keeping an eye on this, hoping to see some new listings as we get further into spring.

Hello! Welcome to Leesburg Market Stats. I’ve set up this site as a place that my readers can find statistical information about the real estate market in Leesburg and Loudoun County. This site will serve as an information hub for market data on all of the towns and neighborhoods in LoCo. Watch for weekly updates, and feel free to comment, and ask questions about any of the data you see here. I should have the first update here shortly!

Cheers,
Heather