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How Much Home for $400K, June 2014

Sterling townhomes 946x338 How Much Home for $400K, June 2014

It’s not unusual for this segment of the market to be the most active, however 40% more listings than the next closest price range is kind of surprising. If you are searching for a home in the $400,000 ball park, you have 178 of the 1548 total homes currently on the market from which to choose. (As shown in the multiple listing service this morning, excluding new construction.)

  • Ashburn: 33 homes. As you might expect, no single family homes are available here but there is only one condo. Twenty-nine townhomes offering 3 bedrooms, 2 full and 2 half baths, and 2079 square feet, and they have been on the market an average of 29 days. Three homes are in the Active Adult Community of Potomac Green, close to One Loudoun on the eastern edge of Ashburn.
  • Leesburg: 39 homes. Ten single family homes, including three in my old stomping grounds of Leesburg Country Club. On average these homes are on a third of an acre, have 3 bedrooms, and 2.5 baths with 1738 square feet. All twenty-nine townhomes are less than 18 years old and feature 3 bedrooms, 3.5 baths, and 2080 square feet. Spring Lakes is the most active neighborhood with seven homes for sale, followed by Edwards Landing and Potomac Station with four each.
  • Sterling: 59 homes. Twenty three single family homes are on the market here, more than half in Sterling Park and Sugarland Run. Buyers should expect 4 bedrooms, 2.5 baths, and 1559 square feet. If you are looking to move into a Potomac Lakes townhome, there are 13 from which to choose. Overall, 36 townhomes averaging 3 bedrooms, 2.5 baths can be had with 1400 – 2500.
  • The rest: 47 homes. Split down the middle between single family homes (24) and townhomes (23). Twelve of these are townhomes in South Riding with 3 bedrooms, 2.5 baths, and just over 2200 square feet. The remainder are spread from Lovettsville to Aldie, including seven homes at least 81 years old.

If purchasing a home is on your agenda, here’s a useful post to answer some questions about what to expect when you are buyingFor our market, quick action is critical to securing your home of choice. So far this year we are continuing to see a decline in days on market after a 22% drop in 2013. How do you combat that? Sign-up for instant updates and receive emails with the information on homes you want immediately.

Whether you are buying today, next month, next year, or just need to figure out your options, I’m here to help. Feel free to reach out to me at Mike@LoCoMusings.com, or call or text 571-233-5495. Happy house hunting!

Cheers, Mike

Here’s a sampling of what’s available today:

See all What you can get for $400k in LoCo.
(all data current as of 9/2/2014)

  1. 4 beds, 3 full, 1 part baths
    Home size: 2,878 sq ft
    Lot size: 5,663 sqft
    Year built: 2004
    Parking spots: 3
    Days on market: 1
  2. 3 beds, 3 full, 1 part baths
    Home size: 2,341 sq ft
    Lot size: 2,178 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 1
  3. 2 beds, 2 full baths
    Lot size: 1.88 ac
    Year built: 1998
    Days on market: 1
  4. 3 beds, 3 full, 1 part baths
    Home size: 1,964 sq ft
    Lot size: 2,178 sqft
    Year built: 1998
    Parking spots: 1
    Days on market: 1
  5. 3 beds, 2 full, 1 part baths
    Home size: 2,649 sq ft
    Lot size: 1,742 sqft
    Year built: 2000
    Parking spots: 2
    Days on market: 2

Listing information deemed reliable but not guaranteed. Read full disclaimer.

The multiple listing data appearing on this website, or contained in reports produced therefrom, comes in part from Metropolitan Regional Information Systems ("MRIS"). The information provided is for the viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All real estate listings include detailed information about them that includes the name of the listing brokers and therefore may reference real estate listing(s) held by a brokerage other than the broker and/or agent who owns this web site.

All listing data, including, but not limited to, square footage and lot size is believed to be accurate, but the listing agent, listing broker and respective Multiple Listing Services and their affiliates do not warrant or guarantee such accuracy. Therefore, all data should be personally verified through personal inspection by and/or with the appropriate professionals. Listing data last updated 9/2/14 9:33 AM PDT.

The listing information on this web site is from various brokers who participate in IDX.

Copyright 2014 MRIS. All rights reserved.

This IDX solution is (c) Diverse Solutions 2014.