Look Back: Leesburg Market in 2013

The 2013 Leesburg real estate market was a tale of two zip codes. Folks living in the 20176 portion of town watched home sale prices rise moderately, while those living in the 20175 zip code saw prices remain steady. That’s a little different than LoCo’s averages, which we wrote about earlier this week. Let’s take a look…

The first graph shows a month by month accounting  of the 1512 total homes sold in Leesburg last year, with the blue line representing 20175 and the purple line 20176. There was a 14% increase compared to the previous year, consistent with what we saw for all of Loudoun County in 2013. A couple of interesting stats here, the exact same number of single family homes and townhome/condos were sold (756 each), and 20176 sold one and a half as many homes as 20175 (936 to 576).

The money stat, showing something very different from the county averages. 20175 had a very slight jump in average sales price for single family homes of .4% to $560,461, and a strong 9.8% increase in townhome/condo sales price to $272,143. The folks in Lansdowne, River Creek, Raspberry Falls, and the rest of 20176 saw a little better rise in single family home prices to $614,324 (up 1.8% vs 2012). Townhome sales price also climbed 9.8% to $367,265, more than a full point more than the rest of LoCo.

Our last graph shows the average days on market, where it took an average of 50 days for homes here to ratify a contract last year. That was 12 days quicker than the year before and slightly better than the county average of 52. One stat which stood out for all of LoCo was 40% of homes selling in 10 days or less. With 547 of 1512 homes (36%) selling in that time frame, Leesburg was very close to that mark.

If you just can’t get enough and want all the data, here it is Leesburg-20175-2013 Leesburg-20176-2013.

What does all this mean for you? Location, location, location! It’s pretty evident the newer section of Leesburg costs more to live, aided by three golf course communities. The good news for sellers is homes spent less time on the market compared to last year, and townhome prices climbed by almost 10%. For buyers here, there were lots of options and single family home prices cost very close to the same as 2012.

Live in Leesburg (or anywhere in LoCo) and wonder what your home is worth? Click here and we will shoot you an email with an up to date home value report. Thinking about buying? We’ve got you covered there too, sign up here 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!