2013 Year in Review: Beacon Hill

One of our more popular neighborhoods in Loudoun County, Beacon Hill has typically had at least one entry every year in our most expensive homes sold series (the home pictured above was from 2012). Let’s take a look at the 2013 real estate market for Leesburg’s premier luxury community:

There are two types of home sites at Beacon Hill, estate lots up to 12 acres and hamlet lots of less than an acre. We’ll start with the estate homes which feature 5 bedrooms, 4.5 baths, close to 7,000 square feet, and are situated on 3 acres. Eight sales were recorded here last year with an average price of $1,102,813, down almost 9% from the previous year’s $1,210,690 average and 10 sales. As you might expect for these million dollar properties, it took a lengthy 203 days to ratify a contract.

The hamlet homes in Beacon Hill also offer the same 5 bedrooms and 4.5 baths, but do so with a more modest 5,000 square feet on .75 acre lots. Sales here fared better than their larger neighbors, with seven homes moving at an average price of $832,258. That’s a slight 2% gain in value versus the three transactions and $816,667 average price in 2012. Another plus for sellers of hamlet homes, days on market dropped from 91 to 30.

What does it all mean for folks in Beacon Hill? More than most ares of LoCo, the unique size and design of homes in this neighborhood make for very individual situations. Both interior and exterior finishes, lot size and placement, and finished square feet could have a home worth $500,000 more than its next door neighbor. The best way to determine your options is to schedule a one on one consultation and allow us to share our expertise.

Live in Beacon Hill (or anywhere in LoCo) and wonder what your home is worth? Click here and we will send you an email with an up to date home value report. Thinking about buying? We’ve got you covered there too, sign up to get email updates on all the listings in your target area.

Cheers,
Mike

Have a real estate question or need any information on all things LoCo, just ask!