Here’s a look at Leesburg’s real estate market, with numbers updated through last week. The median home price appears to be holding steady for the 20176 zip code, and for condos and townhomes in 20175…but look at that little increase in median price for single family homes in 20175! Nice to see something trending upwards! We’ll have to keep an eye on that to see if it continues, and if it spreads to the rest of the Leesburg market.
Inventory is still low and holding steady. I would have expected to see us trend a little higher by this point in the spring, but that hasn’t happened yet. The good news is that there aren’t a ton of bank owned listings flooding onto the market, but the bad news (if you are a buyer) is that there just isn’t a whole lot to choose from right now.
As for new listings, we saw a spike the week before the Easter holidays (and spring break for Loudoun County Schools) which didn’t continue over the holiday. I’ll be interested to see if we see a pickup again for the current week now that folks are back in town and back to business.
And finally, in looking at listings absorbed, we can see that as of the last few weeks, single family homes are selling faster than townhomes and condos in Leesburg. If you compare the chart below to the chart above, you’ll see that single family homes are going under contract at about the same rate each week as the number of new listings coming on market. Condos and townhomes aren’t getting ‘absorbed’ as quickly.
Let me know if there are other statistics you want to see!