The Lansdowne real estate market continues to set the pace for Leesburg, as sales for all homes types outpace the same time frame last year. Let’s take a closer look at one of the hottest markets in LoCo…
Over the last two months, the average single family home sold had 5 bedrooms, 4.5 baths, and was on the market for 37 days. Compared to 2012, sales volume increased nearly 60% as 18 homes changed owners. More impressive was the 7.5% spike in average sales price, from $671,954 to $727,097. Another interesting note; this year only three sellers agreed to pay buyer closing costs versus six of eleven last year.
Townhome sales rose a modest 20% compared to this period of 2012, from 10 to 12. With 4 bedrooms and 3.5 baths, it took 41 days on the market to sell while the average sales price jumped 4.3% to $476,958. Differing from the single family segment, nearly 50 percent of these sellers paid closing costs for the buyer to help seal the deal.
So what does this mean for you? Sellers in Lansdowne can expect a nice gain in price while playing little or no closing costs for the buyer. Buyers will not have to act as quickly as they might have earlier this year, however you should be prepared to offer very close to the list price. Even though you may not be able to negotiate closing cost assistance from the seller, be sure to check all options when it comes to lenders and title companies. Many will offer incentives to help offset those costs.
If you are considering making a move, the first step is finding out what your home is worth. It’s simple, register for our home value report and we will quickly deliver it to 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.