Lansdowne Market Update
Lansdowne has become one of the premier neighborhoods in LoCo, offering everything from condos to $1,000,000+ single family homes. Let’s take a look at 2012, a year that had a nearly 20% increase in sales over to 2011.
There are a few distinct segments to the Lansdowne market, first we’ll review the town center area. There were 23 total sales in 2012, five condos and eighteen townhomes. The average sales price for the condos was $256,200, with 2 short sales, and the 25 days on market was less than half of the county average. Townhome sales averaged $431,216 and 52 days on market, including one short sale, with a low of $365,000 and a high of $480,000.
Coton Commons, located between Goose Creek and Belmont Ridge Road, south of Riverside Parkway, had 19 total sales last year. Of those, seven townhomes averaged $397,671 and 42 days on market, with one foreclosure and one short sale. The 12 single family sales included one foreclosure and one short sale as well, taking an average of 58 days to sell for $611,527.
Lansdowne on the Potomac, the largest section of the community, had 105 total home sales in 2012. Forty-five patio and townhomes averaged 64 days on market, had a median sales price of $532,900, and represented nearly 30% of all sales in Lansdowne. Single family homes accounted for 63 sales, with 2 bank owned and 10 short sales. The median price was $719,900, with a low of $515,00 and a high of $1,100,000, and averaged 66 days on market.
The final section of Lansdowne is Leisure World, an adult community of condominiums near the resort itself, where sixty units changed owners in 2012. A 30% increase from 2011, sales were between $152,000 and $375,000 with an average of 205 days on market. If you would like to see how Lansdowne compares to the county wide stats, check out my LoCo 2012 year in review.
Overall, 2012 was a great year for Lansdowne. The significant increase in sales combined with the below average days on market seems to be continuing early this year. Five homes have already sold, and as of this morning, there are 35 active listings, including 3 short sales and one foreclosure, while 33 homes are currently under contract. Inventory is still low, so if you are thinking of selling now is the time to start planning. We’d be happy to set up an appointment to evaluate your options for 2013… send us an email or give us a call at 571-233-5495 and we can get started.
Want to know what your Lansdowne home is worth? It’s simple, register for our home value report and it will quickly arrive in your inbox! (Live outside of Lansdowne, but still curious about home values? That’s fine, you can register, too.) If you are thinking about buying in Lansdowne, we can help with that as well; sign up here to receive all the new listings in this neighborhood.
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About our blog
Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.