How Much Home for $300K in LoCo Today?

 Last week when we wrote about homes in the $400,000 price range there were 1500 active listings. Here we are a week later and only 2 more homes are on the market, maybe the weather is slowing things down. If you are searching in the $300,000 price point, you have 59 of the 1502 homes currently on the market from which to choose. (As shown in the multiple listing service this morning, excluding new construction.)

• Ashburn: 8 homes. As you might expect, there are no single family homes available in this price point. Five townhomes, three of which are in Ashburn Village. Surprisingly three of these have only 2 bedrooms while averaging 1431 square feet. The three condos are all slightly bigger with 1598 square feet, with 3 bedrooms and 2 baths.
• Leesburg: 21 homes. Two single family homes, one of which is over 150 years old. The ten townhomes feature 3 bedrooms, 3.5 baths, and 1414 square feet with three each in Exeter and Potomac Crossing. The remaining nine homes are condos averaging 3 bedrooms, 2.5 baths, and 1818 square feet. Six of those condos are in the Lansdowne Town Center, with two over 2400 square feet.
• Sterling: 13 homes. Expected to see more homes here in this price range and surprised there are only three single family homes for sale. All in Sterling Park, buyers here would get 3 bedrooms, 2.5 baths, and just over 1200 square feet on .2 acres. There are ten townhomes for sale, including six in Countryside. Offering 3 bedrooms, 2.5 baths and 1485 square feet, most of these homes were built before 1988.
• The rest: 17 homes. Eight single family homes from Aldie to Bluemont, four of which are over 90 years old. Including 3 bedrooms, 2 baths, and slightly more than 1200 square feet, none of these homes have a garage. Five of the remaining 9 homes are in South Riding, three condos and two townhomes. A couple of 4 bedroom properties, although the majority offer 3 with 2.5 baths and all but one have a garage.

If purchasing a home this year is on your agenda, here’s a useful post to answer some questions about what to expect when you are buying. For our market, quick action is critical to securing your home of choice. In 2013 we saw a 22% drop in the average days on market, which is great for sellers but makes things a little tough for buyers. 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