How Much Home for $400k in LoCo Today?

Guess the cold weather isn’t slowing the market down, last week when I wrote about homes in the $750,000 price range there were only 676 on the market! If you are searching in the $400,000 price point, you have 56 of the 1500 total homes currently on the market from which to choose. (As shown in the multiple listing service this morning, excluding new construction.)

• Ashburn: 12 homes. As you might expect, there are no single family homes available in this price point. Seven townhomes and 5 condos, averaging 3 bedrooms, 2.5 baths, and 2247 square feet. Four of these homes are in Goose Creek Village, a new community on the western edge of Ashburn Village.
• Leesburg: 14 homes. Five single family homes, three in Exeter and two downtown. The nine townhomes feature 3 bedrooms, 2 full and 2 half baths, and 2123 square feet. All but one of these have been built in the last 12 years, the outlier being built in 1973.
• Sterling: 16 homes. Not surprisingly the largest selection. The majority of the seven single family homes are in Sterling Park and have 4 bedrooms, 3 baths, and 1200 to 2400 square feet. Of the nine townhomes, 5 are in Potomac Lakes. As with the rest of LoCo, these homes average 3 bedrooms but have an extra full bath (3.5).
• The rest: 14 homes. Six of these are townhomes in South Riding offering 3 bedrooms, 2.5 baths, and just over 2200 square feet. The remainder are spread from Lovettsville to Aldie, including an historic Victorian built in 1900 and a Dutch Colonial on 4 acres.

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